$610,000
Investment Summary
- Monthly Cash Flow
- -$2,243
- Cap Rate
- 1.3%
- Cash-on-Cash Return
- -19.2%
- Debt Coverage Ratio
- 0.22
- Internal Rate of Return (5 years)
- -14.5%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Stunning, Rarely Available 2-Bed 2-Bath Duplex-Up Penthouse Unit In Sought After 60657 Lofts Offers An Expansive 16ftx15ft Private Roof Deck With Breathtaking Chicago Skyline Views! Perfectly Located In The Heart Of West Lakeview, Just Blocks From Vibrant Southport Corridor & Charming Roscoe Village, This Boutique Elevator Building Combines Historic Charm With Modern Living. This Spectacular Home Was Just Beautifully Renovated In 2025, With No Detail Spared! Gorgeous Chef's Kitchen Features New Quartz Countertops, Under Mount Sink, Stainless Sprayer Faucet, Refinished White Cabinetry, Decorative Mosiac Tile Backsplash, Brushed Gold Hardware, Over Head Lighting, Custom Shelving & All-New LG Stainless Steel Smart Appliances. Breakfast Bar Seats Up To Three & Flows Seamlessly Into The Open Dining & Living Area, Anchored By A Gas Fireplace - Perfect For Entertaining! Architectural Highlights Include 9FT Ceilings, Painted Exposed Brick & Exposed Ductwork On The Main Floor. West-Facing Wall Of Windows On Both Levels, Drenches Home With Natural Sunlight-Enjoy Gorgeous Sunsets & Peaceful Horizon Views. Upstairs, The Primary Suite Is A Private Retreat: A Massive 17'x13' Bedroom Fits A King Bed & Large Furniture, Has A Spacious Walk-In Closet, Shelving Nook & Extra Storage Cabinet. Enter Through Glass-Panel French Doors To Brand-New, Fully Renovated Spa-Like Primary Bathroom: This Luxurious Space Showcases Custom Tile Work, White Refinished Vanity With Quartz Countertop, Glass Shower Panel, Framed Mirror, Brushed Gold Hardware, Fixtures & Lighting. Access The Private Terrace Directly From Primary Suite, Which Is A Quiet Retreat To Enjoy Your Morning Coffee, Take A Break From Work Or Entertain Over Looking The City Skyline. Exterior Water Spigot Makes Watering Plants & Flowers Very Convenient. Exterior Electrical Outlets. The Spacious Main Floor Second Bedroom Offers Versatility With Pocket Doors At Each Entrance For Privacy. This Nice Size Room Fits A Queen Bed & Has An Additional Area Perfect For A Home Office. A Walk-In Closet Houses The Brand-New LG Washer & Dryer With Ample Closet Space. Gorgeous Renovated Main Floor Full Bath Is Accessible From Hallway Or Via Pocket Door In 2nd Bedroom For An En-Suite Feel. All New Flooring, Tub, Polished Ceramic Subway Tile Surround, Natural Wood Vanity, Lighting, Black Matte Hardware, Fixtures & Mirror All Have A Beautiful Sleek Design. Additional 2025 Updates With This Massive Renovation Include: Entire Unit Freshly Painted, Refinished Hardwood Floors Throughout, New Tile Flooring, New Lighting, Ceiling Fans & Outlets/Switches Throughout. Central Air/Gas Forced Heat. Storage Galore Throughout Unit! Additional Private 8'x4' Storage Cage & Common Bike Area. 1 Deeded, Heated Garage Parking Space Included. The Building Offers 2 Common Rooftop Decks With Unbeatable Skyline & Sunset Views. The West-Side Deck Features Table Seating, Gas Grill, Indoor Prep Kitchen & Bathroom. Enjoy Living Steps From Whole Foods, Target, Trader Joe's. Paulina Market, Starbucks, LA Fitness, CorePower Yoga, Chi50 Pilates, Frasca Restaurant & Bitter Pops. Don't Miss Anthropologie, Lululemon, Vuori, Sephora, Coda di Volpe, Ella Eli, Crosby's, Itoko,Volo & Many More Top-Rated Restaurants, Boutiques & Conveniences Nearby! Paulina Brown Line EL, Ashland & Belmont CTA Bus Lines ALL 1 Block Away. Pet Friendly-Max 2 Dogs & 1 Cat. Investor Friendly-No Rent Cap (No Short-Term Rentals Or AirBnb) Professionally Managed. Strong Reserves. Assessments Include High-Speed Internet & Cable. Massive Renovation In 2025: All New Windows & Slider Replaced(2025), All New Kitchen Appliances/Washer Dryer, Entire Unit Freshly Painted, Floors Refinished, Major Remodel Of Both Bathrooms & Kitchen (2025), Window Treatments (2022),Water Heater (2019). Burley Elementary. Truly Have It All In This Unbeatable Lakeview Location!
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Location
Property Details
Parking
- Description: Garage
- Details: Garage Door Opener, Heated Garage, On Site, Attached, Garage
- Garage Spaces: 1
- Spaces Total: 1
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 5
- # of Stories: 4
- Basement Description: None
- Fireplace: Yes
HOA
- Has HOA: Yes
- HOA Fee: $415/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 14194300221124
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Year Built: 1944
Tax Information
- Annual Tax: $7,991
Utilities
- Heating: Natural Gas, Forced Air
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Cook
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,243
- Cap Rate
- 1.3%
- Cash-on-Cash Return
- -19.2%
- Debt Coverage Ratio
- 0.22
- Internal Rate of Return (5 years)
- -14.5%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $610,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$488,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $122,000 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $18,300 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $140,300 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 0 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| n/a |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| n/a |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $488,000 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 5.875% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $2,887 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $666 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $175 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $3,728 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $2,500 | $30,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$150 | -$1,800 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,350 | $28,200 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 27% | -$666 | -$7,992 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$175 | -$2,100 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$200 | -$2,400 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$125 | -$1,500 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$125 | -$1,500 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 17% | -$415 | -$4,980 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 68% | -$1,706 | -$20,472 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $644 | $7,728 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$2,887 | -$34,644 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$2,243 | -$26,916 |