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4 Flat 3347 49 Pierce Humboldt Park Chicago IL Mu

City: CHICAGO ZIP: 60651

Built In: 1920

Lot Size: A

Lot Dimensions: 37.5 X 124

# of Units: 4

Unit 1 Floor 1: 3 bedrooms 1 baths $1800

Unit 2 Floor 2: 3 bedrooms 1 baths $1500

Unit 3 Floor 1: 2 bedrooms 1 baths $1150

Unit 4 Floor 2: 2 bedrooms 1 baths $1100

Gross Income $58,100

Net Op. Income $43,886

Detailed Listing Description

Solid brick four flat with off street parking for three units (could easily be modified to accommodate 4 cars), just steps from Humboldt Park and the 606 trail. Unusual two entrance design creates the intimacy of two two flats. Each unit has individual central heating and air conditioning, granite counters, stainless appliances, hardwood floors. Windows were replaced in 2005. Upper floor units each have private balconies. Leased laundry equipment in full basement. All rents are well below market. Units are all month to month, allowing for new owner flexibility. One unit currently vacant but has been rented on moth to month basis for April 1st occupancy. First floor apartment at 3049 Pierce offers opportunity to duplex to basement for large owner's unit.

Additional Property Details

Garage & Parking
  • ParkingS
  • Number of Parking Spaces3
  • Parking on SiteY
  • Parking OwnershipA
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
  • Tenant Pays Unit 3B,C,D
  • Tenant Pays Unit 4B,C,D
Appliances
  • Appliances Unit 1A,B,E
  • Appliances Unit 2A,B,E
  • Appliances Unit 3A,B,E
  • Appliances Unit 4A,B,E
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60651

Listings in this Zip Code average: 2 to 3 units, and are priced at $193,400 to $245,557
This listing is 228% more than other 4 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Humboldt Park

Listings in this Neighborhood average: 2 to 3 units, with average prices of $224,352 to $309,067
This listing is 172% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $66,600 Monthly $5,550
Rental Income Stabilized : Annual $56,976 Monthly $4,748
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$789,0004$197,2505.64%11.850.60%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,550$4,748
Year Total$66,600$56,976
Expense
Total$22,094$22,094
Net Operating Income$44,506$34,882
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $9547 $26434 $35981 $2999
Total         $9,547 $26,434 $35,981   $8,525 $9,547 $18,072
Stabilized         $9,547 $26,434 $35,981   $-1,099 $9,547 $8,448
Custom         $9547 $26434 $35981   $-1099 $9547 $8448




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1591,7502,9997802,2197802,2192,999
2590,9702,9997832,2161,5634,4355,998
3590,1872,9997862,2132,3496,6488,997
4589,4012,9997892,2103,1378,85911,996
5588,6132,9997922,2073,92911,06614,995
6587,8212,9997952,2044,72413,27017,994
7587,0262,9997982,2015,52115,47220,993
8586,2292,9998012,1986,32217,67023,992
9585,4282,9998042,1957,12619,86526,991
10584,6242,9998072,1927,93222,05829,990
11583,8182,9998102,1898,74224,24732,989
12583,0082,9998132,1869,55526,43335,988
13582,1952,9998162,18310,37028,61738,987

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Listing Agent: Barry Kreisler
Listing Office: Phoenix Partners 2, LLC.
2523 N. Spaulding Ave. Chicago

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