Downtown Hyde Park Fix and Flip 21% NET CROI - Chicago, IL
Hello BP!
Today we have available for immediate assignment a brick and frame townhome in central downtown Hyde Park for $399,900.
Address: 1316 E. 52nd St, Chicago, IL 60615
Size: 2,412 sq. ft.
Bedrooms: 6
Bathrooms: 2.1
Other details: Professional appraisal of after rehab value of $745,000 almost a year ago. Prices have only risen in the area. Rehab was started before the current owner ran out of money due to other projects drawing away funds. It is located on a cul-de-sac with high ceilings, a fenced yard, a 2-car garage, a large porch, and a balcony. It has a new roof and gutter system. Less than a half mile away from Whole Foods.
After Repair Value: $745,000+
Estimated Rehab: $150,000
Estimated Rehab Timeline: 3 months
Estimated Profit After Sales and Holding Costs: $120,500
Estimated Net Cash on Cash Return: 21%+
Here is the appraisal, which includes the rehab estimate of about $150,000 and the proposed floor plan: https://www.dropbox.com/s/dy1alp7oydctir3/Appraisal_1316_52_Chicago_IL.PDF?dl=0
COMPS: https://www.dropbox.com/s/22yoxzdb69m1m2g/Comparables_1316_52_Chicago_IL.pdf?dl=0
PHOTOS: https://www.dropbox.com/sh/nudu8bfcquj34ja/AADvK-EWKdAul3bQ8Ughocn9a?dl=0
The deal goes to the first person to sign the assignment of contract and remit the assignment fee. Please let us know if you have any questions or interest as soon as possible as this deal will not last long.
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