1240 N Lake Shore Dr APT 28AChicagoIL60610
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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
Investment Highlights
Investment property for sale in Chicago at 1240 N Lake Shore Dr APT 28A, Chicago, IL, 60610 uses $208,389 cash to close to unlock $6,553/yr annual cash flow and $546/mo monthly cash flow. Total monthly income runs $6,727/mo, and a $3,100/mo payment keeps the spread at $546/mo. Purchase price stands at $633,400, and rental yield measures 12.74% with $6,727/mo rent. Return on cash invested shows 23.21% in year one, and 5% annual appreciation builds toward $174,997 over five years. Five-year ROI reaches 125.21% and total cumulative return in cash records $260,926. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $6,727/mo property income covering a $3,100/mo payment rather than investor’s personal income.
Condo
Built in 1970
8,820 sqft lot
$N/A/sqft
$1,604 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60610, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,859 (100%) |
| Owner Occupied HU | 9,258 (28.2%) |
| Renter Occupied HU | 19,303 (58.7%) |
| Vacant Housing Units | 4,298 (13.1%) |
| Median Home Value | $546,047 |
| Average Home Value | $676,055 |
Housing Distribution
Address Breakdown
Residential
30,994
Single Family
2,310
Multi-Family
28,684
Businesses
1,175
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