ATTENTION BUY AND HOLD INVESTORS!!!!Wholesale Deal-Chicago South Side (Chatham Area)

2 Replies

7939 S. Ingleside Unit E. Chicago, IL. 60619

Asking Price: $29,900.00 *Buyer Pays All Closing Costs Minus Seller Attorney Fee

Property Type: Brick Townhouse

Beds: 2

Baths: 1.5

Floors: 2 Levels Full Unfinished Basement

Sq. Ft.: 888

Year Built: 1962

Garage: Parking in rear of building

Lot size: 700

Taxes: $863

GREAT RENTAL UNIT WELL UNDER MARKET VALUE!!!!!!!!! Recent remodel and well-taken care of brick town house in the Chatham Area. New ceramic tile, paint, carpet, side walks, updated electrical, roof under 10yrs old, water proofing done less than 5 yrs. ago, tuck-pointing to exterior brick recently, and much much more. Property sits in a predominantly rental area of Chatham; class C area. Plumbing has good water pressure throughout unit, boiler in good shape as well as hot water tank. NO HOA FEES!!! You can literally purchase and rent out immediately with NO repairs needed. Seller will also include all appliances for reasonable offer. I am also a licensed agent and have renters available currently via my rental business, so filling the unit won't be a problem. Property taxes and water bill prorated as of closing date. Can rent for $1,000-1,050 per month. POF must be sent for any showings. Send me a message for more details.

The Numbers: Buy and Hold
Purchase price $29,900.00
Prop. Taxes $863.00
Closing costs (5%)/Insurance ($500) $1,995.00
Op. Exp. (5%)/Reserves (5%)/Man. (10%) ---(20%) $5,980.00
Vacancies (5%)/Maintenance (5%) $2,990.00
Rental income $1,000 per month. $12,000 per year.
Net Annual Income                                                      $2,530.00 per year

Comparables:

1) 1336 E. 87th St. Chicago, IL. 1.0 mi Sold: 3/15: $80,000.00

https://www.redfin.com/IL/Chicago/1336-E-87th-St-60619/home/13220548

2) 8547 S. St. Lawrence .9 mi Sold: 11/14: $40,100.00

https://www.redfin.com/IL/Chicago/8547-S-Saint-Lawrence-Ave-60619/home/13223771

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