1640 S Pulaski Rd, Chicago, IL 60623

6 beds, 4 baths, 3,500 sqft
Off Market
Zestimate®: $118,435
Rent Zestimate®: $1,698/mo
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WOW 4 UNITS GREAT CONDITION 71 PERCENT CASH ON CASH RETURNThis is a 3 unit with 2 bedrooms each unit, and 1 store front, Completely remodeled 2 years ago. Repairs needed, concrete needs leveling in the backyard.2 units are currently occupied Separate utilities tenants pay gas and electric.Store Front is vacant. Was a barber shop/saloon. Also there used to be a basement unit that was flooded, it is now completely gutted. You can also make 4rth unit.Asking for 15,000 down payment. You will be taking over an existing loan on a Agreement for Sale or Land Contract.1,300 per month which includes taxes and insurance. You will not be taking over any other liens.Income Potential after Section 81st unit 9502nd unit 9503rd unit 950Complet Basement 800 per monthStore Front 1000Total Rental Income potential after Section 8 and basement unit is done. 4650 per month.The numbers:Purchase Price $15,000Closing Costs $2,000Fix up $20,000 (complete basement, Fix Roof, Repair drywall damage, Fix concrete backyard)Rental Income 4,650 per month= $55,800Minus Costs (taxes insurance, utilities, property management, Mortgage) 1,800 per month= $23400 per year. Vacancy and Repairs (15 percent of Rent) = $8,370 per year.Net Operating Income 24,000 per yearCash on cash Return 71 percent WOWRepairs:Compelte Basment (electric, plumbing, Drywall, Kitchen, Bathroom, Flooring) $15,000Roof Repairs $1,500Repair water damage drywall $500Concrete level back yard. $3,000Total Cost of Repairs: $20,000Comparables:4024 W 25th Place Chicago IL sold 8/2013 $150,0003758 W Cermak Chicago IL sold 12/2013 $135,000.1839 S Harding Chicago IL sold 12/2013 $125,000Estimated after repair value $136,500Earnest 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!For more great wholesale properties go to Check out inventory and join our buyers list. The best deals never hit our site.  MoreLess
 
Facts
  • Condo
  • Built in 1905
  • Cooling: Central
  • Heating: Forced air
  • Laundry: In Unit
Features
  • Fenced Yard
  • Storage
Additional Features
  • Cooling System: Central, Living room, Parking Type: On Street, Stainless steel appliances
Appliances Included
  • Dryer
  • Freezer
  • Range / Oven
  • Refrigerator
  • Washer
Room Types
  • Breakfast nook
  • Dining room
  • Family room
  • Mud room
  • Office
  • Pantry
Construction
  • # Stories: 2.0
  • Unit count: 4
Other
  • Floor size: 3,500 sqft
  • Zillow Home ID: 2110932436
Home Values
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$118,435
+$1,270 Last 30 daysd
$101K
$124K
Zestimate range
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A Rent Zestimate is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. Learn more

The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table
$1,698/mo
+$13 Last 30 daysd
$1.2K
$3.1K
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Neighborhood for 1640 S Pulaski Road

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Zillow predicts Archer Heights home values will rise 3% next year, compared to a 2.6% rise for Chicago as a whole. Among Archer Heights homes, this home is valued 19.1% less than the midpoint (median) home, and is valued 75% less per square foot.

Foreclosures will be a factor impacting home values in the next several years. In Archer Heights, the number of foreclosures waiting to be sold is 42.2% greater than in Chicago, and 1072.7% higher than the national average. This higher local number may prevent Archer Heights home values from rising as quickly as other regions in Chicago.

Learn more about forecast calculations or Archer Heights home values.
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