$245,496
11955 S Prairie Ave
Chicago IL, 60628
Financial Returns
FinancingCash Flow/mo: $1,033
CashCash Flow/mo: $2,197
31.38%IRR
10.37%CAP Rate
17.71%Cash On Cash
$29,504Equity
Property Information
- Beds: 5
- Baths: 2
- Sq Feet: 1,750
- Year: 1960
- Monthly Rent: $2,600
- Property Taxes: $1,600
- Annual HOA: $0
Newly renovated! It is currently vacant advertising for a tenant.
*FREE PROPERTY MANAGEMENT FOR THE FIRST 12 MONTHS! After that it is 8%.
Hardwood floors redone, recessed lighting, chef's kitchen with quartz countertops, stainless steel appliances, lower level is finished with 2 bedrooms added.
Financial Projections
Debt (182k, 178k, 172k, 156k) Equity (72k, 77k, 82k, 98k) Appreciation (14k, 43k, 76k, 176k) Cash Positioning (12k, 40k, 70k, 163k)
Financing Assumptions
| Loan Amount | $184,122 |
| Financed Rehab Amount | $0 |
| Interest Rate | 6.5% |
| Mortgage (yrs) | 30.0 |
| Mortgage Payment | $1,164 |
Initial Investment
| Down Payment (25%) | $61,374 |
| Rehab Amount | $0 |
| Est Closing Cost (2%) | $4,910 |
| Points (2%) | $3,682 |
| Total Out Of Pocket | $69,966 |
Property KPI Without Financing
| Annual Cash Flow | $26,359 |
| All In Cost | $254,088 |
| Cap Rate | 10.37% |
Property KPI With Financing
| Annual Cash Flow | $12,393 |
| Total Out Of Pocket | $69,966 |
| Cash On Cash | 17.71% |
Swipe the table to see Year 1 to Year 10 →
| Annual Revenue Increase | 3% | 3% | 3% | 3% | |
| Annual Operating Expense Increase | 3% | 3% | 3% | 3% | |
| Annual Expense Ratio | 13.79% | 13.79% | 13.79% | 13.79% | |
| Monthly | Year 1 | Year 3 | Year 5 | Year 10 | |
|---|---|---|---|---|---|
| Revenues | |||||
| Potential Rental Income | $2,600 | $31,200 | $33,100 | $35,116 | $40,709 |
| Vacancy Rate (2%) | $52 | $624 | $662 | $702 | $814 |
| Gross Rental Income | $2,548 | $30,576 | $32,438 | $34,414 | $39,895 |
| Expenses | |||||
| Estimated Annual Property Taxes | $133 | $1,600 | $1,697 | $1,801 | $2,088 |
| Estimated Annual Homeowners Insurance | $142 | $1,700 | $1,804 | $1,913 | $2,218 |
| Maintenance & Repairs (3%) | $76 | $917 | $973 | $1,032 | $1,197 |
| Estimated Annual Prop Mgmt Fee (0%) | $0 | $0 | $0 | $0 | $0 |
| Estimated Annual HOA Dues | $0 | $0 | $0 | $0 | $0 |
| Utilities | $0 | $0 | $0 | $0 | $0 |
| Reserves | $0 | $0 | $0 | $0 | $0 |
| Total Expenses | $351 | $4,217 | $4,474 | $4,747 | $5,503 |
| Returns Without Financing | |||||
| NOI (Cash Available) | $2,197 | $26,359 | $27,964 | $29,667 | $34,392 |
| Net Cashflow | $26,359 | $27,964 | $29,667 | $34,392 | |
| Cap Rate | 10.37% | 11.01% | 11.68% | 13.54% | |
| Returns With Financing | |||||
| NOI (Cash Available) | $2,197 | $26,359 | $27,964 | $29,667 | $34,392 |
| Mortgage | $1,164 | $13,965 | $13,965 | $13,965 | $13,965 |
| Net Cashflow | $12,393 | $13,999 | $15,702 | $20,427 | |
| Cash On Cash | 17.71% | 20.01% | 22.44% | 29.2% | |
Property Photos
Projections assume 3% annual rent growth and 3% annual expense growth, based on the Turnkey End Buyer strategy. All figures are estimates for information only. Verify independently before investing.