1600 S Prairie Ave #705ChicagoIL60605
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe income profile at 1600 S Prairie Ave #705, Chicago, IL, 60605 in Chicago is straightforward: $289,500 in, $2,808/mo in rent, $343/mo out after debt service. The 11.64% gross yield and 2.16 DSCR make this exactly the kind of asset Ziffy Mortgage finances for non-U.S. residents without income documentation. Appreciation at 5%/yr adds $79,984 by year five. With $2,666/yr in principal equity, the total cumulative return is projected at $162,168.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.6% | 6.1% |
| Monthly Cash Flow | $343 | $850 |
City averages based on Chicago market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,808 |
| Total Monthly Debt Service | $1,893 |
| DSCR Ratio | 1.48x |
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 2006
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 2006
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