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$290,000

For Sale - Active
8848 Meade Ave, Oak Lawn, IL 60453
3 Beds
1 Bath
1,092 Square Feet
0.00 Acres Lot
Built in 1961
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: Jul 26, 2025 at 04:54AM

Investment Summary


Monthly Cash Flow
-$363
Cap Rate
4.2%
Cash-on-Cash Return
-6.5%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.3%

Property Description


0.00 Acres Lot
Built in 1961
For Sale - Active
Units n/a

Brick Ranch 3 bedrooms with a nice driveway. HVAC 2020; garage exterior 2023; new stove and washer 2022; New sump pump 2023 and newer house and garage roof and gutters (approx. 7 years). Water tank 5 years. Garage pad cement 1 year. Electrical box 1 year Beautiful hardwood floors in living room under carpet and hardwood floors in bedrooms. Very nice BIG yard space for friends and family gatherings. Storage in the two-car garage and shed. Nice recess lighting in living room. Do not wait, priced to sell so bring an offer today!

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Location


Property Details


Parking

  • Description: Detached Garage
  • Details: Asphalt, 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: 5
  • # of Stories: 1
  • Basement Description: None

Exterior Features

  • Exterior Walls Materials: Masonry

Land Information

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

Lot Information

  • Parcel ID: 2405101071
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1961

Tax Information

  • Annual Tax: $6,102

Utilities

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

Location

  • County: Cook

Listing Details


Listed by:
Jesse Macias
Parks Homes Real Estate Inc
(773) 858-5273

Source:
Midwest Real Estate Data (MRED)
MLS#: 12366481
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
-$363
Cap Rate
4.2%
Cash-on-Cash Return
-6.5%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.3%

Purchase Details

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Purchase price:
$290,000
Amount financed:
-$232,000
Down payment:
$58,000
Closing costs:
$8,700
Rehab costs:
$0
Initial cash invested:
$66,700
Square feet:
1,092
Cost per square foot:
$266
Monthly rent per square foot:
$2.01

Financing Details

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Loan amount:
$232,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,372
Property tax:
$509
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,035

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: (23%)
23%-$509-$6,103
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: (48%)
48%-$1,059-$12,703

Cash Flow


Monthly Yearly
Net operating income:
$1,009 $12,108
Mortgage payments:
-$1,372 -$16,464
Cash flow:
$363 $4,356