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Larmon Cummings Jr
  • Flipper/Rehabber
  • Chicago, IL
153
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319
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Wholesale Deal In South Chicagoland Area

Larmon Cummings Jr
  • Flipper/Rehabber
  • Chicago, IL
Posted Dec 11 2014, 12:23

420 W. 117th St. Chicago, IL. 60643

$25,000.00

Single Family Home

Beds: 3

Baths: 1

Levels: 1 with large Full unfinished basement (room to create basement apt.)

Sq. Ft. 1,050

Year Built 1910

Garage – N/A

Lot size: 4,140

Taxes: $1,200

I have a great investment property for sale on the south side of Chicago that you DO NOT want to miss!!!! This 3bd 1ba SFR is in move-in condition with a cash paying tenant in place paying $850/mo, so all you have to do is manage the property-NO work needs to be done!!! Rent is underpriced-market rents are $1,100-1,250 for 3bd 1ba, so increase to boost cash flow. Current lease is from 12/3/14-12/2/15. If you're looking to add to your rental portfolio then look no more. This deal won't last long, so contact me ASAP for more details. You can contact Larmon Cummings Jr (708) 800-4001 [email protected] for more information. SERIOUS INQUIRIES ONLY PLEASE. Drive by to check it out, but please be considerate of tenant. POF must be sent for any showings. Thanks

If you are wishing to “Buy and Hold” etc. etc….

BUY HOLD
Purchase price $25,0000.00
Taxes
Management (10%)
$1,200.00
$2,500.00
Closing costs (6%) $1,500.00
Operating expenses (10%) $2,500.00
Vacancies – maintenance (8%) $1,953.00
Rental income $850.00 per month. $10,200.00 per year. 
Potential Net cash flow                          $2,047.00 per year (Rent needs to increase)