How Much for A Turnkey?

[Shara Carlton]

Simple question: How much would a typical investor be willing to pay for a Turnkey property in a good neighborhood on the South- east side of Chicago?

[Josh Sexton]

You really need to look at comparable properties in that area.  The problem with valuing homes on the South Side is that are are pockets of really nice homes and pockets of really bad homes.  Also, you mentioned that this is a turnkey property which I assume means that everything is finished and rent ready.  This will obviously affect the price, as nice homes go for more than beat up homes.  

Do you have access to the MLS so you can look at comps? I don't know if it's helpful but I have a ton of properties up on my page that you may be able to use as a guideline for pricing. We run comparative market analyses on all our units so they come in at market value. If any of these properties are near where the one you're looking at is, the value should be pretty similar.

For what it's worth, a good quality, finished property on the South Side will generally be valued over $100k (depending on size and bed/bath count).