PROPERTY INFO Property Address 3319 North Drake Avenue, Chicago, Illinois 60618 MLS# Property Listing Price $ 380,000.00 Number of Units (Duplex, Triplex, 4plex) 2 Square Footage 3,125 Rehab Needed?

Bought it undermarket, renovated the whole thing, and IMPORTANTLY added square footage.

You can analyze by square footage.  

The total square footage of the main house is 1700 sq. ft. 

I glazed passed that because the square footage price I received compared to the comps in the area was a good deal.  

They take into account factors such as type of construction (wood, brick, metal, etc), square footage, number of stories, number of bathrooms & kitchens, level of finish (basic, custom, etc.) .... 

Hi,Last year I bought a house without appraisal. It was listed as a 3/2 SFH and 1120 sqft. Now when it tried to refinance the house their appraisal came at 760 sqft only. At the time I made a mistake to not check the ...

the best way to make money in this situation is if the previous owner had not maximized the square footage and you were able to get an extra bed in there.good luck!  

Hey @Daniel Pitcher,My formula is roughly as follows:cash flow = rent - (mortgage + taxes + insurance + HOA + vacancy (1/12 rent) + PM (10% rent) + repairs (5% rent) + capex (5% rent))I estimate rent based on square footage.  

I just had one come back yesterday that only gave $4k additional value to adding a 2nd bathroom to the existing square footage.