waw-chicago-3:1We are back again in the world-famous destination…  Chicago! Aren’t you just loving this new single family home trend? They’ve all been fully renovated and have a tenant in place as condition of closing.

Chicago is one of the most economically powerful cities in the world, with the #1 diversified economy in the US. It is 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!

Location: Hazel Crest, Illinois. Built In: 1974 (fully renovated)

Purchase price: $150,000 (not a foreclosure, normal sale)

Property info: 4 bedrooms, 2 bathrooms, 1,583 square feet, 2 stories, 1 car garage

Income

Monthly rent collected: $1,825

Expenses

Monthly expenses

Property taxes: $367

Insurance: $83

Property management fees: $144

Monthly expenses (conservatively estimated)

Vacancy (7%): $128

Repairs (5%): $91

Total Monthly Expenses- $813

Net Income = Income – Expenses = $1,012

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price =8.09%

Cash-on-cash return =

Depends on your leveraging.

If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com.

Want to see more deals like this?
We’ll send them to you!

Want to see more deals like this? We'll send them to you!

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