Rare investment opportunity in Evanston's highly sought-after rental market, offering an estimated 7.00 cap rate and a 7.41 cash-on-cash return. This well-maintained two-unit property provides stable in-place income with significant upside potential through future rent increases and flexible rental strategies in one of Evanston's strongest rental markets. The property features two spacious units with distinct floor plans that appeal to a wide range of tenants. The first-floor unit is ideal for families, Northwestern University students, and young professionals. The second-floor unit includes a finished third-floor attic with three additional bedrooms and one full bathroom, creating multiple value-add opportunities and increased rental income potential. Ideally located within a five-minute walk of Ingraham Park and Foster Park, the property is surrounded by restaurants, cafes, Walgreens, and boutique shopping. Northwestern University is just a five-minute drive away, providing a strong and consistent tenant pool. Whether you're looking to expand your investment portfolio or owner-occupy one unit while generating rental income from the other, 2108 Wesley Avenue offers an exceptional combination of immediate cash flow, long-term appreciation potential, and operational flexibility.
— the listing agent’s description
The home
9 beds
3 baths
Built in 1899
Lot 58 X 81 X 52 X 112
2-car garage
Two to Four Units
Victorian
What it’ll cost
$12,615 taxes / yr
No HOA
7 days on dwello
Estimated monthly payment
$6,705/mo
Principal & interest$5,360
Property taxes$1,051
Homeowners insurance$294
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Assessed value from the Cook County Assessor (open records). Estimated market ≈ assessed × 10 for residential; not an appraisal — verify with the assessor.