Description

Real Estate Taxes (annual): $2,391.72

Insurance (annual): $520

Utilities: Owner Pays Water - ~$50/mo

Tenant pays all other utilities.

Gross annual rent: $18,000 ($1,500/mo)

Factoring in vacancy (8%), repairs and maintenance (5%), reserves (cap ex @ 5%), management (9%), and all other listed costs, we project a 8.86% ROI at a purchase price of $106,000. 

A wide range of options

Any investor looking to acquire this home will have the option to rehab and turn this around for a great flip. 

In the last six months, we're seeing similar homes selling at retail for as high as $229,000 - which, frankly, are huge outliers. But a quick CMA shows that a 4 bed brick home with 2 basement bedrooms can push well over $160,000 in this market.

These are comps that are within walking distance of our property here at 7717 S. Ada:

  • 7628 S Loomis Blvd closed on 02/08/2017 at $164,900
  • 7731 S May St closed on 03/30/2017 at $169,900
  • 7533 S Honore St closed on 12/30/2016 at $171,000
  • 8326 S Ada St closed on 06/20/2017 at $183,000
  • 8337 S Paulina St closed on 04/07/2017 at $195,000

Email me at Ken.Yu@ChicagoRES.com. My work phone is (773) 466-6724. 




Property Details

Property Status Expired
Location 7717 S Ada St, Chicago, IL 60620, USA
Price $106,000
Estimated Repairs $1,000
Estimated Equity $53,000
Square Footage 2014
Sq Footage Source null
Estimated ARV $160,000
Estimated Equity $53,000
Bedrooms 4
Bathrooms 2.5
Garage Size 2
Year Built 1918
Tenant In Place null
Property Management In Place N/A
Seller Financing Available N/A
Sellers Disclosure Choose one...
Publish Date June 21st, 2017

Seller Information

Ken Yu

Chicago, Illinois
Member since May 2017
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Seller assumes all responsibility for the content of this listing.