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2 Flat 4042 Springfield Irving Park Chicago IL Mu

City: Chicago ZIP: 60618

Built In: 1923

Lot Size: K

Lot Dimensions: 35X126

Lot Description: H

# of Units: 2

Unit 1 Floor 1: 3 bedrooms 2 baths $1725

Unit 2 Floor 2: 2 bedrooms 1 baths $1525

Gross Income $3,250

Net Op. Income $2,890

Detailed Listing Description

This 2 flat with a non-traditional look gives it the appearance of a single family on the outside with single family style floor plans on the inside. These beautifully renovated units maintain the vintage charm and woodwork while incorporating all the modern day conveniences and are much larger than they appear. 1600 SF 3/2 1st floor and 1500 sf 2.1 2nd floor, both with newer kitchens & baths. Both units have central a/c and the building has a newer boiler, water heater and updated electric and plumbing. This home sits on an oversized lot with a 3 car garage in a superior neighborhood within walking distance to the Blue Line, grocery store, restaurants, park and easy access to the expressway. This is a great property!

Additional Property Details

Garage & Parking
  • Gargage DetailsA,B
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces3
  • ParkingG
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C
  • Tenant Pays Unit 2B,C
Appliances
  • Appliances Unit 1A,B,C,D,E,F,G,I,N,S
  • Appliances Unit 2A,B,C,D,E,F,G,I,K,N,S
Schools
  • Grade SchoolBELDING ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60618

Listings in this Zip Code average: 2 to 3 units, and are priced at $481,048 to $587,571
This listing is 22% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Irving Park

Listings in this Neighborhood average: 2 to 3 units, with average prices of $430,448 to $506,647
This listing is 36% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $39,000 Monthly $3,250
Rental Income Stabilized : Annual $48,720 Monthly $4,060
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$585,0002$292,5004.11%15.000.69%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$3,250$4,060
Year Total$39,000$48,720
Expense
Total$14,969$14,969
Net Operating Income$24,031$33,751
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $7079 $19599 $26678 $2224
Total         $7,079 $19,599 $26,678   $-2,647 $7,079 $4,432
Stabilized         $7,079 $19,599 $26,678   $7,073 $7,079 $14,152
Custom         $7079 $19599 $26678   $7073 $7079 $14152




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1438,7502,2245791,6455791,6452,224
2438,1712,2245811,6431,1603,2884,448
3437,5902,2245831,6411,7434,9296,672
4437,0072,2245851,6392,3286,5688,896
5436,4222,2245871,6372,9158,20511,120
6435,8352,2245901,6343,5059,83913,344
7435,2452,2245921,6324,09711,47115,568
8434,6532,2245941,6304,69113,10117,792
9434,0592,2245961,6285,28714,72920,016
10433,4632,2245991,6255,88616,35422,240
11432,8642,2246011,6236,48617,97824,464
12432,2642,2246031,6217,08919,59926,688
13431,6612,2246051,6197,69521,21728,912

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Listing Agent: Connie Engel
Listing Office: @properties
4045 N. Springfield Chicago

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