20% CAP Rate Turnkey Rental Property in Chicago $28k in Annual Gross Rental Income
Turnkey Rental Property in Auburn Gresham
7621 South Normal, Chicago Illinois 60620Asking Price $180,000 | Monthly Rent $2,350
Duplex (2-Flat), 2 Story, Brick Exterior
For Pictures, Click Here: 7621 South Normal
Bedrooms: 7
Bathrooms: 2
Garage: 2 Car
Living Sqft: 2,451
Lot Size: 3,125
Year Built: 1907 (Gut-rehabbed in 2015)
Basement: Full, unfinished
7621 South Normal is a Brick 2-Flat in the Auburn Gresham neighborhood of Chicago. This 2,451 square foot duplex sits on a 3,125 square foot lot and features 7 bedrooms 2 bathrooms, 2 car garage, full unfinished basement with a astonishing annual gross rental income of $28K+ offered turnkey with full one year warranty on all maintenance repairs and government guaranteed HUD tenants. This property was built in 1907 and completely gut-rehabbed in 2015.The property is offered for sale to investors seeking high yield passive income at $180,000.A must see. All reasonable offers will be considered.
Annual Taxes: $2,576 or $1,288 per Unit
Fair Market Value: $195,000
Purchase Price: $180,000
Repairs: $0 fully rehabbed
Rent Amount: $2,350
Buy & Hold Numbers with 75% Conventional Financing
Annual Income: $28,200
Annual Operating Expenses: -$8,985
Annual Vacancy Reserve: -$1,128
Annual Debt Service (75% Loan): -$7,969
Rental Profit: $10,118
Cap Rate: 20.65%
Buy & Hold Numbers Buying All-Cash
Annual Income: $28,200
Annual Operating Expenses: -$8,985
Annual Vacancy Reserve: -$1,128
Annual Debt Service: $0 (All Cash)
Rental Profit: $18,100
Cap Rate: 10.00%
Comparable Sales in Last 180 days:
1) 7629 S. Normal, Chicago, Illinois 60620. Sold 12/22/14, $180,000, 2-Flat 8 Bed 2 Bath
2)7609 S. Sangamon, Chicago, Illinois 60620. Sold 12/31/14, $195,000, 2-Flat 6 Bed 2 bath
3)7256 S. Green, Chicago, Illinois 60620. Sold 5/20/15, $220,000, 2-Flat 5 Bed 3 Bath
Auburn Gresham Community
Auburn Gresham, one of the 77 official community areas, is located on the far south side of the city of Chicago, Illinois. It was the original location of the South Side Irish Parade before it was relocated to the Beverly neighborhood farther southwest in the city. Auburn Gresham in 2013 was one of the top five real estate appreciation areas in the city of Chicago.
Contact Us
To reserve this property or have questions please call Justin Ericsson at 602-421-0995
JUSTIN ERICSSON
Cell:(602) 421-0995
Fax:(312) 276-9601
Email: [email protected]
Web:ProfitFromRentals.com
Rentals: LettsPropertyManagement.com