Turnkey Two-Flat Residential
For Sale
$470,000
4904 W 31st Street, Cicero, IL 60804
Two renovated three-bedroom units with new systems and a detached two-car garage, set within a four-level interior.
Property Size3,600 SF
Price / SF$130.56
Days on Market186
Property Features for 4904 W 31st Street
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
Natural Gas
Forced Air
Asphalt
Building Details
Year Built
1908
Year Renovated
2025
Stories
4
Listing Agency:
Coldwell Banker Realty
Listed By:
Irma Mejia · License #475128899
(312) 671-1480
Source:
Kw
Added: Apr 24
Changed: Oct 26
Last Checked: Oct 24 at 9:05PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This turnkey two-flat has been meticulously transformed with a comprehensive 2025 gut rehab, creating approximately 3,600 square feet across four finished levels. The building offers two expansive three-bedroom residences, including an upper unit that duplexes into a light-filled attic retreat. Interiors feature new hardwood flooring, cathedral ceilings, and updated kitchens with new appliances.
The property includes brand-new electrical, plumbing, and high-efficiency HVAC with central air. A new flood control system and drain tile are included for the basement. Exterior updates feature fresh vinyl siding and energy-efficient windows, supporting a maintained, “like-new” presentation.
A detached two-car garage is included, and the building is described as being near local parks and community amenities.
The property includes brand-new electrical, plumbing, and high-efficiency HVAC with central air. A new flood control system and drain tile are included for the basement. Exterior updates feature fresh vinyl siding and energy-efficient windows, supporting a maintained, “like-new” presentation.
A detached two-car garage is included, and the building is described as being near local parks and community amenities.
Key Highlights
- 2025 gut rehab creating approximately 3,600 SF across four finished levels in a Cicero two‑flat
- Two expansive 3‑bedroom residences, including an upper unit with duplex layout into a light‑filled attic retreat
- New electrical, plumbing, and high‑efficiency HVAC with central air for maintenance‑free living
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,763
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,260
$835.3K
Cap Rate 7%
$596,614
$596.6K
Cap Rate 9%
$464,033
$464.0K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$81.6K $22.68/SF
− Vacancy
−$5.7K −$1.59/SF
EGI
$75.9K $21.09/SF
− OpEx
−$34.2K −$9.49/SF
NOI
$41.8K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,260
Cap Rate 7%
$596,614
Cap Rate 9%
$464,033
Alternative Uses
Best Use
Multifamily LT 5
$667.3K
$583.9K – $778.6K
NOI $46,713 @ 7.0% cap · market cap 9.94%
Second Best
Apartment 5plus
$596.6K
$522.0K – $696.1K
NOI $41,763 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,004 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
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Business Placement
Demographics for 60804, IL
85,673
Population
26,738
Households
3.2
Avg Household Size
32
Median Age
11%
College-Educated
68%
High-School Grad
7.1 sq mi
ZIP Area
12,067
Density / Sq Mi
$68,548
Median Household Income
$36,786
Median Earnings
$1,121
Median Rent
$236,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two renovated three-bedroom units with new systems and a detached two-car garage, set within a four-level interior.
Where is this duplex located?
The property is located at 4904 W 31st Street Cicero, IL.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: 2025 gut rehab creating approximately 3,600 SF across four finished levels in a Cicero two‑flat; Two expansive 3‑bedroom residences, including an upper unit with duplex layout into a light‑filled attic retreat; New electrical, plumbing, and high‑efficiency HVAC with central air for maintenance‑free living
