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$255,000

For Sale - Active
1882 Mannheim Rd, Des Plaines, IL 60018
3 Beds
2 Baths
1,200 Square Feet
0.00 Acres Lot
Built in 1930
For Sale - Active
6 Units
Checked: 15 hours ago
Updated: Sep 09, 2025 at 12:19AM

Investment Summary


Monthly Cash Flow
-$26
Cap Rate
5.6%
Cash-on-Cash Return
-0.5%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.5%

Property Description


0.00 Acres Lot
Built in 1930
For Sale - Active
6 Units

Beautifully maintained 3 bed, 1.5 bath home located in the highly sought-after Des Plaines area! Step into a spacious living room perfect for relaxing or entertaining. The updated kitchen features sleek granite countertops and brand-new stainless steel appliances (2024), ideal for any home chef. Upstairs, you'll find three generously sized bedrooms, a full bath, and ample closet space. A convenient powder room is located on the main level. The spacious, unfinished basement offers endless possibilities and is currently utilized as a versatile playroom and home gym. Additional highlights include a newly paved parking lot with an assigned space and an unbeatable location-just 7 minutes from O'Hare Airport! Enjoy being right up the street from Lake Park and Foxtail on the Lake, plus close to major highways, beautiful parks, popular restaurants, shopping, and more. This home truly offers the perfect blend of convenience and lifestyle! SHOWINGS ONLY ON SATURDAY 8/16 FROM 9AM TO 1PM. CALLING FOR H&B MONDAY BY 12PM.

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Location


Property Details


Parking

  • Description: Assigned Spaces, Space/s, Parking On-Site
  • Details: Assigned, Off Street, Guest, On Site
  • Garage Spaces: 0
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Partially Finished, Full

Exterior Features

  • Exterior Walls Materials: Masonry
  • Foundation: Concrete Perimeter

HOA

  • Has HOA: Yes
  • HOA Fee: $130/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Row House

Lot Information

  • Parcel ID: 0929220141
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1930

Tax Information

  • Annual Tax: $4,135

Utilities

  • Heating: Natural Gas, Forced Air
  • Cooling: Central Air

Location

  • County: Cook

Listing Details


Listed by:
Sara Sogol
Redfin Corporation
(847) 372-3527

Source:
Midwest Real Estate Data (MRED)
MLS#: 12437588
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
-$26
Cap Rate
5.6%
Cash-on-Cash Return
-0.5%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.5%

Purchase Details

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Purchase price:
$255,000
Amount financed:
-$204,000
Down payment:
$51,000
Closing costs:
$7,650
Rehab costs:
$0
Initial cash invested:
$58,650
Square feet:
1,200
Cost per square foot:
$213
Monthly rent per square foot:
$2.00

Financing Details

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Loan amount:
$204,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,207
Property tax:
$345
Insurance:
$168
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,720

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,400 $28,800
Vacancy loss: (6%)
6% -$144 -$1,728
Operating income:
$2,256 $27,072

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$345-$4,135
Insurance: (7%)
7%-$168-$2,016
Property management: (8%)
8%-$192-$2,304
Repairs & maintenance: (5%)
5%-$120-$1,440
Capital expenditures: (5%)
5%-$120-$1,440
HOA fees: (5%)
5%-$130-$1,560
Total operating expenses: (45%)
45%-$1,075-$12,895

Cash Flow


Monthly Yearly
Net operating income:
$1,181 $14,172
Mortgage payments:
-$1,207 -$14,484
Cash flow:
-$26 -$312