Updated over 7 years ago on .
OMG! Great Fix and Flip in Chicago! South side surburb ROI 21+%!
This is a single family home in a very desirable suburb of Chicago on the south side. It’s only a 20 minute drive to downtown Chicago, Illinois. This city is considered a very desirable place to live. The homes are reasonably priced, and a great area to start a family. The taxes are also very reasonable and it’s in a very quiet neighborhood, on a cul de sac. Once this property is rehabbed, it will sell quickly, as we’re fast approaching our prime selling season. This home needs work, to make it a gem and a quick seller. We will complete the work with our licensed contractor. We are ready to start the rehab immediately. This home will make a great starter home for someone once its retail ready after its rehabbed!
Property Specs:
2 Story Frame
Built: 1913
Nice deck on back of home
Porch on front of home
3 Bedrooms
1 Bath
Full Basement
Large back yard
On a quiet dead-end street
1080 sq. ft.
Taxes: $1,471.00
Purchase Price: $68,000.00
Rehab Costs: $67,500.00
Total Price: $135,500.00
ARV Range: $175,000-$188,000
Minimum Gross Profit:$39,500.00
Net Profit after all holding costs:$30,300.00 to $40,850.00
ROI: 21% to 27.45%!!!
REPAIRS NEEDED
Rehab Cost = $67,500.00
The property has already been gutted out and our contractor is ready to move on rehabbing this property. As we said before, the last deal fell through because of a lender. We can start the rehab the day of close. We can also send interested parties the detailed scope of work upon request. Here is a list of major repairs we will be doing. This home will be practically new when we're done!
1.New stainless-steel appliances
2.New kitchen – Counter, splash board, cabinets, floor etc.
3.New bathroom – New vanity, faucets, flooring, walls etc.
4.New windows
5.New floors
6.Paint entire home
7.All new fixtures
8. All new roof, soft, fascia and gutters
9. New furnace
10. New central air unit
It will take approximately 6-8 weeks to complete the rehab. We will be installing upper end fixtures throughout the home. This will help you get top dollar for your property. The house will be ready to go on the market during prime selling season.
TERMS OF SALE
The information listed above is to the best of our knowledge.
- Buyer pays 100% of closing costs which includes title company fees and escrow
- Buyer will receive taxes prorated to 100 percent and free and clear title
- Please do all your inspections and due diligence up front before contacting
- The first investor with a signed contract and $1500.00 earnest money gets the deal
- This is an IRA Qualified investment
CONTACT DETAILS
Elbert Dockery
Phone: 773-401-7321
*Please reach out to me for more information regarding comps, and pictures