Chicago 60628 Turnkey Property

[Varun Patel]

I have made an offer through Roofstock for one of the rental properties. My offer is 100k and estimated monthly rent is $1400 (putting 20% down for downpayment). I am curious about the conflicting research on the neighborhood and appreciation of the property. I am also not sure it will be a good investment for me since it is my first rental property investment.

Numbers based on the biggerpockets rental property calculator: (assuming vacancy rate 5%, Cap ex 10%, property management 8%)

Returns

NOI$7,884 CoC RoI14.70% Pro Forma Cap7.88% Purchase Cap7.88%

50% Rule

Total Monthly Income$1,40050% for Expenses$700Monthly P&I$39350% Rule Cash Flow$306

zip code: 60628

Home built year: 1926

It shows on trulia that is was last purchased for $64,500 and it was listed on roofstock for $105,000. Estimated cost on Trulia shows $96,163 and Redfin shows $128,113. 

I will be glad with any suggestion I can get if it is a good investment or how has been the rental property experience in this area. Any advice on appreciation on the property will be appreciated.

Thank you.