1602 E Illinois AveMidlandTX79701
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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 Midland at 1602 E Illinois Ave, Midland, TX, 79701 listed at $178,000 pairs $1,384/mo rent with a $871/mo payment to leave $118/mo cash flow. Total monthly income runs $1,384/mo, and annual cash flow reaches $1,421/yr on $59,007 cash to close. Return on cash invested measures 22.32% in year one, and rental yield registers 9.33% at a $178,000 basis. Equity gained on principal adds $1,149/yr, and annual property appreciation at 5% supports $49,178 by year five. Five-year ROI tracks 117% and total cumulative return in cash totals $69,037. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,384/mo property income relative to a $871/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2014
3,179 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 79701, Midland, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,564 (100%) |
| Owner Occupied HU | 6,530 (52.0%) |
| Renter Occupied HU | 3,947 (31.4%) |
| Vacant Housing Units | 2,087 (16.6%) |
| Median Home Value | $236,762 |
| Average Home Value | $288,236 |
Housing Distribution
Address Breakdown
Residential
11,590
Single Family
10,059
Multi-Family
1,531
Businesses
2,687
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