181 Melinda DrSouth ElginIL60177
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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 South Elgin at 181 Melinda Dr, South Elgin, IL, 60177 generates $1,964/mo in rent, after a $1,419/mo payment. Total monthly income is $1,964/mo. Return on cash invested sits at 19.32% in year one, and rental yield is 8.13% on a $289,900 entry. Equity gained on principal adds $1,871/yr, while 5% annual appreciation builds toward $80,094 over five years. Five-year ROI reaches 100.74% and total cumulative return in cash sums $96,813. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,964/mo property income rather than buyer’s personal income.
Single Family
Built in 1963
8,704 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60177, South Elgin, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,125 (100%) |
| Owner Occupied HU | 7,325 (80.3%) |
| Renter Occupied HU | 1,441 (15.8%) |
| Vacant Housing Units | 359 ( 3.9%) |
| Median Home Value | $350,347 |
| Average Home Value | $380,650 |
Housing Distribution
Address Breakdown
Residential
9,196
Single Family
8,388
Multi-Family
808
Businesses
633
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Listed by: Amanda Jones • Associates Realty
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12444794