4 Flat 2945 Ridgeway Avondale Chicago IL Mu Inves| Chicago Property Listings – X Plus Real Estate

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4 Flat 2945 Ridgeway Avondale Chicago IL Mu Inves

City: CHICAGO ZIP: 60618

Built In: U

Lot Size: A

Lot Dimensions: 25X125

# of Units: 4

Unit 1 Floor 1: 2 bedrooms 1 baths $1500

Unit 2 Floor 1: 2 bedrooms 1 baths $1600

Unit 3 Floor 2: 2 bedrooms 1 baths $1400

Unit 4 Floor 2: 2 bedrooms 1 baths $1500

Detailed Listing Description

Cash flow positive legal 4 flat with room to grow. Huge unfinished attic space, basement and a coach house in back give exponential investment opportunities. Duplex up and down or convert into a 7 flat! Incredible potential! Or leave as is and let it make money for you. One unit has been left vacant for possible owners unit. All 4 units have been renovated and easily rent out. NEW windows, HVAC, gutters. 1 block off of all Milwaukee has to offer. Walking distance to CTA blue line Logan Square. Live in one unit and let the others pay your mortgage or rent out all 4 and sit back as the money comes in!

Additional Property Details

Garage & Parking
  • ParkingN
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
  • Tenant Pays Unit 3B,C,D
  • Tenant Pays Unit 4B,C,D
  • Appliances Unit 1A,B,E,F,S
  • Appliances Unit 2A,B,E,F,S
  • Appliances Unit 3A,B,E,F,S
  • Appliances Unit 4A,B,E,F,S
  • 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 10% more than other 4 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Avondale

Listings in this Neighborhood average: 2 to 3 units, with average prices of $441,242 to $496,207
This listing is 35% more than other 4 unit listings in this neighborhood.

Calculated Rents
Rental Income : Annual $72,000 Monthly $6,000
Rental Income Stabilized : Annual $70,392 Monthly $5,866
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$6,000$5,866
Year Total$72,000$70,392
Net Operating Income$42,656$41,048
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Mortgage $10890 $30153 $41043 $3421
Total         $10,890 $30,153 $41,043   $1,613 $10,890 $12,503
Stabilized         $10,890 $30,153 $41,043   $5 $10,890 $10,895
Custom         $10890 $30153 $41043   $5 $10890 $10895

MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments

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Listing Agent: Philip Schwartz
Listing Office: @properties
5452 W. Cullom Ave Chicago

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