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2120 DRAKE

City: CHICAGO ZIP: 60623

Built In: U

Lot Size: L

Lot Dimensions: 25X125

# of Units: 2

Unit 1 Floor 1: 3 bedrooms 1 baths $1250

Unit 2 Floor 2: 3 bedrooms 1 baths $1300

Gross Income $30,600

Detailed Listing Description

Attn: Investors solid 2 FLAT GREYSTONE with tenants in place - Updates from 2010 include roof, Hardwood flooring, Bathrooms and kitchens. 2 car exterior parking plus yard space. Each unit has its own w/d and dishwasher. Large newer windows let in a ton of light. Very tall ceilings in each unit. 1st floor has direct access to staircase for basement. Potential for easy Duplex Down. 2 min walk to Central Park Pink Line CTA. Tenants willing to stay. Both on MTM lease.

Additional Property Details

Garage & Parking
  • ParkingS
  • Number of Parking Spaces2
  • Parking on SiteY
  • Parking OwnershipA
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B
  • Tenant Pays Unit 2B
Appliances
  • Appliances Unit 1A,B,C,D,E,S
  • Appliances Unit 2A,B,C,D,E,S
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60623

Listings in this Zip Code average: 2 to 3 units, and are priced at $152,017 to $172,200
This listing is 48% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - North Lawndale

Listings in this Neighborhood average: 3 to 4 units, with average prices of $179,950 to $259,170
This listing is 82% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $30,600 Monthly $2,550
Rental Income Stabilized : Annual $28,080 Monthly $2,340
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$225,0002$112,5007.09%7.351.04%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$2,550$2,340
Year Total$30,600$28,080
Expense
Total$14,643$14,643
Net Operating Income$15,957$13,437
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $2723 $7539 $10262 $856
Total         $2,723 $7,539 $10,262   $5,695 $2,723 $8,418
Stabilized         $2,723 $7,539 $10,262   $3,175 $2,723 $5,898
Custom         $2723 $7539 $10262   $3175 $2723 $5898




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1168,750856223633223633856
2168,5278562246324471,2651,712
3168,3038562256316721,8962,568
4168,0788562266308982,5263,424
5167,8528562276291,1243,1564,280
6167,6268562276291,3523,7845,136
7167,3988562286281,5804,4125,992
8167,1708562296271,8095,0396,848
9166,9418562306262,0395,6657,704
10166,7118562316252,2706,2908,560
11166,4808562326242,5026,9149,416
12166,2488562336232,7347,53810,272
13166,0168562336232,9688,16011,128

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Listing Agent: Ashley Fuhr
Listing Office: RE/MAX Edge
3916 N Broadway Chicago

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