183 Grove Ave Unit BDes PlainesIL60016
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThis is a cash-flow-light asset: 183 Grove Ave Unit B, Des Plaines, IL, 60016 in Des Plaines, $264,000, 10.58% gross yield, $159/mo net income. Consider it a market-entry position, the $2,327/mo rent covers the $1,187/mo payment with a margin, and 5%/yr appreciation is projected to add $72,938 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.96) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $132,867.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.6% | 6.2% |
| Monthly Cash Flow | $159 | $850 |
City averages based on Des Plaines market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,327 |
| Total Monthly Debt Service | $1,726 |
| DSCR Ratio | 1.35x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Condo
Built in 1993
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60016, Des Plaines, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,341 (100%) |
| Owner Occupied HU | 16,181 (61.4%) |
| Renter Occupied HU | 8,194 (31.1%) |
| Vacant Housing Units | 1,966 ( 7.5%) |
| Median Home Value | $323,180 |
| Average Home Value | $335,747 |
Housing Distribution
Address Breakdown
Residential
25,701
Single Family
12,431
Multi-Family
13,270
Businesses
1,198
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
Condo
Built in 1993
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60016, Des Plaines, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,341 (100%) |
| Owner Occupied HU | 16,181 (61.4%) |
| Renter Occupied HU | 8,194 (31.1%) |
| Vacant Housing Units | 1,966 ( 7.5%) |
| Median Home Value | $323,180 |
| Average Home Value | $335,747 |
Housing Distribution
Address Breakdown
Residential
25,701
Single Family
12,431
Multi-Family
13,270
Businesses
1,198
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12581106