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28
Sell Potential Jumps to $592K
Updated 14 days ago • 4 new comps
Your Investment Paths
Turnkey Rental
The rental market surrounding 4065 W Waveland Avenue shows solid promise for investors. You can expect a monthly rental income between $2,731 and $3,248, placing the median market potential for this property right around $3,017. With an estimated annual yield of 4.35% and a projected market appreciation of $48,310, this property presents a stable long-term opportunity. These figures reflect a competitive neighborhood where well-maintained family homes remain in high demand.
More about this home
Neighborhood Assessment
Irving Park in Chicago's 60641 zip is a solid neighborhood with good walkability and commuter access via nearby buses and trains. You've got Scammon Elementary (rating 3/10) 0.5 miles away and Schurz High (1/10) just 0.3 miles off, which keeps families cautious but doesn't kill demand. Nearby condos sell in the $200K-$280K range, way below this single-family home's $824K Zestimate—shows strong premium for detached homes here. Lot's a nice 4,325 sqft too. Well, it's stable, not exploding, but steady appreciation from $500K sales in 2020 to $720K in 2022.
Market Activity
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Rental Income
$36K
Yield
4.4%
Appreciation
$48K
Year 1 Estimates
Fix-and-Flip
Updated homes offer a premium feel, boasting $314 per square foot compared to the $303 baseline. This modest 3.6% boost in efficiency shows that modern touches help your property shine, securing higher potential sale values. Investing in these finishes creates a welcoming atmosphere that resonates with buyers. While rental returns remain steady, the value-add potential creates an inviting, turn-key lifestyle. This upgrade is a smart way to enhance long-term property appeal.
Value Add
$17K
Appreciation
$28K
Post Typical Renovation
Buy-Rehab-Rent
This property offers a solid BRR opportunity with a projected post-renovation value between $455,000 and $503,000. With a median price per square foot of $300, investors should target efficiency to maximize the equity spread after upgrades. Rental demand is promising, with potential monthly income hitting $3,030. A 7.6% yield provides steady cash flow, while the neighborhood’s 5.86% annual appreciation rate bolsters long-term growth. This asset is well-positioned for a successful hold strategy.
Rental Income
$36K
Yield
7.6%
Appreciation
$28K
Year 1 Estimates, Post Typical Renovation
Estimated value
$824K
$286.8K over comp median
Comparative Market Analysis
$295K – $681K
~64 days to sell
Based on 8 comps
4065 W Waveland Ave, Chicago Investment Report: Flip & Rental Analysis · Frontflip