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Updated about 3 years ago,
HELP! ROI seems too good to be true, am I missing anything?
Dear all,
I'm looking to invest in at least 1 property in North Chicago (around Rogers Park and Evanston) area in 2021 so I'm screening deals on MLS. Now I'm find a property whose potential ROI seems unbelievably high (property tax and HOA fee seems suspiciously low) and I wonder if I miss any factor to consider. Here are the info on MLS:
Address and type: 7656 N Bosworth Ave. Townhouse, 3b1b
Age and size: 60+ years, 1400 sqft
Listing Price: $187,000
Estimate monthly rent: $2150
Property Tax: $801, HOA fee: 0
Estimate insurance cost: $900/month
Repair, Vacancy, CapEx (5% rent)
Estimate CoCROI = 26%
Do I miss anything here? How can I confirm the tax and HOA fee number?
Thanks!