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$300,000

Under Contract
506 S Edison Ave, Elgin, IL 60123
3 Beds
2 Baths
1,256 Square Feet
0.00 Acres Lot
Built in 1948
Under Contract
Units n/a
Checked: 44 minutes ago
Updated: Jun 24, 2025 at 03:16AM

Investment Summary


Monthly Cash Flow
-$483
Cap Rate
4.3%
Cash-on-Cash Return
-8.4%
Debt Coverage Ratio
0.69
Internal Rate of Return (5 years)
-4.1%

Property Description


0.00 Acres Lot
Built in 1948
Under Contract
Units n/a

Step into comfort with this inviting 3-bedroom, 2-bath home featuring a beautifully updated kitchen with brand-new appliances. The full basement offers plenty of storage or potential for additional living space. Conveniently located just minutes from major highways, shopping centers, and many more amenities. This home combines charm with unbeatable accessibility. Don't miss this great opportunity!

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Location


Property Details


Parking

  • Description: Detached, Garage, Garage On-Site
  • Details: On Site, Detached, Garage, Driveway
  • Garage Spaces: 1
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 2
  • Attic: Yes
  • Basement: Yes
  • Basement Description: Unfinished, Full

Land Information

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

Lot Information

  • Parcel ID: 0622280037
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1948

Tax Information

  • Annual Tax: $5,218

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas
  • Cooling: Central Air

Location

  • County: Kane

Listing Details


Listed by:
Irma Sifuentes
Executive Realty Group LLC
(847) 533-5873

Source:
Midwest Real Estate Data (MRED)
MLS#: 12335683
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
-$483
Cap Rate
4.3%
Cash-on-Cash Return
-8.4%
Debt Coverage Ratio
0.69
Internal Rate of Return (5 years)
-4.1%

Purchase Details

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Purchase price:
$300,000
Amount financed:
-$240,000
Down payment:
$60,000
Closing costs:
$9,000
Rehab costs:
$0
Initial cash invested:
$69,000
Square feet:
1,256
Cost per square foot:
$239
Monthly rent per square foot:
$1.75

Financing Details

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Loan amount:
$240,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$1,566
Property tax:
$435
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,155

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (20%)
20%-$435-$5,218
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (45%)
45%-$985-$11,818

Cash Flow


Monthly Yearly
Net operating income:
$1,083 $12,996
Mortgage payments:
-$1,566 -$18,792
Cash flow:
$483 $5,796