6148 Bishop Street, West Englewood, Chicago, Illinois 60636
$130,000
|
Sold
|
|
| Status: | Closed |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 4 |
| Baths: | 0 |
| Year Built: | 1930 |
| Property Taxes: | $1,549 |
| Days On Market: | 1904 |
| Lot Size: | 0,04 |
Description
Welcome home to an all brick, 2-unit building in very good condition! This property makes tremendous sense as an owner-occupied purchase or as an investment purchase. As an owner-occupied purchase, you can live in one unit and rent out the other unit for at least $1,000 per month; you would then own the entire building and basically live for free! Furthermore, as an owner-occupied purchase, you can utilize FHA financing with a 3.5% down payment and the Seller of this property will even assist with closing cost credits! For instance, your FHA payment will be about $801 per month with a 3.5% down payment at a 3% interest rate for a 30-year mortgage along with a $1,548 per year property tax bill and a $75 per month homeowner's insurance bill and a mortgage insurance premium of $88 per month. In short, your FHA mortgage payment will be about $801 per month but you should be receiving rental income of about $1,000 per month, which results in about $200 in monthly free cash flow or $2,400 in annual free cash flow. Please consult your loan officer for confirmation. Or, conversely, you can purchase this 2-unit as an investment and you can still make money every single month! Both units feature two (2) bedrooms and one (1) bathroom along with a very spacious living room/dining room area, hardwood flooring throughout, carpeting in the bedrooms and many windows for that natural, crisp sunlight. There is no garage but there is ample street parking. This is a great investment! Right now, the property taxes are $1,548 per year and there is no homeowner's exemption. The property taxes will be reduced to about $859 per year if your client plans on living in one unit and successfully applies for a homeowner's exemption, which is very easy to do. A must see. This is an as-is, where-is sale. NOTE: WE ARE IN A MULTIPLE OFFER SITUATION. ALL BEST OFFERS ARE DUE BY 10 AM ON 08/26/2020.
Property Specifics
| Multi-unit | |
| — | |
| — | |
| 1930 | |
| Full | |
| — | |
| No | |
| 0.04 |
| Cook | |
| — | |
| — / — | |
| — | |
| Lake Michigan | |
| Public Sewer | |
| 10828364 | |
| 20173180420000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 24 Jun, 2011 | Sold | $15,000 | MRED MLS |
| 31 May, 2011 | Under contract | $9,900 | MRED MLS |
| — | Last price change | $10,900 | MRED MLS |
| 1 Dec, 2010 | Listed for sale | $10,900 | MRED MLS |
| 30 Oct, 2020 | Sold | $130,000 | MRED MLS |
| 25 Sep, 2020 | Under contract | $125,000 | MRED MLS |
| 24 Aug, 2020 | Listed for sale | $125,000 | MRED MLS |
Room Specifics
Total Bedrooms: 4
Bedrooms Above Ground: 4
Bedrooms Below Ground: 0
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Full Bathrooms: 2
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: Unfinished
Other Specifics
| — | |
| Concrete Perimeter | |
| — | |
| — | |
| Corner Lot | |
| 36.50 X 48.00 | |
| — | |
| — | |
| — | |
| — | |
| Not in DB | |
| Park, Curbs, Sidewalks, Street Lights, Street Paved | |
| — | |
| — | |
| — |
Tax History
| Year | Property Taxes |
|---|---|
| 2011 | $2,695 |
| 2020 | $1,549 |
Contact Agent
Nearby Similar Homes
Nearby Sold Comparables
Contact Agent
Listing Provided By
Keller Williams Chicago-O'Hare
