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$230,000 · NORTHLAKE, IL 60164
Works for flippers · Works for landlords

Available

$230,000Asking price

3 bd · 1 ba · 1,309 sq ft · built 1948

NORTHLAKE, IL 60164

No contract on file

via InvestorLift Classic

7 views · listed 4 days ago

Works for flippers

Works for landlords

The Numbers

Flip

Rental

Sells for (ARV)From the listing: $370,000
Asking price: −$230,000
RepairsMiddle of the seller’s $40,000 – $60,000. Ours: $41,500 – $74,500: −$50,000
Loan, holding, closing20% down, 12% interest, 2 points, 80 days: −$26,519
Profit17.2% of ARV · flippers want 10%+: $63,481
Works

Works for a flipper up to $254,000.

SHERMAN PROPERTY EXPERTS

Tristin McCarthy

No reviews yet

Comps

Sales

Rents

ARV $370,000

From the listing

The seller picked no comps.

The sales behind this value are shown to members.

ARV $370,000

From the listing

The seller picked no comps.

The sales behind this value are shown to members.

SHERMAN PROPERTY EXPERTS

Tristin McCarthy

No reviews yet

Seller Description

310 Bernice Ave is a vacant 3 bed / 1 bath single-family in Northlake (Cook County) priced at $230,000 against a $370,000 ARV — that's $140K of spread, roughly 38% below retail value. The condition is Major Repair, but the money items are already handled: roof, furnace, central A/C, and water heater are all recent and functional. Your budget goes into the cosmetic and interior work that actually moves resale value, not into mechanicals. Firsthand walkthrough by our acquisitions rep below.

DEAL SNAPSHOT

Type: SFR / Frame — built 1948

Beds/Baths: 3 / 1

Living Area: 1,309 sqft

Lot: 11,250 sqft (0.258 ac)

Parking: Attached garage

Buy-Now Price: $230,000

Bidding Opens: $230,000

ARV: $370,000

Spread: $140,000 (38% below ARV)

Rehab Estimate: $40,000–$60,000

Occupancy: Vacant

INVESTMENT HIGHLIGHTS

- $140K spread into a $370K ARV with a mid-range $40K–$60K rehab

- Big-ticket systems already recent: roof (4-10 yrs, good), furnace (0-5 yrs, works), central A/C (works), water heater (0-5 yrs)

- Solid shell: full basement in good condition, vinyl siding good, windows good

- Oversized 11,250 sqft lot with attached garage

- Vacant with all utilities on — walk it and start the day you close

REHAB / CONDITION

Overall: Major Repair, but structurally and mechanically sound. Work is interior and cosmetic: kitchen is poor (10-20 yrs) and needs a full update, both baths poor, walls/ceilings poor, hardwood flooring is fair and may be restorable to save budget. Appliances included. Foundation, siding, windows, and all major systems check out. Electrical noted unknown — budget a verification. No mold or pests observed.

WHY THIS DEAL STANDS OUT

Most "major repair" deals bleed you on roof, HVAC, and water heater. Here those are done. That means more of your rehab dollars convert directly to resale value, and more predictable margin. Northlake is a tight, owner-occupant retail market — a clean cosmetic flip on a big lot sells.

DISPO NOTES / TERMS

Occupancy: Vacant, all utilities on, easy access for walkthroughs and contractor bids. Cash or hard money. Clean, fast close with a real seller behind it. Title work underway.

Serious cash buyers — call or text Tristin McCarthy to lock your showing and get your offer in before bidding heats up.