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2 Flat 2449 Marshfield Lincoln Park Chicago IL Mu

City: CHICAGO ZIP: 60614

Built In: 1876

Lot Size: L

Lot Dimensions: 25X125

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 2 baths $2325

Unit 2 Floor 2: 2 bedrooms 1 baths $3300

Gross Income $67,500

Net Op. Income $51,202

Detailed Listing Description

Attention Investors! 2-flat with 2 car garage in prime Lincoln Park location. 6.5% cap rate and almost $70K gross income! Top floor unit - full gut rehab in Fall 2018 with new mechanicals, new appliances, new HVAC, new water heater! It is the perfect owner's unit with 2 beds, 2 full baths, 2 loft spaces, 2 private decks and high ceilings w/ huge windows! Could easily be made into a 3 bed! This property is great for the armchair investor, but there are still a lot of value add opportunities! Both units have central heat/air, ample storage, D/W and W/D. Unit#1 was renovated in 2015 with new floors, new HVAC and new washer/dryer and is a 2 bed, 2 bath + private deck! 2 car garage is good for additional rent. Premier location: Marshfield Ave is full of $1.6M+, new construction single family homes, close to parks, shops, restaurants, nightlife and public transportation! And - award winning Prescott elementary is just 1 block away!

Additional Property Details

Garage & Parking
  • Gargage DetailsA
  • 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,E
  • Tenant Pays Unit 2B,C,D,E
Appliances
  • Appliances Unit 1A,B,C,D,E,F,I,M,P,U
  • Appliances Unit 2A,B,C,D,E,F,I,L,M,N,P,R,S,T,U
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • 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 1% 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 6% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $67,500 Monthly $5,625
Rental Income Stabilized : Annual $58,044 Monthly $4,837
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$799,0002$399,5005.64%11.840.61%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,625$4,837
Year Total$67,500$58,044
Expense
Total$22,445$22,445
Net Operating Income$45,055$35,599
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $9668 $26769 $36437 $3037
Total         $9,668 $26,769 $36,437   $8,618 $9,668 $18,286
Stabilized         $9,668 $26,769 $36,437   $-838 $9,668 $8,830
Custom         $9668 $26769 $36437   $-838 $9668 $8830




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1599,2503,0377902,2477902,2473,037
2598,4603,0377932,2441,5834,4916,074
3597,6673,0377962,2412,3786,7339,111
4596,8723,0377992,2383,1778,97112,148
5596,0733,0378022,2353,97911,20615,185
6595,2713,0378052,2324,78413,43818,222
7594,4663,0378082,2295,59115,66821,259
8593,6593,0378112,2266,40217,89424,296
9592,8483,0378142,2237,21620,11727,333
10592,0343,0378172,2208,03322,33730,370
11591,2173,0378202,2178,85324,55433,407
12590,3973,0378232,2149,67626,76836,444
13589,5743,0378262,21110,50228,97939,481

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Listing Agent: Melanie Giglio
Listing Office: Compass
1844 W Erie St Chicago

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