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3925 N Lowell Ave
Chicago, IL

3925 N Lowell Ave

$733,000
4 bd • 2 ba • 1,548 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$733,000

Price/Sq.Ft

$474

Year Built

AI Property Analysis

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

The Good

The property at 3925 N Lowell Ave, Chicago, IL 60641 offers several attractive features. At 1,548 sqft, it's 7.5% larger than the average 3-bedroom home in Chicago (1,440 sqft). The 4 bedrooms provide flexibility for families or potential rental income. Its price of $473.51/sqft is competitive, just 3.5% above the median price of $457/sqft for similar homes in the area. The property's location in the Irving Park neighborhood offers a good balance of urban amenities and residential charm, with a walk score of 78, indicating most errands can be accomplished on foot. The mature trees surrounding the property enhance curb appeal and provide natural shade, potentially reducing cooling costs in summer.

The Bad

The property's age is unknown, which raises concerns about potential hidden maintenance issues and outdated systems. With only 2 bathrooms for 4 bedrooms, the bathroom-to-bedroom ratio is below the ideal 1:1 for modern family homes. The lack of detailed information about features, utilities, and systems makes it difficult to assess the true condition and value of the property. The asking price of $733,000 is 10.05 times the median income of $72,950, which is above the recommended affordability ratio of 3-5 times annual income, potentially limiting the pool of eligible buyers.

The Ugly

Chicago's notoriously high property taxes could significantly increase the total cost of ownership. Based on the city's average effective tax rate of 2.10%, annual property taxes could be around $15,400, a substantial ongoing expense. The lack of information about the home's age and condition suggests potential for major system replacements (HVAC, roof, plumbing) in the near future, which could cost $30,000-$50,000 or more. Chicago's harsh winters may have taken a toll on the exterior, potentially requiring significant maintenance or repairs. The current four-bedroom rental rate of $2,172 indicates a potential gross rental yield of only 3.55%, which is low for investment purposes and may not cover the mortgage and additional expenses.

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 best suited for a family with a household income of at least $180,000 (based on a 28% front-end DTI ratio for a mortgage payment). It's ideal for those who value space and a family-friendly neighborhood over modern amenities. The property could appeal to buyers looking for a long-term family home with potential for appreciation as they invest in updates over time. It may also interest investors looking for a multi-unit conversion opportunity, given the size and bedroom count, subject to local zoning laws.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets due to the high purchase price and potential for significant ongoing maintenance costs. It's not ideal for investors seeking immediate rental income, as the potential rental yield is low compared to the purchase price. Buyers looking for a move-in ready, modern home with updated systems and finishes should look elsewhere, as this property likely requires substantial updates.
Demographics
Area Median Income

$72,950

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Risk Assessment

Risk Analysis

The unknown age of the property poses a significant risk of unexpected repair costs. There's a potential for outdated electrical, plumbing, or HVAC systems that could require costly upgrades to meet current codes. The high property tax burden in Chicago could increase over time, affecting long-term affordability. The current state of the Chicago real estate market, with rising interest rates and economic uncertainty, could impact future appreciation. The property's location may be subject to special assessments for infrastructure improvements, adding to the cost of ownership. Climate-related risks in Chicago, such as extreme cold and potential flooding, could lead to higher insurance premiums and maintenance costs.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$429,250

-41.4% below list price

Median Price

$515,000

Based on 6 recent sales

Price per Sq.Ft

$255

Comparable Properties

3846 N Kedvale Avenue, Chicago, IL 60641
Price: $575,000
Sq.Ft: 1,656
Beds/Baths: 3/2
$/Sq.Ft:
$34726.7%
Sale Date: 11/13/2024
4447 N Lamon Avenue, Chicago, IL 60630
Price: $515,000
Sq.Ft: 1,800
Beds/Baths: 4/2
$/Sq.Ft:
$28639.6%
Sale Date: 11/23/2024
3724 W Wilson Avenue #1W, Chicago, IL 60625
Price: $263,000
Sq.Ft: 1,600
Beds/Baths: 3/2
$/Sq.Ft:
$16465.3%
Sale Date: 9/10/2024
4826 W Warner Avenue, Chicago, IL 60641
Price: $430,000
Sq.Ft: 1,700
Beds/Baths: 4/2
$/Sq.Ft:
$25346.6%
Sale Date: 9/20/2024
4170 W Cornelia Street, Chicago, IL 60641
Price: $270,000
Sq.Ft: 1,500
Beds/Baths: 3/2
$/Sq.Ft:
$18062.0%
Sale Date: 8/21/2024
4422 N La Crosse Avenue, Chicago, IL 60630
Price: $522,500
Sq.Ft: 1,760
Beds/Baths: 4/2
$/Sq.Ft:
$29737.3%
Sale Date: 9/17/2024

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