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3 Flat 3225 Ridgeway Avondale Chicago IL Mu Inves

City: CHICAGO ZIP: 60618

Built In: 1901

Lot Size: A

Lot Dimensions: 30X125

# of Units: 3

Unit 1 Floor 1: 3 bedrooms 1 baths $1450

Unit 2 Floor 2: 3 bedrooms 1 baths $1750

Unit 3 Floor 3: 3 bedrooms 1 baths $1800

Gross Income $61,800

Detailed Listing Description

Avondale, brick, legal 3 flat near the Belmont blue line with all units completely rehabbed! All units are 3br/1ba with large bedrooms with enclosed back porch. New HVAC in all units. Common Laundry in basement. 2 car garage. $100 per garage spot nets another $2400/year in income. New construction going up on the corner of the street means even more growth in the neighborhood. This location is prime!

Additional Property Details

Garage & Parking
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces2
  • ParkingG
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
  • Tenant Pays Unit 3B,C,D
  • Appliances Unit 1A,B,E,F,I,S
  • Appliances Unit 2A,B,E,F,I,S
  • Appliances Unit 3A,B,E,F,I,S
  • 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 15% more than other 3 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 36% more than other 3 unit listings in this neighborhood.

Calculated Rents
Rental Income : Annual $60,000 Monthly $5,000
Rental Income Stabilized : Annual $70,344 Monthly $5,862
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,000$5,862
Year Total$60,000$70,344
Net Operating Income$36,963$47,307
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Mortgage $8167 $22615 $30782 $2566
Total         $8,167 $22,615 $30,782   $6,181 $8,167 $14,348
Stabilized         $8,167 $22,615 $30,782   $16,525 $8,167 $24,692
Custom         $8167 $22615 $30782   $16525 $8167 $24692

MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments

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Listing Agent: Steven Kehoe
Listing Office: Keller Williams Chicago-Lincoln Park
200 N. Jefferson #910 Chicago

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