116 Forio AveMount CarmelIL62863
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 116 Forio Ave, Mount Carmel, IL, 62863 in Mount Carmel: $1,780/mo in rent, $535/mo net, 11.9% gross yield, all on a $179,500 acquisition. The 2.21 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $49,593 in value, and $1,653/yr in principal paydown steadily builds equity. Projected total cumulative return: $103,115.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.9% | 7.0% |
| Monthly Cash Flow | $535 | $300 |
City averages based on Mount Carmel market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,780 |
| Total Monthly Debt Service | $1,174 |
| DSCR Ratio | 1.52x |
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 1954
0.51 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62863, Mount Carmel, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,831 (100%) |
| Owner Occupied HU | 3,008 (62.3%) |
| Renter Occupied HU | 1,089 (22.5%) |
| Vacant Housing Units | 734 (15.2%) |
| Median Home Value | $120,496 |
| Average Home Value | $150,103 |
Housing Distribution
Address Breakdown
Residential
4,176
Single Family
3,915
Multi-Family
261
Businesses
389
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 1954
0.51 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62863, Mount Carmel, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,831 (100%) |
| Owner Occupied HU | 3,008 (62.3%) |
| Renter Occupied HU | 1,089 (22.5%) |
| Vacant Housing Units | 734 (15.2%) |
| Median Home Value | $120,496 |
| Average Home Value | $150,103 |
Housing Distribution
Address Breakdown
Residential
4,176
Single Family
3,915
Multi-Family
261
Businesses
389
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Amanda Macer • DHI REALTY INC.
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12565613