1408 Lafayette AveMattoonIL61938
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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
Rental property for sale in Mattoon at 1408 Lafayette Ave, Mattoon, IL, 61938 priced at $127,500 converts $1,259/mo rent into $375/mo cash flow after a $624/mo obligation. Total monthly income equals $1,259/mo, and annual cash flow totals $4,496/yr on $42,266 invested. Return on cash invested prints 30.55% in year one, and rental yield reads 11.85% against a $127,500 entry. Equity gained on principal adds $823/yr, while 5% annual appreciation compiles into $35,226 by year five. Five-year ROI reaches 160.92% and total cumulative return in cash sums $68,014. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,259/mo property income covering a $624/mo payment, not borrower’s personal income.
Single Family
Built in 1897
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61938, Mattoon, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,452 (100%) |
| Owner Occupied HU | 5,908 (56.5%) |
| Renter Occupied HU | 3,244 (31.0%) |
| Vacant Housing Units | 1,300 (12.4%) |
| Median Home Value | $120,975 |
| Average Home Value | $155,596 |
Housing Distribution
Address Breakdown
Residential
9,742
Single Family
9,027
Multi-Family
715
Businesses
936
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