1720 S Michigan Ave APT 3210ChicagoIL60616
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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 Chicago at 1720 S Michigan Ave APT 3210, Chicago, IL, 60616 generates $3,355/mo in rent, after a $2,293/mo payment. Total monthly income is $3,355/mo. Return on cash invested sits at 15.2% in year one, and rental yield is 8.59% on a $468,500 entry. Equity gained on principal adds $3,023/yr, while 5% annual appreciation builds toward $129,438 over five years. Five-year ROI reaches 80.58% and total cumulative return in cash sums $125,142. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,355/mo property income rather than buyer’s personal income.
Condo
Built in 2007
N/A lot
$N/A/sqft
$715 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60616, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,617 (100%) |
| Owner Occupied HU | 8,535 (30.9%) |
| Renter Occupied HU | 16,441 (59.5%) |
| Vacant Housing Units | 2,641 ( 9.6%) |
| Median Home Value | $405,780 |
| Average Home Value | $465,159 |
Housing Distribution
Address Breakdown
Residential
23,897
Single Family
6,943
Multi-Family
16,954
Businesses
1,662
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Listed by: Alejandro Bravo • Compass
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12335503
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)