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Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $129 per day and long-term for an average of $1,691 per month, based on similar listings in the area. Estimated short-term cap rate of 3.6%. Estimated long-term cap rate of 0.1%. Elegantly Remodeled One-Bedroom Unit in a Stunning Art Deco Masterpiece Building. Discover this beautifully remodeled one-bedroom unit in one of Chicago's most exquisite Art Deco buildings, surrounded by a serene garden and courtyard featuring a picturesque fountain. This residence boasts a spacious kitchen, dining, and living area, along with a generously sized bedroom thoughtfully designed for optimal relaxation. Located in a vibrant neighborhood, this unit is just moments away from Mariano's, Foster Beach, and the Saddle & Horse Country Club. Commuting is effortless with the 146 bus stopping right in front of the building, the 147 Express Bus just a 5-minute walk away, and the train station within a 10-minute walk. Embrace a lifestyle of comfort and convenience in this exceptional home.
Airbnb Avg Daily | See Full Details |
Occupancy Rate | See Full Details |
Monthly HOA | $742 |
Rental Policy | daily |
Yearly Taxes | $2303 |
Bedrooms | 1 |
Bathrooms | 1 |
SQFT | 850 |
Furnished | N/A |
Year built | 1939 |
Listing Status | Off Market |
MLS | 12307431 |
Interest rate
Let’s analyze a 30-year fixed-rate mortgage for $139,900 at today’s interest rate of 0.07%.
The initial loan size, equal to your condo price: $139,900.
The monthly cost of borrowing, based on an annual rate of 0.07% (divided by 12).
Over 30 years, you’ll make 360 payments (30 years × 12 months).
Estimated monthly Homeowner Association fees: $742.
Yearly taxes of $2303, divided by 12 for a monthly estimate.
Combining principal, interest, payments, HOA fees, and taxes, your approximate yearly mortgage expenses are $20,136.
The capitalization (cap) rate measures a property’s rate of return based on its income. It’s calculated by dividing the Net Operating Income (NOI) by the Current Market Value, expressed as a percentage.
The income after operating expenses (e.g., management, maintenance, insurance), calculated as gross rental income minus these costs: $156.
The estimated property value based on recent sales of similar properties: $139,900.
For a property with an NOI of $156 per year and a market value of $139,900:
Formula: NOI / Current Market Value
$156 / $139,900 = 0.1%
The capitalization (cap) rate measures a property’s rate of return based on its income. For short-term rentals, it’s calculated by dividing the Net Operating Income (NOI) by the Current Market Value, expressed as a percentage.
The income after operating expenses (e.g., management, maintenance, insurance), calculated as gross rental income minus these costs: $5,040.
The estimated property value based on recent sales of similar properties: $139,900.
For a property with an NOI of $5,040 per year and a market value of $139,900:
Formula: NOI / Current Market Value
$5,040 / $139,900 = 3.6%
Interest rate
Cash on Cash Return is a key real estate metric that measures the annual cash income earned relative to the cash invested, expressed as a percentage. It’s calculated by dividing the Annual Pre-Tax Cash Flow by the Total Cash Invested.
The property’s yearly income after operating expenses, excluding financing costs.
Includes your down payment plus additional costs like closing fees.
For a property priced at $139,900 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $156:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$156 / ($139,900 × 0.2 + $139,900 × 0.03) = 0.5%
Cash on Cash Return measures the annual cash income earned from a property relative to the cash invested, expressed as a percentage. For short-term rentals, it’s calculated by dividing the Annual Pre-Tax Cash Flow by the Total Cash Invested.
The property’s yearly income after operating expenses, excluding financing costs.
Includes your down payment plus additional costs like closing fees.
For a property priced at $139,900 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $5,040:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$5,040 / ($139,900 × 0.2 + $139,900 × 0.03) = 15.7%
Here’s how we calculate your potential yearly revenue for short-term rentals:
We start with 365 days, the total number of days in a year.
The percentage of the year your property is rented out: Hidden%.
Calculated as 365 days × occupancy rate (Hidden%).
The amount charged per day: Hidden.
Rented days × daily rental rate.
Typically 3% of rental income, plus additional fees like HOA or property-specific costs.
Gross rental income minus fees: $25,182.
Using the rented days, daily rental rate, and applicable fees, your potential yearly revenue is approximately:
$25,182
Note: Some properties may have additional short-term rental fees (e.g., 15% at Club at Brickell, Edgewater, Miami), which are included in this calculation.
Monthly Rent Revenue
Yearly Rent Revenue
*Estimate based on similar properties in the area.
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