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2 Flat 3453 Ridgeway Chi Avondale Chicago IL Mu

City: CHICAGO ZIP: 60618

Built In: 1920

Lot Size: Less Than .25 Acre

Lot Dimensions: 30X125

# of Units: 2

Unit 1 Floor 1: 4 bedrooms 3 baths $0

Unit 2 Floor 2: 3 bedrooms 2 baths $2000

Detailed Listing Description

Check out the virtual walkthrough! Exceptionally rehabbed brick 2 flat with incredible 4 bed/3 bath owner's unit. This is the perfect property for someone looking for single family home living with income. The 2nd floor is a 3 bed/ 2 bath bringing in $2k per month. The rental income significantly offsets your mortgage allowing you to build equity and reduce your payment. Completely gutted with all new elec, plumbing, mechanicals, roof, windows, this property is truly turn key. Stunning modern finishes throughout including ebony hardwood floors, white cabinets, quartz counters, and stylish tile selections. Wonderful floor plans with open concept and lots of light. Enjoy a fenced in back yard and 2 car garage. Amazing neighborhood location on the border of Avondale and Irving Park. Walking distance to Blue Line and easy access to 90/94. Located 2 blocks to CPS Level 1 Reilly Elementary.

Additional Property Details

Garage & Parking
  • Gargage DetailsGarage Door Opener(s),
  • Gargage On SiteYes
  • Gargage OwnershipOwned
  • Gargage TypeDetached,
  • Number of Gargage Spaces2
  • ParkingGarage,
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Electric, Gas, Heat,
  • Tenant Pays Unit 2Electric, Gas, Heat,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Central Air Conditioner, Range Hood, Hardwood Floors,
  • Appliances Unit 2Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Central Air Conditioner,
Schools
  • Grade SchoolREILLY ELEMENTARY SCHOOL
  • 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 56% 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 70% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $24,000 Monthly $2,000
Rental Income Stabilized : Annual $29,964 Monthly $2,497
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$749,9002$374,9501.47%31.250.33%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$2,000$2,497
Year Total$24,000$29,964
Expense
Total$13,010$13,010
Net Operating Income$10,990$16,954
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $9074 $25124 $34198 $2850
Total         $9,074 $25,124 $34,198   $-23,208 $9,074 $-14,134
Stabilized         $9,074 $25,124 $34,198   $-17,244 $9,074 $-8,170
Custom         $9074 $25124 $34198   $-17244 $9074 $-8170




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1562,4252,8507412,1097412,1092,850
2561,6842,8507442,1061,4854,2155,700
3560,9402,8507462,1042,2316,3198,550
4560,1942,8507492,1012,9808,42011,400
5559,4452,8507522,0983,73210,51814,250
6558,6932,8507552,0954,48712,61317,100
7557,9382,8507582,0925,24514,70519,950
8557,1802,8507612,0896,00616,79422,800
9556,4192,8507632,0876,76918,88125,650
10555,6562,8507662,0847,53520,96528,500
11554,8902,8507692,0818,30523,04531,350
12554,1202,8507722,0789,07725,12334,200
13553,3482,8507752,0759,85227,19837,050

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Listing Agent: Elizabeth Lothamer
Listing Office: @properties
2929 W Leland Ave Chicago

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