Price: $249,000
MLS #: 10440800
Status: Active
These numbers make sense on this multi-unit! You can utilize FHA financing with a 3.5% down payment and practically live for free while you continue renting the other unit or you can buy it as an investment property and start making money on day one. The first floor unit features two (2) bedrooms and it is already rented for $1,500 per month through May 30, 2020. Your loan officer can use the existing lease as additional income on your loan application as long as the appraiser confirms it on his or her rental schedule, which makes qualifying for this purchase even easier for you! Then live in the second floor, one (1) bedroom unit or rent it for $1,000 per month. As a full rental, your monthly cash flow is $2,500 per month or $30,000 per year. Please keep in mind that: a) you cannot put a garage on this property but there is ample street parking and b) the foundation footing was lifted a little to level out both floors. This is a great investment! Very low taxes! A must see.
| Month | Balance | Payment | Principal | Interest | Equity | Total Interest | Total Payments |
|---|---|---|---|---|---|---|---|
| 1 | 186,750 | 947 | 247 | 700 | 247 | 700 | 947 |
| 2 | 186,503 | 947 | 248 | 699 | 494 | 1,400 | 1,894 |
| 3 | 186,256 | 947 | 249 | 698 | 743 | 2,098 | 2,841 |
| 4 | 186,007 | 947 | 249 | 698 | 992 | 2,796 | 3,788 |
| 5 | 185,758 | 947 | 250 | 697 | 1,243 | 3,492 | 4,735 |
| 6 | 185,507 | 947 | 251 | 696 | 1,494 | 4,188 | 5,682 |
| 7 | 185,256 | 947 | 252 | 695 | 1,746 | 4,883 | 6,629 |
| 8 | 185,004 | 947 | 253 | 694 | 2,000 | 5,576 | 7,576 |
| 9 | 184,750 | 947 | 254 | 693 | 2,254 | 6,269 | 8,523 |
| 10 | 184,496 | 947 | 255 | 692 | 2,509 | 6,961 | 9,470 |
| 11 | 184,241 | 947 | 256 | 691 | 2,765 | 7,652 | 10,417 |
| 12 | 183,985 | 947 | 257 | 690 | 3,022 | 8,342 | 11,364 |
| 13 | 183,728 | 947 | 258 | 689 | 3,280 | 9,031 | 12,311 |
Albany Park
Portage Park
West Town
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