1213 Elgin AveJolietIL60432
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 1213 Elgin Ave, Joliet, IL, 60432 in Joliet hard to pass up. The 13.03% gross yield on a $254,900 purchase results in $2,767/mo in rent and $999/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.41). Annual cash flow of $11,990, five-year appreciation of $70,424, and $2,348/yr in equity build-up combine for a projected total cumulative return of $161,799.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13% | 6.8% |
| Monthly Cash Flow | $999 | $1,250 |
City averages based on Joliet market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,767 |
| Total Monthly Debt Service | $1,667 |
| DSCR Ratio | 1.66x |
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 1910
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60432, Joliet, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,747 (100%) |
| Owner Occupied HU | 3,548 (52.6%) |
| Renter Occupied HU | 2,760 (40.9%) |
| Vacant Housing Units | 439 ( 6.5%) |
| Median Home Value | $223,712 |
| Average Home Value | $264,620 |
Housing Distribution
Address Breakdown
Residential
6,206
Single Family
5,805
Multi-Family
401
Businesses
648
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 1910
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60432, Joliet, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,747 (100%) |
| Owner Occupied HU | 3,548 (52.6%) |
| Renter Occupied HU | 2,760 (40.9%) |
| Vacant Housing Units | 439 ( 6.5%) |
| Median Home Value | $223,712 |
| Average Home Value | $264,620 |
Housing Distribution
Address Breakdown
Residential
6,206
Single Family
5,805
Multi-Family
401
Businesses
648
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices