Price: $500,000
MLS #: 10327421
Status: Contingent
Welcome home to an immaculately maintained, all brick, 2-unit building that is move-in ready condition, and in an excellent area! You can live in one unit and rent out the other units to reduce your mortgage payment, or you can rent out all units! Each unit features h/w flooring, a formal LR/DR, two (2) spacious bedrooms with generous closet space, an in-unit washer/dryer, and many large windows for that natural, crisp sunlight. Then, enjoy the large kitchen with its beautiful cabinetry and its s/s appliance set! Each unit can easily rent for $1,400 per month. Go with FHA financing at 3.5% down for a mortgage payment of about $3,025/month and then subtract out the rental income from one of the units for a net payment of $1,625/month. Go with conventional financing at 20% down for a mortgage payment of about $2,650/month and then subtract out the rental income from one of the units for a net payment of $1,250/month. NOTE: All highest-and-best offers are due by 8 pm on April 7, 2019.
| Month | Balance | Payment | Principal | Interest | Equity | Total Interest | Total Payments |
|---|---|---|---|---|---|---|---|
| 1 | 375,000 | 1,901 | 495 | 1,406 | 495 | 1,406 | 1,901 |
| 2 | 374,505 | 1,901 | 497 | 1,404 | 991 | 2,811 | 3,802 |
| 3 | 374,009 | 1,901 | 498 | 1,403 | 1,490 | 4,213 | 5,703 |
| 4 | 373,510 | 1,901 | 500 | 1,401 | 1,990 | 5,614 | 7,604 |
| 5 | 373,010 | 1,901 | 502 | 1,399 | 2,492 | 7,013 | 9,505 |
| 6 | 372,508 | 1,901 | 504 | 1,397 | 2,996 | 8,410 | 11,406 |
| 7 | 372,004 | 1,901 | 506 | 1,395 | 3,502 | 9,805 | 13,307 |
| 8 | 371,498 | 1,901 | 508 | 1,393 | 4,010 | 11,198 | 15,208 |
| 9 | 370,990 | 1,901 | 510 | 1,391 | 4,520 | 12,589 | 17,109 |
| 10 | 370,480 | 1,901 | 512 | 1,389 | 5,032 | 13,978 | 19,010 |
| 11 | 369,968 | 1,901 | 514 | 1,387 | 5,545 | 15,366 | 20,911 |
| 12 | 369,455 | 1,901 | 516 | 1,385 | 6,061 | 16,751 | 22,812 |
| 13 | 368,939 | 1,901 | 517 | 1,384 | 6,578 | 18,135 | 24,713 |
Logan Square
North Center
Humboldt Park
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