3 unit – Owner Occupied
Chicago North
Book Example (Updated – Feb 2022)
Classic Chicago Brick 3 unit – 3 Story + Basement stands the test of time and is perfect for owner occupied property.
You’ll note that we are assuming 20% of total costs as initial equity for an owner occupied property. You can also use projected rental income to help qualify for the loan.
Some lenders offer construction loan programs for owner occupied properties that convert to an end loan upon completion.
Look at the Equity and Cash Flow column in the projections to see how quickly you build equity in the first few years of ownership!
Status: Owner Occupied Rental Example
Property Type: 3 Flat
Sub-Type: Residential Income
Building Size: 5,000 SF
Actual Cap Rate: 5.01%
FINANCIAL SUMMARY – PRO FORMA 2022-23
