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$225,000

Under Contract
14453 Kolin Ave, Midlothian, IL 60445
3 Beds
1 Bath
974 Square Feet
0.00 Acres Lot
Built in 1962
Under Contract
Units n/a
Checked: 2 hours ago
Updated: Jun 17, 2025 at 03:02AM

Investment Summary


Monthly Cash Flow
$291
Cap Rate
7.2%
Cash-on-Cash Return
6.7%
Debt Coverage Ratio
1.27
Internal Rate of Return (5 years)
10.6%

Property Description


0.00 Acres Lot
Built in 1962
Under Contract
Units n/a

***Highest and Best Called for by Sunday, June 15th at 5:00 pm.*** This beautifully updated 3-bedroom, 1-bathroom home in Midlothian is a must-see! With recent updates throughout, it's perfect for buyers looking for a home with modern systems and finishes. Major updates include a new roof and gutters installed in 2024, complete with leaf guards for easy maintenance. The home also boasts owned solar panels (installed in 2021), offering potential energy savings. The windows were replaced in 2020, the furnace and A/C unit were updated in 2021 and 2022, respectively, and the water heater was replaced in 2019. The air ducts were cleaned in 2020, ensuring improved air quality, and the crawl space has been well-maintained. The interior features a spacious, updated floor plan, with fresh flooring installed in 2023. The bathroom was renovated in 2019, offering modern fixtures, and the kitchen comes equipped with appliances, including a dishwasher, stove, and microwave (all 2015), along with a refrigerator from 2013. The washer and dryer are also included, with the washer being new in 2021 and the dryer from 2017. Outside, you'll find a detached 2-car garage, with a new motor purchased (installation may be completed before closing). The backyard was newly sodded in May 2025, providing a lush outdoor space, and a backyard shed is included. This home offers a great opportunity with a variety of recent updates and is ready for its next owner!

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Location


Property Details


Parking

  • Description: Detached Garage
  • Details: Garage Door Opener, On Site, Detached, Garage
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Sump Pump, Unfinished, Partial

Exterior Features

  • Exterior Walls Materials: Masonry

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 2810209011
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1962

Tax Information

  • Annual Tax: $4,422

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Cook

Listing Details


Listed by:
Adam House
Redfin Corporation
(224) 699-5002

Source:
Midwest Real Estate Data (MRED)
MLS#: 12372046
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
$291
Cap Rate
7.2%
Cash-on-Cash Return
6.7%
Debt Coverage Ratio
1.27
Internal Rate of Return (5 years)
10.6%

Purchase Details

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Purchase price:
$225,000
Amount financed:
-$180,000
Down payment:
$45,000
Closing costs:
$6,750
Rehab costs:
$0
Initial cash invested:
$51,750
Square feet:
974
Cost per square foot:
$231
Monthly rent per square foot:
$2.57

Financing Details

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Loan amount:
$180,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,065
Property tax:
$369
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,609

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$369-$4,422
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (40%)
40%-$994-$11,922

Cash Flow


Monthly Yearly
Net operating income:
$1,356 $16,272
Mortgage payments:
-$1,065 -$12,780
Cash flow:
$291 $3,492