10531 N Spring Garden LnMount VernonIL62864
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 10531 N Spring Garden Ln, Mount Vernon, IL, 62864 in Mount Vernon. Priced at $260,000, it generates $2,846/mo in gross rent and $1,043/mo in net monthly cash flow, a 13.14% yield that comfortably supports the 2.43 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $12,516. Five-year appreciation: $71,833. Equity from principal paydown: $2,395/yr. Total projected cumulative return: $166,581.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.1% | 7.0% |
| Monthly Cash Flow | $1,043 | $300 |
City averages based on Mount Vernon market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,846 |
| Total Monthly Debt Service | $1,700 |
| DSCR Ratio | 1.67x |
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 2023
2 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62864, Mount Vernon, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,134 (100%) |
| Owner Occupied HU | 6,771 (60.8%) |
| Renter Occupied HU | 3,058 (27.5%) |
| Vacant Housing Units | 1,305 (11.7%) |
| Median Home Value | $132,704 |
| Average Home Value | $163,466 |
Housing Distribution
Address Breakdown
Residential
10,370
Single Family
9,654
Multi-Family
716
Businesses
1,259
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 2023
2 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62864, Mount Vernon, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,134 (100%) |
| Owner Occupied HU | 6,771 (60.8%) |
| Renter Occupied HU | 3,058 (27.5%) |
| Vacant Housing Units | 1,305 (11.7%) |
| Median Home Value | $132,704 |
| Average Home Value | $163,466 |
Housing Distribution
Address Breakdown
Residential
10,370
Single Family
9,654
Multi-Family
716
Businesses
1,259
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: TROY D HORTON • H2 Realty Group
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #EB457840
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.