6137 W 55th St Chicago, IL 60638

This 3 bedroom / 1.5 bathroom rental makes sense for any rental investor, even in today's changing real estate market. A large equity spread in the deal. A potential turn key property for rental owners, retail sellers, and flippers.

Property is Vacant on a Lockbox. Please contact Dispo Manager for walkthrough options.

Deal Takeaways:

Large Equity in the Deal

Renter/Move in Ready

Low time on Market for potential flippers

Beautiful fully finished basement

Financials:

ARV: $337,000

Purchase Price: $257,000

Estimated Profit Details (Flipper/MLS Sale):

$337,000 ARV

(*) 94% for sale commissions

(-) $257,000 purchase price

(-) $10,000 rehab/make ready budget

(-) $5,000 closing / holding cost

(=) $44,780 profit

Estimated Rental Profit Details:

$2,160 monthly current rent

(-) $369 monthly tax

(-) $80 monthly insurance

(-) $216 property management

(-) $216 recommended allocation for repairs, vacancy, etc

(=) $1,279 net monthly cash flow

Property Details:

3 Beds / 1.5 Baths

1958 Year Build

1,071 Home Square Feet

3,750 Square Feet Lot Size

AC 5 years old

Roof 11 years old

*Needs a new water heater*

Property was used primary as a Summer home for the seller