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2 Flat 2532 Ashland Lincoln Park Chicago IL Mu In

City: CHICAGO ZIP: 60614

Built In: 1886

Lot Size: A

Lot Dimensions: 25X108

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $1650

Unit 2 Floor 2: 4 bedrooms 1 baths $1850

Gross Income $4,470

Net Op. Income $51,000

Detailed Listing Description

Attention investors! This is your chance. Redevelop or keep as income producing property. Fantastic location, fantastic cash flow. Prescott elementary and close to Wrightwood Park. Legal 2 unit consists of a duplex up, main level unit and finished basement. Gross monthly rental income $4470. A new owner could rehab each unit as the leases expire and get a lot more in rent! First floor unit has wide open floorplan, tall ceilings, hardwood floors in living room and a rehabbed bathroom in 2017. Second floor duplex unit has dramatic wall of windows, rehabbed kitchen in 2017, hardwood floors in living room and interior spiral staircase. Two exterior parking spaces and enclosed porch. Unit 1 is now vacant and 2nd floor unit has long terms tenants. Tons of new construction nearby!! Also listed for land sale, potential tear down.

Additional Property Details

Garage & Parking
  • ParkingS
  • Number of Parking Spaces2
  • Parking on SiteY
  • Parking OwnershipA
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B
  • Tenant Pays Unit 2B,C,D
Appliances
  • Appliances Unit 1A,B,E,F,J,N,P,W
  • Appliances Unit 2A,B,E,F,J
Schools
  • Grade SchoolPRESCOTT ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle School District299
  • High SchoolLINCOLN PARK HIGH SCHOOL
  • High School District299

Comparative Data

Zip Code Comparison: 60614

Listings in this Zip Code average: 3 to 4 units, and are priced at $1,397,655 to $1,464,000
This listing is 21% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Lincoln Park

Listings in this Neighborhood average: 3 to 4 units, with average prices of $1,494,179 to $1,560,429
This listing is 15% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $42,000 Monthly $3,500
Rental Income Stabilized : Annual $46,572 Monthly $3,881
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$640,0002$320,0003.10%15.240.61%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$3,500$3,881
Year Total$42,000$46,572
Expense
Total$22,149$22,149
Net Operating Income$19,851$24,423
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $7744 $21442 $29186 $2433
Total         $7,744 $21,442 $29,186   $-9,335 $7,744 $-1,591
Stabilized         $7,744 $21,442 $29,186   $-4,763 $7,744 $2,981
Custom         $7744 $21442 $29186   $-4763 $7744 $2981




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1480,0002,4336331,8006331,8002,433
2479,3672,4336351,7981,2683,5984,866
3478,7322,4336381,7951,9065,3937,299
4478,0942,4336401,7932,5467,1869,732
5477,4542,4336431,7903,1898,97612,165
6476,8112,4336451,7883,83410,76414,598
7476,1662,4336471,7864,48112,55017,031
8475,5192,4336501,7835,13114,33319,464
9474,8692,4336521,7815,78316,11421,897
10474,2172,4336551,7786,43817,89224,330
11473,5622,4336571,7767,09519,66826,763
12472,9052,4336601,7737,75521,44129,196
13472,2452,4336621,7718,41723,21231,629

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Listing Agent: Sarah Ziehr
Listing Office: Redfin Corporation
4623 N Hermitage Chicago

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