Brick 2-Flat Income
For Sale
$275,000
Pending
4307 South Sawyer Avenue, Chicago, IL 60632
Brick duplex with hardwood floors, enclosed back porch, unfinished attic, basement, and a two-car garage on site.
Property Size1,936 SF
Days on Market92
Property Features for 4307 South Sawyer Avenue
General Information
Standard status
Pending
Size
1,936 SF
Total Parking Spaces
2
Property subtype
Two to Four Units / 2 Flat
Zoning
MULTI
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,949
Building Details
Year Built
1925
Listing Agency:
Spartan Residential
Listed By:
Eric Strung · License #471000592
(773) 218-0876
Source:
Compass
Added: Jun 8
Changed: Aug 8
Last Checked: Jul 24 at 3:21PM
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 Spartan Residential
Investment Insights
Based on property information with market context.
This brick 2-flat duplex is positioned as a renovation-ready residential income property. The building includes hardwood floors in both apartments, enclosed back porches, and both an unfinished attic and an unfinished basement. A two-car garage and a yard are also part of the offering. The seller indicates the basics are in place, while the interior will need updating.
The property is located near Kedzie and Archer, with an Orange Line stop described as close by.
The sale is being offered as-is, and the property is corporate owned. The seller is considering cash offers and offers that do not include financing contingencies only.
The property is located near Kedzie and Archer, with an Orange Line stop described as close by.
The sale is being offered as-is, and the property is corporate owned. The seller is considering cash offers and offers that do not include financing contingencies only.
Key Highlights
- Brick 2‑flat built in 1925 with original hardwood floors in both apartments
- Enclosed back porch plus unfinished attic and basement, offering additional storage/expansion potential
- On‑site 2‑car garage and a nice yard
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
$25,277
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
9.19%
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%
$505,540
$505.5K
Cap Rate 7%
$361,100
$361.1K
Cap Rate 9%
$280,856
$280.9K
Market Conditions
NOI Build-Up for 1,936 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
$48.8K $25.20/SF
− Vacancy
−$2.8K −$1.46/SF
EGI
$46.0K $23.74/SF
− OpEx
−$20.7K −$10.68/SF
NOI
$25.3K $13.06/SF
Area
ZIP 60632
Vacancy
5.80%
Lease Rate
$25.20 /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%
$505,540
Cap Rate 7%
$361,100
Cap Rate 9%
$280,856
Alternative Uses
Best Use
Multifamily LT 5
$401.9K
$351.6K – $468.8K
NOI $28,130 @ 7.0% cap · market cap 10.23%
Second Best
Apartment 5plus
$361.1K
$316.0K – $421.3K
NOI $25,277 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$852.0K
$745.5K – $994.0K
NOI $59,637 @ 7.0% cap · market cap 21.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,543
Businesses Nearby
Explore this area
Business Placement
Demographics for 60632, IL
92,237
Population
28,860
Households
3.2
Avg Household Size
33
Median Age
13%
College-Educated
69%
High-School Grad
7.4 sq mi
ZIP Area
12,464
Density / Sq Mi
$60,576
Median Household Income
$35,203
Median Earnings
$1,057
Median Rent
$240,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex with hardwood floors, enclosed back porch, unfinished attic, basement, and a two-car garage on site.
Where is this duplex located?
The property is located at 4307 South Sawyer Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Brick 2‑flat built in 1925 with original hardwood floors in both apartments; Enclosed back porch plus unfinished attic and basement, offering additional storage/expansion potential; On‑site 2‑car garage and a nice yard
