🏘 🎯Turn Key Duplex | 120k+ Equity | Chicago, IL 🔑✨

Description

Address: 3937 W Flournoy St, Chicago, IL 60624

6-bedroom / 2-bathroom Two Flat duplex

Deal Takeaways:

Rents are $1000 and $1100
Roof is 10 years old and in good condition
Turn Key
Comps:

3928 W Lexington St, Chicago, IL 60624 (across the street) – sold for $364,000
3923 W Lexington St, Chicago, IL 60624 (also across the street) – sold for $372,000
3821 W Flournoy St, Chicago, IL 60624 (same street) – sold for $320,000
Financials:

ARV: $365,000

Purchase Price: $245,000

Estimated Profit Details (Flipper/MLS Sale):

ARV: $365,000

(*) 94% for sale commissions

(-) $245,000 purchase price

(-) $20,000 estimated rehab/make ready costs for a market sale

(-) $5,000 esti. closing / holding cost

(=) $73,100 profit

Actual Rental Profit Details:

Rental Income: $2,100

(-) $319 monthly tax

(-) $110 monthly insurance

(-) $210 property management (estimated recommnedation)

(-) $210 recommended allocation for repairs, vacancy, etc (estimated recommnedation)

(=) $1,251 a month

Property Details:

2.403 Home Square Feet

Two furnances, each about 5 years old