We are back again in Chicago, with a single family that’s been fully renovated and has a tenant in place as condition of closing.
This one is truly an amazing deal – and puts $875 in cash-flow in your bank account each month (and that’s conservatively estimated!)…
Chicago is a city that is on the rise: it’s the #1 most diversified economy in the US, chock full of colleges, hospitals, Fortune 5oo employers… And most importantly, there are tenants and lots of them. Let’s take a look at today’s hot find: double your income streams on one property – easy and hassle-free.
Location: Chicago, IL.
Built In: 1949 (fully renovated)
Purchase price: $118,500 (not a foreclosure, normal sale)
Property info: 4 bedrooms, 1.5 bathrooms, 1150 square feet, 2 story, 2 car parking
Monthly rent collected: $1,450
Property taxes: $226
Property management fees: $125
Monthly expenses (conservatively estimated)
Vacancy (7%): $102
Repairs (5%): $73
Total Monthly Expenses- $575
Net Income = Income – Expenses = $875
Cap Rate = 6.81%
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
- 90-Day Scope of Work Warranty
- 6-Month HVAC Warranty
If you are interested in this property or seeing others like it, contact Melissa at firstname.lastname@example.org. Take the plunge: you won’t regret it!