What's Available Wednesday? Chicago! | Hipster Investments

What's Available Wednesday? Chicago!Wow are we loving the Chicago properties this year! Yet again, we’ve found a single family that’s been fully renovated and has a tenant in place as condition of closing.

This one is an amazing deal – and puts $803 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.

Single Family

Location: Chicago, IL.

Built In: 1956 (fully renovated)

Purchase price: $125,000 (not a foreclosure, normal sale)

Property info: 3 bedrooms, 2 bathrooms, 1665 square feet, 1.5 stories, 1 car parking, basement

Income

Monthly rent collected: $1,450

Expenses

Monthly expenses

Property taxes: $298

Insurance: $51

Property management fees: $125

Monthly expenses (conservatively estimated)

Vacancy (7%): $102

Repairs (5%): $73

Total Monthly Expenses- $647

Net Income = Income – Expenses = $803

Advanced Numbers

Cap Rate = 7.71%

annual net income (non-inclusive of mortgage payment) / purchase price 

Cash-on-cash return =

Depends on your leveraging.

Special Terms

  • 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 melissa@hipsterinvestments.com. Take the plunge: you won’t regret it!

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