1650 Riverwoods Dr UNIT 708Melrose ParkIL60160
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
Investment Highlights
Investment property for sale in Melrose Park at 1650 Riverwoods Dr UNIT 708, Melrose Park, IL, 60160 listed at $215,000 pairs $1,260/mo rent with a $1,052/mo payment. Total monthly income runs $1,260/mo. Return on cash invested measures 8.44% in year one, and rental yield registers 7.03% at a $215,000 basis. Equity gained on principal adds $1,387/yr, and annual property appreciation at 5% supports $59,401 by year five. Five-year ROI tracks 45.16% and total cumulative return in cash totals $32,185. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,260/mo property income relative to a $1,052/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2006
N/A lot
$N/A/sqft
$450 monthly 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: Lauren Mitrick Wood • Compass
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12309287
Disclaimer: Based on information submitted to the MLS GRID as of 2025. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#17)