Chicago Daily Multifam - 11/21/2024
Jake Lyons
Chicago Real Estate Investment Advisor - "Daily Chicago Multifam" Writer - Host of “Living in Chicago” Podcast
Welcome to the Chicago Daily Multifam! In this edition we run a full estimated financial analysis on newly listed 3 and 4 unit properties in the City of Chicago!
(This is the analysis of properties listed ten business days ago. I do this analysis everyday and post it to this LinkedIn newsletter on Mondays and Thursdays. To access the truly "daily" version and to learn how to get this information in as little as 24 hours from the properties' list date, visit this page.)
The purpose is to capture what a property would rent for in it’s current state as accurately as possible. Potential renovations and updates are not taken into consideration for this analysis. In many cases, a little TLC would in fact change this analysis significantly.
The stats captured in the summary of each property are the address , price, Cap Rate (the rate of return after expenses, not factoring in borrowing costs), Gross Rent Multiplier/GRM (price of property divided by annual revenue), and Monthly Cashflow at 25% Down (currently calculated using 6.5% interest rate and 30 year amortization).
There is also a link to the calculator spreadsheet dedicated to?each property, as well as a link to the property page where you can get more information via Zenlist.
Please don’t hesitate to reach out with any questions about specific property analyses, methodologies, or other investment related questions.
Please refer to this disclaimer. Information shared here is for general, educational, and entertainment purposes only and not to be taken as individualized real estate investment advice. These are based on potentially incomplete information and ,while we do our best, there is no guarantee of accuracy. Do your own research and/or contact us for more individualized advice.
Listing data provided by MRED MLS and is deemed reliable but not guaranteed.
West Side
Address: 1232 S Sawyer Ave, Chicago, IL 60623
Neighborhood: North Lawndale
Price: $550,000.00
Cap Rate: 7.10%*
GRM: 9.3*
Monthly Cashflow at 25% Down: $ 647.98*
Analysis Link: https://docs.google.com/spreadsheets/d/1v-qso6BnzJIbWDsiBaSUzaMxpFIPXmV71TH-fe2dTC8/edit?usp=sharing?
?
Address: 1329 N Latrobe Ave, Chicago, IL 60651
Neighborhood: Austin
Price: $635,000.00
Cap Rate: 3.83%*
GRM: 12.6*
Monthly Cashflow at 25% Down: $ (983.43)*
Analysis Link: https://docs.google.com/spreadsheets/d/1Fffbjb9HeGk8gQwsl8TSR8Fhq4fiSPydIpbVhe58D5E/edit?usp=sharing?
North Side
Address: 3721 N Kenmore Ave, Chicago, IL 60613
Neighborhood: Lake View
Price: $949,000.00
Cap Rate: 4.49%
GRM: 13.7
Monthly Cashflow at 25% Down: $ (951.85)
Analysis Link: https://docs.google.com/spreadsheets/d/1HnhY_p9Hw8GCTMzUdDUVTrMQTBwCkN7PHqxSFzXWuOM/edit?usp=sharing?
?
Address: 3843 N Lakewood Ave, Chicago, IL 60613
Neighborhood: Lake View
Price: $1,175,000.00
Cap Rate: 5.80%
GRM: 10.9
Monthly Cashflow at 25% Down: $ 106.16?
Analysis Link: https://docs.google.com/spreadsheets/d/1-GnJbTFN8k-d0cA3B5d_tH_N9ToKnXfRoadguSi1s-U/edit?usp=sharing?
Northwest Side
Address: 4935 N Pulaski Rd, Chicago, IL 60630
Neighborhood: Albany Park
Price: $499,000.00
Cap Rate: 6.12%
GRM: 9.9
Monthly Cashflow at 25% Down: $ 179.18?
Analysis Link: https://docs.google.com/spreadsheets/d/1NEwkiu_gi3bF69tDzYpX_VFdoRekpmfQIqGzu_SViwE/edit?usp=sharing?
?
Address: 5251 W Wellington Ave, Chicago, IL 60641
Neighborhood: Belmont Cragin
Price: $525,000.00
Cap Rate: 3.70%
GRM: 14.2?
Monthly Cashflow at 25% Down: $ (871.77)?
Analysis Link: https://docs.google.com/spreadsheets/d/1llWkGK3vGYSMpwzcsqJ5s2z6LmI6FVuPNx9PyTyQpI8/edit?usp=sharing?
?
Address: 5511 W School St, Chicago, IL 60641
Neighborhood: Portage Park?
Price: $635,000.00
Cap Rate: 4.81%
GRM: 13.1
Monthly Cashflow at 25% Down: $ (467.10)
Analysis Link: https://docs.google.com/spreadsheets/d/1psUoebK06ZujYtCCz2Xy6iPca-HsRjo8aqYbrkrDPDE/edit?usp=sharing?
?
Address: 1926 N Hermitage Ave, Chicago, IL 60622
Neighborhood: Logan Square
Price: $998,500.00
Cap Rate: 4.80%
GRM: 12.4
Monthly Cashflow at 25% Down: $ (736.69)
Analysis Link: https://docs.google.com/spreadsheets/d/19iy2VLi_01TpFAqHJlYY3hmrQAwN0414iPlHuHdCsWk/edit?usp=sharing?
?
Address: 4335 N Sacramento Ave, Chicago, IL 60618
Neighborhood: Irving Park
Price: $1,050,000.00
Cap Rate: 5.27%
GRM: 12.0
Monthly Cashflow at 25% Down: $ (363.67)
Analysis Link: https://docs.google.com/spreadsheets/d/186C_g-YDsMJWM_xPdpC3eaoEtMZrKW3DR0FnlkL9-Yo/edit?usp=sharing?
* Means that analysis was performed using estimated rents rather than rates of current occupancy
-Jake Lyons