Price Reduction: Chicago, IL | $70,000 Net Equity

https://www.biggerpockets.com/real-estate-listings/chicago-i... 

Investment Opportunity + Leaseback:
Asking Price: $140,000
Net Equity: $50,000
Market Value ($210,000) - Asking Price ($140,000) = Net Equity ($70,000)
Total Prepays at Closing: $1,600
Monthly Rent per Unit:
Unit 1 $850 / Month
Unit 2 $750 / Month
Total rental monthly income: $1,600

3 BD / 2 BA
Sq. Ft: 1164
Lot size (Acres): 0.07
Year Built: 1890
Seller wants to stay as a tenant

Pre-approved Financing:
80% LTV DSCR Loan
Cash to Close (Estimated) = $46K - $50K

Why buy this property?
Shopping and dining 1.8 Mi
Schools 2.25 Mi
Chicago State University 4 Mi
Hospital .9 Mi
Chicago Midway International Airport 5.53 Mi
I-94 Express 1 Mi
Low Crime Rate
Investment Potential
Proximity to Work
Good Schools
Community Amenities

Important Purchase Terms:
The information provided about properties is sourced from public records including property card and property tax records. We make no representations of any kind. Buyers are strongly advised to conduct their own due diligence before making an offer. A non-refundable earnest money deposit of $2,500 of the Asking Price and a signed purchase agreement are required to proceed with an offer. Our standard policy is an 'as is' sale with no contingencies or inspections, unless otherwise specified. Close as soon as the title is ready (approx 7 days). It is our company policy that the buyer pays for all closing costs including the title insurance fee.

DISCLAIMER:
DO NOT CONTACT THE OWNER/SELLER WITHOUT OUR EXPLICIT CONSENT. ANY ATTEMPTS TO RENEGOTIATE OR CONTACT THE SELLER WILL RESULT IN LEGAL ACTION