2 Flat 1738 Richmond West Town Chicago IL Mu Inve| Chicago Property Listings – X Plus Real Estate

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2 Flat 1738 Richmond West Town Chicago IL Mu Inve

City: Chicago ZIP: 60647

Built In: 1875

Lot Size: A

Lot Dimensions: 25 X 125

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $1250

Unit 2 Floor 2: 3 bedrooms 1 baths $1425

Detailed Listing Description

Fully rented 2-flat in prime Logan Square location. Purchase and begin collecting rent Day 1 for a profitable investment. Steps to The 606 Trail and all of the great restaurants on Armitage Row: Parsons, Moonlighter, Scofflaw, Dos Urban Cantina, Osteria Langhe, Spice Room, Middlebrow & Giant. Quick 10-minute walk to the California Blue Line and easy access to the highway makes commuting a breeze from this location. Enjoy Palmer Square Park, Humboldt Park and the boulevards for plenty of green space in the neighborhood. Property well maintained with recent updates including fresh paint, updated kitchen floor in unit 2 and freshly stained deck. 2.5 car garage is rented for additional income. Garage has party door and covered concrete patio - great for entertaining. Laundry on site (could add coin operation for additional income). Fenced-in yard is perfect for pets. Fantastic block with great neighbors surrounded by single family homes and new construction. Sold in "As-Is" condition.

Additional Property Details

Garage & Parking
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces2.5
  • ParkingG
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
Appliances
  • Appliances Unit 1A,B
  • Appliances Unit 2A,B
Schools
  • Grade SchoolMoos Elementary School
  • Grade School District299
  • Jr High/Middle SchoolMoos Elementary School
  • Jr High/Middle School District299
  • High SchoolClemente Community Academy Senio
  • High School District299

Comparative Data

Zip Code Comparison: 60647

Listings in this Zip Code average: 2 to 3 units, and are priced at $518,344 to $620,208
This listing is 25% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - West Town

Listings in this Neighborhood average: 3 to 4 units, with average prices of $873,844 to $1,036,652
This listing is 35% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $32,100 Monthly $2,675
Rental Income Stabilized : Annual $38,016 Monthly $3,168
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$389,0002$194,5003.92%12.120.81%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$2,675$3,168
Year Total$32,100$38,016
Expense
Total$16,853$16,853
Net Operating Income$15,247$21,163
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $4707 $13033 $17740 $1479
Total         $4,707 $13,033 $17,740   $-2,493 $4,707 $2,214
Stabilized         $4,707 $13,033 $17,740   $3,423 $4,707 $8,130
Custom         $4707 $13033 $17740   $3423 $4707 $8130




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1291,7501,4793851,0943851,0941,479
2291,3651,4793861,0937712,1872,958
3290,9791,4793881,0911,1593,2784,437
4290,5911,4793891,0901,5484,3685,916
5290,2021,4793911,0881,9395,4567,395
6289,8111,4793921,0872,3316,5438,874
7289,4191,4793941,0852,7257,62810,353
8289,0251,4793951,0843,1208,71211,832
9288,6301,4793971,0823,5179,79413,311
10288,2331,4793981,0813,91510,87514,790
11287,8351,4794001,0794,31511,95416,269
12287,4351,4794011,0784,71613,03217,748
13287,0341,4794031,0765,11814,10919,227

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Listing Agent: Jennifer Downey Piehl
Listing Office: @properties
3021 W. Armitage Ave #306 Chicago

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