10302 W Palmer AveMelrose ParkIL60164
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 10302 W Palmer Ave, Melrose Park, IL, 60164 in Melrose Park speaks for itself: 10.6% gross on a $425,000 price, generating $3,752/mo in rent and $805/mo in net income after the $1,911/mo debt service. DSCR 1.96, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $9,654 stacks alongside $117,420 in projected five-year appreciation and $3,914/yr in principal reduction. Projected total cumulative return: $214,319.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.6% | 6.5% |
| Monthly Cash Flow | $805 | $300 |
City averages based on Melrose Park market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,752 |
| Total Monthly Debt Service | $2,779 |
| DSCR Ratio | 1.35x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1991
7,500 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60164, Melrose Park, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,356 (100%) |
| Owner Occupied HU | 5,078 (69.0%) |
| Renter Occupied HU | 1,787 (24.3%) |
| Vacant Housing Units | 491 ( 6.7%) |
| Median Home Value | $253,896 |
| Average Home Value | $283,058 |
Housing Distribution
Address Breakdown
Residential
7,059
Single Family
5,387
Multi-Family
1,672
Businesses
403
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Single Family
Built in 1991
7,500 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60164, Melrose Park, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,356 (100%) |
| Owner Occupied HU | 5,078 (69.0%) |
| Renter Occupied HU | 1,787 (24.3%) |
| Vacant Housing Units | 491 ( 6.7%) |
| Median Home Value | $253,896 |
| Average Home Value | $283,058 |
Housing Distribution
Address Breakdown
Residential
7,059
Single Family
5,387
Multi-Family
1,672
Businesses
403
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Victor Jimenez, ABR,E-PRO,PSA,RENE,SFR,SRS • Berkshire Hathaway HomeServices American Heritage
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12418671