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39
Rent climbs to $4,529; $565K sell
Updated yesterday • 49 new comps
Your Investment Paths
Turnkey Rental
This property shows strong rental potential, with estimated monthly income ranging from $3,666 to $4,529. These figures, supported by recent market trends, suggest a competitive yield of approximately 7.87%, making it a compelling candidate for investors. Focusing on these market-driven rent projections provides a more accurate picture than static property valuations. With a solid yield and consistent demand in the area, this condo stands out as a reliable choice for steady income.
More about this home
Neighborhood Assessment
Near West Side is about as walkable and lively as you can get in Chicago, with bars, coffee shops, new restaurants, and transit just steps away. Whole Foods, Mary Bartelme Park, and art galleries are all around, and you’ve got instant access to Restaurant Row and Fulton Market. The neighborhood's school ratings are a bit mixed—Skinner Elementary is top-notch, but the assigned high school has a lower rating, so it may affect some buyers or renters. But folks love the city vibe, and demand for condos stays strong even when the market gets choppy. Looking at similar condos recently selling between $480K–$700K in this building, 2-bed/2-bath units have strong appeal. The $625K ask, at about $430/sqft, is on the higher side but matches the building’s newer, upgraded inventory. HOA fees are steep at $900/mo, but the amenities, garage parking, and views help offset it for lifestyle buyers. For investors, rent demand stays high here, though a recent flip may have more limited upside unless you snag a deal or add custom value.
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Rental Income
$49K
Yield
7.9%
Year 1 Estimates
Fix-and-Flip
Modernizing your condo creates a vibrant, fresh living experience. While price per square foot sits at roughly 414 dollars compared to 422 dollars for typical homes, these improvements offer tangible lifestyle perks that attract quality tenants. Refreshing your space enhances market appeal and supports steady rent potential, often reaching 3,800 to 4,300 dollars. Focus on quality finishes to ensure your home stands out, unlocking comfortable living and long-term enjoyment for any future occupant.
Comps
41
Buy-Rehab-Rent
The target condo shows solid investment potential with a post-renovation value estimated between $560,000 and $619,000. Renting this unit offers a robust monthly income of $3,820, providing a reliable foundation for long-term portfolio growth. With a 7.78% yield, this property demonstrates attractive cash flow performance. While renovation costs must be managed carefully, the rental demand and property value metrics suggest a stable opportunity for investors pursuing the BRRRR strategy.
Rental Income
$46K
Yield
7.8%
Year 1 Estimates, Post Typical Renovation
Market Activity
Estimated value
$625K
$162.5K over comp median
Comparative Market Analysis
$386K – $831K
~25 days to sell
Based on 8 comps
901 W Madison St UNIT 519, Chicago Investment Report: Flip & Rental Analysis · Frontflip