🏠🔥 Hidden Gem SFH | Chicago, IL | Info and Pictures ➡️🔐

Description

Address: 12453 S State St, Chicago, IL 60628

This 3 bedrooms / 2 bathrooms rental makes sense for any rental investor even in today’s changing real estate market. A large equity spread in the deal. A potential easy flip property!

The property is TENANT-OCCUPIED. Please contact Dispo Manager for viewing options.

PLEASE DO NOT DISTURB TENANTS!

Deal Takeaways:

Large Equity in the Deal

Occupied at close

The seller does not know the age of the roof and HVAC

No known issues with the plumbing, electrical and foundation

Financials:

ARV: $185,000

Purchase Price: $89,500

Estimated Profit Details (Flipper/MLS Sale):

$185,000 ARV

(*) 94% for sale commissions

(-) $89,500 purchase price

(-) $40,000 rehab/make ready budget

(-) $3,000 closing / holding cost

(=) $41,400 profit

Estimated Rental Profit Details:

$2,100 estimated monthly rent

(-) $168 monthly tax

(-) $90 monthly insurance

(-) $210 property management

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

(=) $1,422 net monthly cash flow

Property Details:

3 Beds / 2 Baths

1,248 sqft Home Square Feet

3,764 Square Feet Lot Size

Year Built 1942

Current rent is $1100, significantly under market rent

Tenants are month 2 month