4 Flat 1434 Homan North Lawndale Chicago IL Mu In| Chicago Property Listings – X Plus Real Estate

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4 Flat 1434 Homan North Lawndale Chicago IL Mu In

City: Chicago ZIP: 60623

Built In: 1901

Lot Size: K

Lot Dimensions: 50X124

Lot Description: H

# of Units: 4

Unit 1 Floor 1: 3 bedrooms 1 baths $1250

Unit 2 Floor 2: 3 bedrooms 1 baths $N/A

Unit 3 Floor 2: 3 bedrooms 1 baths $1250

Unit 4 Floor 2: 3 bedrooms 1 baths $1250

Detailed Listing Description

HUGE Fully Rehabbed 4 unit building located in opportunity zone just off Douglas BLVD. This building features 4 large 3 bedroom units gut rehabbed with high quality finishes including new Mechanical's, Bathrooms, Kitchens (granite counter-tops), Flooring, Doors, Tuck-pointing rear porch, Landscaping, etc. The building also features a massive basement that has already had plumbing and gas service added for an additional 2 units that ARE conforming to city code and zoning. This is an amazing opportunity to acquire a 4 unit with (residential financing) and add 2 additional units later for a huge increase in cashflow. Currently 50% occupied with high market rents, When fully occupied this building produces 10+% CAP!! Great opportunity to live in 1 unit while the other units pay your mortgage and collect a very nice cashflow every month OR rent all 4 and quit your day job while you collect on this cashcow! Conveniently located by Douglass blvd in proximity to downtown, Douglas Park, I-290,

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
  • Appliances Unit 2A,B
  • Appliances Unit 3A,B
  • Appliances Unit 4A,B
  • 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 92% more than other 4 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 69% more than other 4 unit listings in this neighborhood.

Calculated Rents
Rental Income : Annual $55,512 Monthly $4,626
Rental Income Stabilized : Annual $54,840 Monthly $4,570
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$4,626$4,570
Year Total$55,512$54,840
Net Operating Income$27,051$26,379
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Mortgage $5312 $14708 $20020 $1669
Total         $5,312 $14,708 $20,020   $7,031 $5,312 $12,343
Stabilized         $5,312 $14,708 $20,020   $6,359 $5,312 $11,671
Custom         $5312 $14708 $20020   $6359 $5312 $11671

MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments

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Listing Agent: Cecilia Frakes-Mayberry
Listing Office: @properties
1001 N. Milwaukee Ave # 201 Chicago

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