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2 Flat 4445 Spaulding Albany Park Chicago IL Mu I

City: CHICAGO ZIP: 60625

Built In: 1906

Lot Size: K

Lot Dimensions: 30X125

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $N/A

Unit 2 Floor 2: 2 bedrooms 1 baths $1095

Detailed Listing Description

Amazing Opportunity! Well maintained, turn key ready investment property in the highly desirable Albany Park Neighborhood! Solid brick two-flat, situated on an over-sized lot complemented by a quiet, tree lined street. Property consist of two 2-bedrooms, 1-bathroom units, and a 2-car garage for additional income. Features hardwood floors throughout and beautiful architectural details with gorgeous original wood work. Second floor was original a 3 bedroom and can easily be converted back. First floor, hardwood floors were refinished 12-2018. Second floor, hardwood floors were refinished in 2014. New windows replaced on the rear porch 12-2018. All other building exterior windows were replaced in 2014-2015, both bathrooms remodeled in 2010, and both kitchens in the early 2000's. Both units are on their own utilities (separate boilers, hot water tanks, & electric) both boilers replaced in 2005. Basement is full unfinished with separate laundry connections to each unit's utilities.

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
Utilities
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
Appliances
  • Appliances Unit 1A,B,S
  • Appliances Unit 2A,B,E,S
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60625

Listings in this Zip Code average: 2 to 3 units, and are priced at $524,450 to $650,684
This listing is 14% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Albany Park

Listings in this Neighborhood average: 2 to 3 units, with average prices of $382,923 to $549,758
This listing is 17% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $28,176 Monthly $2,348
Rental Income Stabilized : Annual $34,860 Monthly $2,905
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$449,0002$224,5002.60%15.940.65%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$2,348$2,905
Year Total$28,176$34,860
Expense
Total$16,480$16,480
Net Operating Income$11,696$18,380
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $5433 $15043 $20476 $1707
Total         $5,433 $15,043 $20,476   $-8,780 $5,433 $-3,347
Stabilized         $5,433 $15,043 $20,476   $-2,096 $5,433 $3,337
Custom         $5433 $15043 $20476   $-2096 $5433 $3337




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1336,7501,7074441,2634441,2631,707
2336,3061,7074461,2618902,5243,414
3335,8601,7074481,2591,3383,7835,121
4335,4121,7074491,2581,7875,0416,828
5334,9631,7074511,2562,2386,2978,535
6334,5121,7074531,2542,6907,55210,242
7334,0601,7074541,2533,1458,80411,949
8333,6051,7074561,2513,60010,05613,656
9333,1501,7074581,2494,05811,30515,363
10332,6921,7074591,2484,51812,55217,070
11332,2321,7074611,2464,97913,79818,777
12331,7711,7074631,2445,44215,04220,484
13331,3081,7074651,2425,90616,28522,191

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Listing Agent: David Banach
Listing Office: Keller Williams Chicago-O'Hare
4400 N. Merrimac Chicago

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