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3920 N Paulina St
Score
0
Chicago, IL

3920 N Paulina St

2.1M
6 bd • 6 ba • 4,080 sf

This analysis was generated on 1/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$2,150,000

Price/Sq.Ft

$527

Year Built

2024

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This new construction luxury home in Lake View offers exceptional value and features. At $526.96/sqft, it's competitively priced compared to the Chicago average of $541/sqft for new construction. The 4,080 sqft layout is 36% larger than the area average of 3,000 sqft for single-family homes. Located in the highly-rated Blaine School District (9/10), it's just 0.4 miles from Blaine Elementary School, adding significant value for families. The property boasts high-end finishes like Taj Mahal quartzite counters, custom cabinetry, and a butler's pantry, estimated to add $50,000-$75,000 in value. Climate risk scores are exceptionally low, with flood (1/10) and fire (1/10) risks being minimal, potentially saving 15-20% on insurance premiums compared to higher-risk properties.

The Bad

The property won't be completed until February 2025, requiring buyers to wait over a year for move-in. This delay could expose buyers to potential market fluctuations. The listing price of $2,150,000 represents a significant 220.9% increase from its last sale price of $670,000 in February 2024, which may raise questions about rapid appreciation. The local high school, Lake View High School, has a low rating of 3/10, which could be a concern for families with older children. The estimated annual insurance cost of $7,740 is higher than the Chicago average of $5,000-$6,000 for similar properties.

The Ugly

The rapid price increase from $670,000 to $2,150,000 in less than a year could indicate potential overvaluation or speculative pricing. This dramatic jump may lead to difficulties in future appreciation or resale. The property's location in Chicago exposes it to high property taxes, which are not specified but could be substantial given the home's value. Based on typical Chicago rates, annual property taxes could exceed $40,000, significantly impacting the total cost of ownership. The air quality risk score of 4/10 (moderate) with 5 bad air days per year could be a health concern for sensitive individuals. The heat risk score of 3/10 with 7 hot days per year above 99°F suggests potential discomfort and higher cooling costs during summer months.

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Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for affluent buyers with household incomes exceeding $400,000, based on a 28% front-end DTI ratio for the estimated mortgage payment. It's perfect for growing families who value education, given its proximity to the highly-rated Blaine Elementary School. The spacious layout and high-end finishes make it suitable for professionals who frequently entertain or work from home. Investors looking for luxury rental properties could benefit from the high-end features and location, with potential monthly rents of $8,000-$10,000 based on comparable properties in the area.

Not For

This property is not suitable for first-time homebuyers or those with budgets under $1.5 million due to its high price point. It's not ideal for empty nesters or retirees looking to downsize, given its large 4,080 sqft layout. Investors seeking immediate rental income should look elsewhere due to the 2025 completion date. The property may not suit families with high school-aged children due to the low-rated local high school. Buyers sensitive to high property taxes or those unable to afford potential annual tax bills exceeding $40,000 should consider alternatives.
Demographics
Area Median Income

$88,267

Property History

Price History
Ownership Timeline
$670,000Cash Purchase
Feb 7, 2024
Mary Katherine Morris, Estate Of Mary T Lyons3920 Paulina Llc
Warranty Deed
Standard Sale (Purchase/Resales)

Property Taxes

$15,426
2022 Tax Assessment
856.3%from previous year
Assessed Value$74,999
Tax Rate20.57%

Sunlight Analysis

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Sunlight Analysis

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Risk Assessment

Climate Risks

airMODERATE

5 bad air quality days per year

heatMINIMAL

7 extreme heat days per year

98th percentile: 99°F

windMINIMAL

Insurance: Recommended

floodMINIMAL

FEMA Zone: Minimal Risk Area

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

Market volatility risk is high due to the significant price increase and future completion date. There's potential for overvaluation, which could impact future appreciation or lead to difficulties in resale. The high property taxes in Chicago pose a long-term financial risk, potentially affecting affordability and resale value. Construction delays could push the completion date beyond February 2025, affecting move-in plans and potentially exposing buyers to additional market risks. The moderate air quality risk (4/10) and heat risk (3/10) may lead to increased energy costs and potential health concerns. As a new construction, there may be unforeseen issues or defects that become apparent after completion, requiring warranty claims or repairs.
Insurance
Annual Cost

$7,740

$645 per month

Cost & Affordability

Monthly Costs

Breakdown of estimated monthly expenses for this property

Monthly Payment
$0
* Estimated at 1% of home value annually. Actual costs may vary.
Not Included in Estimate
• Utilities (electricity, gas, water, internet)
• Home improvements and upgrades
• Landscaping and yard maintenance
• Pest control and home services
• Emergency repairs and replacements

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$2,150 monthly
$645 monthly

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Schools

Blaine Elementary School

Public•Grades PK-8
9/5
Primary
0.4 mi
Get more information on GreatSchools

Lake View High School

Public•Grades 9-12
3/5
High
0.2 mi
Get more information on GreatSchools

Financials

Monthly Costs
Market Rent (6 bed)

$3,260

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$2,150,000
Price/sqft
$527
Layout
6 bd•6 ba
Days on market
9 daysat time of analysis

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$2,059,917

4.4%

Your price is 4.4% above average

Median Price

$1,975,000

8.9%

Based on 6 recent sales

Price per Sq.Ft

$484

8.9%

Your price is 8.9% above average $/sqft

Comparable Properties

Price: $1,832,500
Sq.Ft: 4,100
Beds/Baths: 6/6
$/Sq.Ft:
$44715.2%
Sale Date: 12/2/2024
3806 N Hermitage Avenue, Chicago, IL 60613
Price: $1,880,000
Sq.Ft: 3,920
Beds/Baths: 6/6
$/Sq.Ft:
$4809.0%
Sale Date: 11/15/2024
4326 N Bell Avenue, Chicago, IL 60618
Price: $2,005,000
Sq.Ft: 4,200
Beds/Baths: 6/6
$/Sq.Ft:
$4779.4%
Sale Date: 10/23/2024
1924 W Cuyler Avenue, Chicago, IL 60613
Price: $2,717,000
Sq.Ft: 4,800
Beds/Baths: 6/6
$/Sq.Ft:
$5667.4%
Sale Date: 11/19/2024
3823 N Marshfield Avenue, Chicago, IL 60613
Price: $1,975,000
Sq.Ft: 4,300
Beds/Baths: 5/6
$/Sq.Ft:
$45912.8%
Sale Date: 8/8/2024
3301 N Hamilton Avenue, Chicago, IL 60618
Price: $1,950,000
Sq.Ft: 4,100
Beds/Baths: 6/5
$/Sq.Ft:
$4769.7%
Sale Date: 11/13/2024

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