Updated Duplex Residential Income
For Sale
$300,000
3923 W Ainslie Street Unit 1E, Chicago, IL 60625
Three-bedroom residence with two full levels, remodeled bathrooms, and private decks for outdoor use.
Property Size1,400 SF
Price / SF$214.29
Days on Market9
Property Features for 3923 W Ainslie Street Unit 1E
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Condo,Condo-Duplex,Low Rise (1-3 Stories),Vintage
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,333
Amenities
hardwood floors
granite countertops
stainless steel appliances
central air
in-unit washer/dryer
private decks
Building Details
Building Size
1,400 SF
Year Built
1923
Listing Agency:
@properties Christie's International Real Estate
Listed By:
Vashti Araia · License #475182577
Source:
Dawnmckennagroup
Added: Aug 15
Changed: Aug 23
Last Checked: Aug 22 at 12:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of @properties Christie's International Real Estate
Investment Insights
Based on property information with market context.
This residential income property is configured as a three-bedroom duplex with approximately 1,400 square feet across two full levels. The interior combines hardwood flooring, 9-foot ceilings, oversized windows, and an open kitchen with granite counters, contemporary cabinetry, and stainless steel appliances. Both bathrooms have been remodeled, and the property includes central air, a newer furnace, a smart thermostat, in-unit laundry, updated lighting switches, and ceiling fans. Two private decks extend the usable space, while generous bedrooms and closet storage support a practical residential layout.
Built in 1923, the property is located at 3923 W Ainslie Street in Chicago’s Albany Park. Groceries, restaurants, shopping, and public transportation are nearby. CTA bus routes 53 and 81 serve nearby intersections, and the CTA Brown Line is accessible at Lawrence/Kimball. Easy street parking is also available.
Built in 1923, the property is located at 3923 W Ainslie Street in Chicago’s Albany Park. Groceries, restaurants, shopping, and public transportation are nearby. CTA bus routes 53 and 81 serve nearby intersections, and the CTA Brown Line is accessible at Lawrence/Kimball. Easy street parking is also available.
Key Highlights
- Three‑bedroom duplex with approximately 1,400 square feet across two full levels
- Two remodeled bathrooms and an open kitchen with granite counters and stainless steel appliances
- Two private decks, hardwood floors, 9‑foot ceilings, and oversized windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,461
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$429,220
$429.2K
Cap Rate 7%
$306,586
$306.6K
Cap Rate 9%
$238,456
$238.5K
Market Conditions
NOI Build-Up for 1,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.2K $29.40/SF
− Vacancy
−$2.1K −$1.53/SF
EGI
$39.0K $27.87/SF
− OpEx
−$17.6K −$12.54/SF
NOI
$21.5K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$429,220
Cap Rate 7%
$306,586
Cap Rate 9%
$238,456
Alternative Uses
Best Use
Apartment 5plus
$306.6K
$268.3K – $357.7K
NOI $21,461 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$660.1K
$577.6K – $770.1K
NOI $46,207 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,466
Businesses Nearby
Explore this area
Business Placement
Demographics for 60625, IL
76,525
Population
33,932
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
87%
High-School Grad
3.8 sq mi
ZIP Area
20,138
Density / Sq Mi
$85,299
Median Household Income
$48,314
Median Earnings
$1,455
Median Rent
$396,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom residence with two full levels, remodeled bathrooms, and private decks for outdoor use.
Where is this residential income property located?
The property is located at 3923 W Ainslie Street Unit 1E Chicago, IL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Three‑bedroom duplex with approximately 1,400 square feet across two full levels; Two remodeled bathrooms and an open kitchen with granite counters and stainless steel appliances; Two private decks, hardwood floors, 9‑foot ceilings, and oversized windows
