1371 Ridge RdSouth ElginIL60177
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
Investment Highlights
Rental property for sale in South Elgin at 1371 Ridge Rd, South Elgin, IL, 60177 priced at $315,000 pairs $3,028/mo rent with $752/mo cash flow after a $1,542/mo payment. Total monthly income equals $3,028/mo, and annual cash flow comes to $9,025/yr on $104,423 invested. Return on cash invested is 28.55% in year one, and rental yield stands at 11.54% on a $315,000 basis. Equity gained on principal adds $2,033/yr, and 5% annual appreciation accumulates to $87,029 by year five. Five-year ROI measures 150.59% and total cumulative return in cash reaches $157,253. For financing, Ziffy Mortgage’s DSCR program evaluates $3,028/mo property income against a $1,542/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1996
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60177, South Elgin, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,125 (100%) |
| Owner Occupied HU | 7,325 (80.3%) |
| Renter Occupied HU | 1,441 (15.8%) |
| Vacant Housing Units | 359 ( 3.9%) |
| Median Home Value | $350,347 |
| Average Home Value | $380,650 |
Housing Distribution
Address Breakdown
Residential
9,196
Single Family
8,388
Multi-Family
808
Businesses
633
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Nearby investment properties with comparable prices
Listed by: Randal Marshall • Keller Williams Premiere Properties
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12187272
Disclaimer: Based on information submitted to the MLS GRID as of 2024-02-07 09:06:36 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_17)