42%+ ROI Fix and Flip

[Fernando Angelucci]

This cozy brick single family home is in need of some cosmetic work and to finish the addition in back (i.e. drywall and paint). Could use a new kitchen and paint throughout. Layout could be adjusted for additional bedrooms. No basement. Could have the covered driveway converted into a garage if desired. It has hardwood floors, sunny living room, a skylight in the family room, and a large fenced backyard. It is being sold as result of a divorce. In a very nice suburban like area of Burnside. Currently vacant.

Fix and Flip

• Purchase Price: $40,000
• Rehab and Closing Costs: $16,000
• Total Cash Cost: $56,000
• ARV: $80,000+
• CROI: 42.86%+

Fix and Hold

• Monthly Rent: $850
• Taxes: 211.69
• Insurance: $75
• Utilities: Pass on to Tenant
• Property Management: $85
• Maintenance Reserve: $68
• Net Monthly Cash Flow: $410.31

Comparables Sold Within the Last 12 Months

• 450 E. 91st Pl., Chicago, IL sold for $105,900.00 on 02/05/16
• 9414 S. Eberhart Ave., Chicago, IL sold for $63,900.00 on 05/02/16 
• 9330 S. Rhodes Ave., Chicago, IL sold for $55,000.00 on 06/28/16