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2 Flat 3649 Magnolia Lake View Chicago IL Mu Inve

City: CHICAGO ZIP: 60613

Built In: U

Lot Size: K

Lot Dimensions: 30 X 123

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $1500

Unit 2 Floor 2: 4 bedrooms 2 baths $4000

Detailed Listing Description

Well maintained 3 story red brick building in Southport Corridor/Wrigleyville/BLAINE School District. Converted to 2 units by current owner. Floors 2 and 3 are a duplex up 4bdrm 2.5bth owners unit with incredible light! First floor is a 2bdrm 1bth rental. Great for investment (projected monthly income $5,850), single family conversion, or live-in owner with rental income (let the tenant pay your property taxes!) Large yard and 2 1/2 car brick garage with additional exterior parking space for 3rd car. Zoning is RT-3.5. See floorplan (and more) in additional information tab.

Additional Property Details

Garage & Parking
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces2.5
  • 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,J,Q,S,U
  • Appliances Unit 2A,B,C,D,E,F,G,I,J,N,S,T
Schools
  • Grade SchoolBLAINE ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60613

Listings in this Zip Code average: 2 to 3 units, and are priced at $750,873 to $1,005,200
This listing is 52% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Lake View

Listings in this Neighborhood average: 3 to 4 units, with average prices of $1,039,522 to $1,694,786
This listing is 29% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $66,000 Monthly $5,500
Rental Income Stabilized : Annual $68,736 Monthly $5,728
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$1,138,0002$569,0003.53%17.240.50%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,500$5,728
Year Total$66,000$68,736
Expense
Total$25,808$25,808
Net Operating Income$40,192$42,928
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $13769 $38126 $51895 $4325
Total         $13,769 $38,126 $51,895   $-11,703 $13,769 $2,066
Stabilized         $13,769 $38,126 $51,895   $-8,967 $13,769 $4,802
Custom         $13769 $38126 $51895   $-8967 $13769 $4802




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1853,5004,3251,1243,2011,1243,2014,325
2852,3764,3251,1293,1962,2536,3978,650
3851,2474,3251,1333,1923,3869,58912,975
4850,1144,3251,1373,1884,52312,77717,300
5848,9774,3251,1413,1845,66415,96121,625
6847,8364,3251,1463,1796,81019,14025,950
7846,6904,3251,1503,1757,96022,31530,275
8845,5404,3251,1543,1719,11425,48634,600
9844,3864,3251,1593,16610,27328,65238,925
10843,2274,3251,1633,16211,43531,81543,250
11842,0654,3251,1673,15812,60334,97247,575
12840,8974,3251,1723,15313,77438,12651,900
13839,7264,3251,1763,14914,95041,27556,225

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Listing Agent: Emily Weseman
Listing Office: RE/MAX Exclusive Properties
3649 N. Magnolia Chicago

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