Recently built in 2005. Asking 57,000 cash. Or Owner financing for 7,000 Down and monthly payments of 500 per month. With a 5 year term. Fantatic Buy and Hold Opportunity. Property was recently built in 2005. Brick 3 units with, 9 bedrooms and 4.5 bathrooms. in North Lawndale. Section 8 will pay 1300 per unit. Needs Work.The Numbers:Fix and Flip$59,000 Puchase price$3,800 Holding costs (taxes, insurance, utilities)$60,000 Repairs$3,600 Closing Costs$10,500 Realtor fee 6 percent$175,000 Resale Price$38,100 Net ProfitFor Buy and Hold:$59,000 Purchase price$45,000 Fix up$1,800 Closing Costs$1,300 per month for each unit. 46800 per year$14,400 per year Expenses insurance, utilities, taxes Property management,$7,020 Vacancy and maintenance$25,380 Net Income per year.Cash on Cash Return 23 PercentThe Repairs:Needs approximately 60,000 in repairs. Detailed scope of work is available upon request.Comparables:1628 S. Homan Chicago IL sold 11/12/2013 $170,5001550 S. Homan Chicago IL sold 9/17/2013 $170,0001303 S Christiana Chicago IL sold 11/6/2013 $150,0001223 S. Tripp Ave Chicago IL sold 10/29/2013 $220,000After repair value is $175,000Act Fast this will be gone Fast. The first one with a signed contract and 2,000 non refundable earnest money gets the deal.Earnest money required 2,000. non refundableProof of funds required for viewing.Please due your own due diligence.Do you know someone that would buy this deal please forward this email we do compensate for referrals!Need a Hard Money Lender? We have lenders ready to lend!Looking for other wholesale properties go to Checkout our inventory the best deals never hit our site.
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