1643 N 23rd AveMelrose ParkIL60160
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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 Melrose Park at 1643 N 23rd Ave, Melrose Park, IL, 60160 earns from $1,680/mo rent with a $1,757/mo payment. Total monthly income totals $1,680/mo. ROI tracks 11.74% on current figures, and rental yield reads 5.62% at a $359,000 purchase. Equity gained on principal adds $2,317/yr, and 5% annual appreciation supports $99,185 over five years. Five-year ROI reaches 60.07% and total cumulative return in cash sums $71,491. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,680/mo property income instead of your personal income.
Single Family
Built in 1954
4,125 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60160, Melrose Park, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,678 (100%) |
| Owner Occupied HU | 4,094 (47.2%) |
| Renter Occupied HU | 4,077 (47.0%) |
| Vacant Housing Units | 507 ( 5.8%) |
| Median Home Value | $286,722 |
| Average Home Value | $279,533 |
Housing Distribution
Address Breakdown
Residential
7,552
Single Family
5,458
Multi-Family
2,094
Businesses
879
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Listed by: Jason Palermo • HomeSmart Connect LLC
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12550574