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2 Flat 2858 Drake Chi Avondale Chicago IL Mu In

City: CHICAGO ZIP: 60618

Built In: 1886

Lot Size: Less Than .25 Acre

Lot Dimensions: 25X125

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $0

Unit 2 Floor 2: 3 bedrooms 2 baths $0

Detailed Listing Description

AVONDALE/LOGAN SQUARE AREA SOLID 2 UNIT BUILDING. SECOND FLOOR DUPLEXED WITH FINISHED ATTIC FOR A TOTAL OF 3 BEDROOMS, 2 BATHS, LIVING ROOM & FAMILY ROOM. BOTTOM UNIT FEATURES 2 BEDROOMS AND 1 BATH WITH AMPLE EAT IN KITCHEN. FULL BASEMENT AND FINISHED AS AN APARTMENT WITH A SEPARATE STORAGE ROOM, LAUNDRY ETC...PROPERTY NEEDS COMPLETE REHAB OR TEAR DOWN TO BUILD NEW CONSTRUCTION.

Additional Property Details

Garage & Parking
  • Gargage On SiteYes
  • Gargage OwnershipOwned
  • Gargage TypeDetached,
  • Number of Gargage Spaces2
  • ParkingGarage,
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1All,
  • Tenant Pays Unit 2All,
Appliances
  • Appliances Unit 1Stove, Refrigerator,
  • Appliances Unit 2Stove, Refrigerator,
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 38% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Avondale

Listings in this Neighborhood average: 2 to 3 units, with average prices of $441,242 to $496,207
This listing is 32% more than other 2 unit listings in this neighborhood.

This property provided no rental pricing information. Rents extrapolated from area average rental pric ing

Calculated Rents
Rental Income : Annual $37,776 Monthly $3,148
Rental Income Stabilized : Annual $47,220 Monthly $3,935
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$299,9002$149,9508.97%7.941.31%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$3,148$3,935
Year Total$37,776$47,220
Expense
Total$10,865$10,865
Net Operating Income$26,911$36,355
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $3629 $10048 $13677 $1140
Total         $3,629 $10,048 $13,677   $13,234 $3,629 $16,863
Stabilized         $3,629 $10,048 $13,677   $22,678 $3,629 $26,307
Custom         $3629 $10048 $13677   $22678 $3629 $26307




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1224,9251,1402978432978431,140
2224,6281,1402988425941,6862,280
3224,3311,1402998418932,5273,420
4224,0321,1403008401,1933,3674,560
5223,7321,1403018391,4944,2065,700
6223,4311,1403028381,7965,0446,840
7223,1291,1403038372,0995,8817,980
8222,8261,1403048362,4046,7169,120
9222,5211,1403068342,7097,55110,260
10222,2161,1403078333,0168,38411,400
11221,9091,1403088323,3249,21612,540
12221,6011,1403098313,63310,04713,680
13221,2921,1403108303,94310,87714,820

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Listing Agent: Ashraf Memon
Listing Office: Guidance Realty Homes LLC
9125 W. Emerson st. Des Plaines

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