1305 S Michigan Ave APT 1506ChicagoIL60605
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe income profile at 1305 S Michigan Ave APT 1506, Chicago, IL, 60605 in Chicago is straightforward: $387,000 in, $3,773/mo in rent, $486/mo out after debt service. The 11.7% gross yield and 2.17 DSCR make this exactly the kind of asset Ziffy Mortgage finances for non-U.S. residents without income documentation. Appreciation at 5%/yr adds $106,921 by year five. With $3,564/yr in principal equity, the total cumulative return is projected at $218,077.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.7% | 6.1% |
| Monthly Cash Flow | $486 | $850 |
City averages based on Chicago market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,773 |
| Total Monthly Debt Service | $2,530 |
| DSCR Ratio | 1.49x |
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.
Condo
Built in 2004
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60605, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,547 (100%) |
| Owner Occupied HU | 7,539 (32.0%) |
| Renter Occupied HU | 12,603 (53.5%) |
| Vacant Housing Units | 3,405 (14.5%) |
| Median Home Value | $472,201 |
| Average Home Value | $575,433 |
Housing Distribution
Address Breakdown
Residential
20,878
Single Family
1,088
Multi-Family
19,790
Businesses
960
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
Condo
Built in 2004
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60605, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,547 (100%) |
| Owner Occupied HU | 7,539 (32.0%) |
| Renter Occupied HU | 12,603 (53.5%) |
| Vacant Housing Units | 3,405 (14.5%) |
| Median Home Value | $472,201 |
| Average Home Value | $575,433 |
Housing Distribution
Address Breakdown
Residential
20,878
Single Family
1,088
Multi-Family
19,790
Businesses
960
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices