Landlord-Ready property available in Calumet City, IL
Located walking distance of Indiana border, short drive to Chicago.
Modest ARV 85k, some estimates from comps near 100k.
Estimated Repairs 5-10k (for rent-ready) kitchen upgrade, appliances, fixtures, window treatments/blinds, some clean-up. For rehab sale, may want to put a bit more love.
Wholesale price 42k
2/2 with partially finished basement and basement studio/apt (one bathroom downstairs, kitchenette, and "almost bedroom"--no window/2nd exit) so 3 roommates or family is good-to-go. central air, detached 2-car garage on corner lot. Rent at 1200 easy...do the math for cap rate at 60-65k all-in. Currently under contract. Please contact me for access--trying to get this closed by xmas, so some flexibility on price. Easily rentable or sellable at retail by Feb 2015. Cash buyer only. check link for CL post with more details, pics, eval sheet - http://chicago.craigslist.org/sox/reo/4799711785.h...