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Key Details
Sold Price $142,500
Property Type Condo
Sub Type Condo,Low Rise (1-3 Stories)
Listing Status Sold
Purchase Type For Sale
Square Footage 1,000 sqft
Price per Sqft $142
Subdivision Belmont Heights
MLS Listing ID 11256061
Sold Date 12/10/21
Bedrooms 2
Full Baths 1
HOA Fees $266/mo
Year Built 1960
Annual Tax Amount $89
Tax Year 2020
Lot Dimensions COMMON
Property Description
Welcome home to a rarely available, top-floor unit in an excellent area! Walk into a very spacious living room area highlighted by large, south facing windows for that crisp, natural sunlight as well as a private balcony: all while overlooking a pretty courtyard! Relax on your balcony. Or barbeque on it. Furthermore, the living room area opens up to a large, galley kitchen with a comfortably sized eat-in area characterized by north facing windows for additional light exposure. This unit also features two very spacious bedrooms with ample closet space. There is a full bathroom nestled between both bedrooms, which adds to this intelligently designed floor plan. There is also a spotless laundry room facility on the first floor and there is hardly ever a waiting line to use the washer or dryer; all machines are coin-operated at just $0.75 per load. This unit also comes with one exterior unassigned parking space and there is ample parking on Oleander and/or Addison at no additional cost. Own for less than rent! You can also rent this unit without restriction. FINANCING: Put down a 5% (or $7,750) at a $155,000 purchase price for a payment of approximately $1,203 per month at a 3% interest rate given a 740+ FICO score; this mortgage payment of $1,203 per month is based on a realistic and worst-case scenario property tax bill of $2,875 per year with a homeowners exemption along with a $266 monthly HOA payment, a $35 per month insurance bill and a $42 per month mortgage insurance premium. Or, put down 20% (or $31,000) for an approximate $1,063 mortgage payment. Please consult your loan officer for confirmation. RENTALS: A 2-bedroom, 1-bathroom unit at 7817 Belmont (Unit 2) rented for $1,395 per month. Please ask your agent to pull MLS# 10688173. Additionally, a 2-bedroom, 1-bathroom unit at 7701 Belmont (Unit 1) rented for $1,395 per month. Please ask your agent to pull MLS# 10954931. In short, you can easily expect to rent this unit for $1,400 per month after its rehab and earn nearly $175 per month in free cash flow, which comes out to $2,100 per year in positive cash flow. Easy to show. Close to plentiful shopping and restaurants, Kennedy Expressway, O'Hare Airport and much more. Easy to show!
Location
State IL
County Cook
Rooms
Basement None
Interior
Interior Features Storage
Heating Natural Gas, Steam, Baseboard
Cooling Window/Wall Units - 2
Fireplace Y
Appliance Range, Refrigerator
Laundry Common Area
Exterior
Exterior Feature Balcony, Storms/Screens
Community Features Coin Laundry, Storage
Waterfront false
View Y/N true
Roof Type Rubber
Building
Lot Description Corner Lot
Foundation Concrete Perimeter
Sewer Public Sewer
Water Lake Michigan
New Construction false
Schools
School District 299, 299, 299
Others
Pets Allowed Cats OK, Dogs OK, Number Limit
HOA Fee Include Heat,Gas,Insurance,Exterior Maintenance,Lawn Care,Scavenger,Snow Removal
Ownership Condo
Special Listing Condition None
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Bought with Michael Zapart • Compass