📍6837 S Perry Ave, Chicago, IL 60621
Don’t miss this large, fully framed 2-flat in Englewood offering serious upside as your next flip, or buy-and-hold. The exterior renovation is complete, while the interior is down to the studs, ready for your finishes and layout choices to maximize value.
Property Highlights
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Unit 1: Spacious 4 bed / 2 bath duplex with basement
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Unit 2: Large 4 bed / 1 bath
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Basement: Opportunity to add a garden unit for additional income
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Permits already pulled — jump straight into construction
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Expansive backyard ideal for a garage or parking pad
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Strong footprint with excellent square footage
Perfect for your next flip or long-term rental portfolio addition.
With the right finishes, the property can resell in the low $400Ks once completed, making this a compelling value-add play.
Bring your contractor and vision — the hard part is already started.
📈 Investment Breakdown:
- 🔑 Sale Price: $215,000
- 🛠️ Estimated Rehab Costs: $105k
- 💎 After Repair Value (ARV): $419,000
- 🏠 Taxes:$949
- 💰 Rents: $4,100
🏠 Comparable Sales (Comps):
• 💰 $397,000 (6br) – 6728 S Normal Blvd, Chicago, IL 60636
• 💰 $415,000 (7br) (active) – 7346 S Peoria St, Chicago, IL 60621
💰 Estimated Rehab to Completion – Interior Build-Out
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Electrical (new panels, wiring, fixtures): $12K
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Plumbing (kitchens + baths): $14K
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HVAC (2 systems or boiler setup): $15K
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Drywall, tape, paint: $14K
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Kitchens (2 basic shaker + laminate/quartz mix): $16K
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Bathrooms (3 basic finishes): $14K
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Flooring (LVP + carpet in beds): $12K
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Doors, trim, fixtures, misc: $8K
Subtotal Interior ➡️ $105K
📊 Pro Forma Rental & Value Summary 💰 Projected Market Rents (Post-Rehab)
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Unit 1 – 4 Bed / 2 Bath: $2,100 / month
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Unit 2 – 4 Bed / 1 Bath: $2,000 / month
Estimated Total Monthly Rent:
➡️ $4,100 / month
Estimated Gross Annual Income:
➡️ $49,200 / year