|20% down payment||30% down payment||40% down payment|
|P/I, taxes, insurance, assessments total||$1,122||$1,039||$956|
|Net tax benefit||$374||$356||$337|
Monthly cash flow
*Numbers based on 30-year fixed rate at 5.25%
Using this Chicago condo as a rental property won’t be difficult for an investor. And the return on investment certainly beats the return you would get leaving your money in the bank. The Gold Coast is a highly desired neighborhood, and this unit in particular is one block from the train, groceries, nightlife, and very close to Michigan Avenue. The neighborhood is one of the city’s most walk-able, and the building itself is wonderfully maintained with a pool, exercise area, party room and doorman.
With floor-to-ceiling windows on the 10th floor, the unit is perfect for taking in the Chicago scenery year round and bringing plenty of natural light into the unit. It also has brand new paint and carpet. Many of these are features a renter wouldn’t find for an affordable monthly price among Chicago condos, so an investor would have no trouble getting a tenant into the unit to generate that extra cash flow.
This Gold Coast studio is a rare opportunity for a Chicago real estate investor. To learn more about this Gold Coast studio for sale and making an investment property purchase, contact Sheldon Salnick at (312) 498-5080 or by email at email@example.com.