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3 Flat 4228 Drake Chi Irving Park Chicago IL Mu

City: CHICAGO ZIP: 60618

Built In: 1910

Lot Size: Less Than .25 Acre

Lot Dimensions: 25X125

# of Units: 3

Unit 1 Floor G: 2 bedrooms 1 baths $1190

Unit 2 Floor 1: 2 bedrooms 1 baths $1300

Unit 3 Floor 2: 2 bedrooms 1 baths $1325

Detailed Listing Description

Opportunity Awaits! 3-Unit Building in Highly Desirable Neighborhood of Irving Park! Each Unit with 2 Bedrooms and 1 Bathroom, Wood-floors throughout, Updated Kitchens with Modern Finishes and Stainless Steel Appliances! Other Features include All New Electric and HVAC components, New Roof, Each Unit with Separate Utilities and Laundry for Building in Basement! Great Location on a Beautiful Tree-Lined Street. Close to Bus, Expressways, Train, Shopping and Restaurants! Ready to Go and Cash-Flow!

Additional Property Details

Garage & Parking
  • Gargage On SiteYes
  • Gargage OwnershipOwned
  • Gargage TypeDetached,
  • Number of Gargage Spaces1
  • ParkingGarage,
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Electric, Gas, Heat,
  • Tenant Pays Unit 2Electric, Gas, Heat,
  • Tenant Pays Unit 3Electric, Gas, Heat,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Dishwasher, Microwave, Central Air Conditioner,
  • Appliances Unit 2Stove, Refrigerator, Dishwasher, Microwave, Central Air Conditioner,
  • Appliances Unit 3Stove, Refrigerator, Dishwasher, Microwave, Central Air Conditioner,
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60618

Listings in this Zip Code average: 2 to 3 units, and are priced at $481,048 to $587,571
This listing is 11% more than other 3 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Irving Park

Listings in this Neighborhood average: 2 to 3 units, with average prices of $430,448 to $506,647
This listing is 4% more than other 3 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $45,780 Monthly $3,815
Rental Income Stabilized : Annual $51,300 Monthly $4,275
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$525,0003$175,0005.75%11.470.81%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$3,815$4,275
Year Total$45,780$51,300
Expense
Total$15,583$15,583
Net Operating Income$30,197$35,717
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $6353 $17589 $23942 $1996
Total         $6,353 $17,589 $23,942   $6,255 $6,353 $12,608
Stabilized         $6,353 $17,589 $23,942   $11,775 $6,353 $18,128
Custom         $6353 $17589 $23942   $11775 $6353 $18128




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1393,7501,9965191,4775191,4771,996
2393,2311,9965211,4751,0412,9513,992
3392,7091,9965231,4731,5644,4245,988
4392,1861,9965251,4712,0895,8957,984
5391,6611,9965271,4692,6177,3639,980
6391,1331,9965291,4673,1468,83011,976
7390,6041,9965311,4653,67710,29513,972
8390,0731,9965331,4634,21011,75815,968
9389,5401,9965351,4614,74613,21817,964
10389,0041,9965371,4595,28314,67719,960
11388,4671,9965391,4575,82216,13421,956
12387,9281,9965411,4556,36317,58923,952
13387,3871,9965431,4536,90719,04125,948

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Listing Agent: Michael Havey
Listing Office: Re/Max Properties
526 Maple Lane Darien

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