16602 N Steel LnWoodlawnIL62898
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 16602 N Steel Ln, Woodlawn, IL, 62898 in Woodlawn. Rental yield 2.35%. At $875,000 with 2.35% gross yield, current distributions are modest, but the 5% appreciation rate projects $241,746 in new equity by year five, complemented by $8,059/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.44) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $54,359.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.4% | 8.0% |
| Monthly Cash Flow | $(4,356) | $300 |
City averages based on Woodlawn 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 | $1,714 |
| Total Monthly Debt Service | $5,721 |
| DSCR Ratio | 0.30x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Single Family
Built in 2014
55 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62898, Woodlawn, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 836 (100%) |
| Owner Occupied HU | 667 (79.8%) |
| Renter Occupied HU | 105 (12.6%) |
| Vacant Housing Units | 64 ( 7.7%) |
| Median Home Value | $173,576 |
| Average Home Value | $195,465 |
Housing Distribution
Address Breakdown
Residential
811
Single Family
811
Multi-Family
0
Businesses
36
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
Single Family
Built in 2014
55 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62898, Woodlawn, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 836 (100%) |
| Owner Occupied HU | 667 (79.8%) |
| Renter Occupied HU | 105 (12.6%) |
| Vacant Housing Units | 64 ( 7.7%) |
| Median Home Value | $173,576 |
| Average Home Value | $195,465 |
Housing Distribution
Address Breakdown
Residential
811
Single Family
811
Multi-Family
0
Businesses
36
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices