Property Description

Fantastic opportunity for investors and house hackers in Calumet City with cash flow from day one! This fully occupied brick two-unit property features two bedrooms and one full bathroom in each apartment, with approximately 1,601 total square feet. Both units have practical layouts, equipped kitchens, spacious bedrooms, generous closet space, and their own laundry rooms. Gas and electric are separately metered, and each unit has forced-air heating. Outside, the property offers a spacious backyard and a long driveway with off-street parking. The one-story layout and slab foundation also mean there is no basement or shared basement area to maintain. The front unit currently rents for $1,300 per month, while the rear unit rents for $1,285, generating $2,585 in monthly rent and $31,020 annually. Based on estimated operating expenses of 35%, the property produces an estimated NOI of $20,163 and a cap rate of approximately 9.6% at the asking price. Pro forma rents are estimated at $2,840 per month, offering the potential for an approximately 10.5% cap rate. A solid addition to any rental portfolio with established income and room for future rent growth. Sold as-is. Buyer to verify rents, leases, expenses, projections, square footage, and all other property information.

Property Features

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