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    Two-Flat Investment Duplex Title is generated by Realmo AI

    4932 S WINCHESTER Avenue, Chicago, IL 60609

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    Pending
    $149,000

    MULTI_FAMILY - Chicago, IL

    Added:
    Jan 2, 2026
    Days on Market:
    152
    Last Refresh:
    Jun 3 at 5:06 am

    Property Features for 4932 S WINCHESTER Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MULTI
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 6, Kitchen, Bathroom 1, Basement
    Parking
    2
    Basement
    Full, Finished, Daylight
    Standard status
    Pending
    APN
    20072160220000

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    2967

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas

    Building Details

    Year built
    1898
    Building materials
    Aluminum Siding

    We can help!

    Listing Contact
    Maria Castillo
    Maria Castillo

    Listing agent Maria Castillo License #475122116

    Listing office RE/MAX Mi Casa 3958 W 55th St, Chicago, IL

    Listing date Jan 2, 2026

    MLS# 12539171 Listing URL

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2‑flat with two units, each offering 2 bedrooms, plus a basement for additional living space and flexibility
    • Separate utilities: three electric and three gas meters serving the property
    • Thermal‑pane windows throughout
    • Newer roof, approximately 1 year old
    • Heating: natural gas; sewer: public sewer
    • Built in 1898 with aluminum siding

    Overview

    This two-flat duplex includes two separate units, each with two bedrooms. In addition to the main living areas, the property features a basement that can provide extra space and flexibility for residential use. The home is equipped with separate utilities, including three electric meters and three gas meters, which can support independent tenant billing. Updates and improvements include a newer roof installed approximately one year ago and thermal-pane windows throughout. The property is offered for sale strictly as-is, giving investors an opportunity to refresh the remaining areas and position the asset for long-term income.

    Located in Chicago with a MULTI zoning designation, the property is positioned as a residential income asset under a multi-family use category. The listing information indicates this is a straightforward investment purchase for qualified buyers, with the seller requiring cash offers only.

    For investors or owner-operators seeking a manageable renovation opportunity, the two-unit layout supports income potential while keeping unit configuration simple and easy to market. The presence of separate electric and gas meters can help streamline operations. With some updates, this property offers a practical path to improving performance and adding to an investment portfolio.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.673711
    Latitude
    41.803908

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    FAQs

    What type of property is this?
    Duplex - Well-suited for cash investors, this two-unit duplex offers in-place separate utilities and room to add value.
    Where is this duplex located?
    The property is located at 4932 S WINCHESTER Avenue Chicago, IL.
    What is the asking price?
    The asking price for this property is $149,000.
    What are key features of this property?
    This property features: 2‑flat with two units, each offering 2 bedrooms, plus a basement for additional living space and flexibility; Separate utilities: three electric and three gas meters serving the property; Thermal‑pane windows throughout
    (773) 767-1616
    We can help!
    Listing Contact
    Maria Castillo
    Maria Castillo
    Real Estate License ID: 475122116
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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