1650 Riverwoods Dr UNIT 503Melrose 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
Rental property for sale in Melrose Park at 1650 Riverwoods Dr UNIT 503, Melrose Park, IL, 60160 generates $1,260/mo in rent, after a $1,052/mo payment. Total monthly income is $1,260/mo. Return on cash invested sits at 16.02% in year one, and rental yield is 7.03% on a $215,000 entry. Equity gained on principal adds $1,387/yr, while 5% annual appreciation builds toward $59,401 over five years. Five-year ROI reaches 83.04% and total cumulative return in cash sums $59,185. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,260/mo property income rather than buyer’s personal income.
Condo
Built in 2006
N/A 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: Paul Swanson • Baird & Warner
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12456757