Chicago Wholesale Deal (South Side-Chatham Area)-PRICE REDUCTION
7939 S. Ingleside Unit E. Chicago, IL. 60619
Asking Price: $22,000.00 *Buyer Pays 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: N/A
Lot size: 700
Taxes: $863
GREAT RENTAL UNIT WELL UNDER MARKET VALUE-PRICE JUST REDUCED!!!! NOT LISTED ON MLS!!! 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!!! NO REALTOR COMMISSIONS!!! You can literally purchase and rent out immediately with NO repairs needed. Seller will also include all appliances for reasonable offer. 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. Call/Text now for more details.
The Numbers: Buy and Hold
Purchase price$22,000.00
Prop. Taxes$863.00
Closing costs (5%)/Insurance ($500)$1,600.00
Op. Exp. (5%)/Reserves (5%)/Man. (10%) ---(20%)$4,400.00
Vacancies (5%)/Maintenance (5%)----(10%)$2,200.00
Rental income$1,000 per month. $12,000 per year.
Net Annual Income $4,037.00 per year
Comparables:
1) 1336 E. 87th St. Chicago, IL. 1.0 miSold: 3/15: $80,000.00
https://www.redfin.com/IL/Chicago/1336-E-87th-St-6...
2) 8547 S. St. Lawrence.9 miSold: 11/14: $40,100.00
https://www.redfin.com/IL/Chicago/8547-S-Saint-Law...