1838 S Springfield Ave APT AChicagoIL60623
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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 1838 S Springfield Ave APT A, Chicago, IL, 60623 generates $1,031/mo in rent and, after a $661/mo payment, leaves $94/mo in cash flow. Total monthly income is $1,031/mo, and annual cash flow is $1,132/yr on $44,753 invested. Return on cash invested sits at 22.44% in year one, and rental yield is 9.16% on a $135,000 entry. Equity gained on principal adds $871/yr, while 5% annual appreciation builds toward $37,298 over five years. Five-year ROI reaches 117.45% and total cumulative return in cash sums $52,561. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,031/mo property income rather than buyer’s personal income.
Condo
Built in 2004
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60623, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 31,760 (100%) |
| Owner Occupied HU | 9,106 (28.7%) |
| Renter Occupied HU | 18,918 (59.6%) |
| Vacant Housing Units | 3,736 (11.8%) |
| Median Home Value | $246,210 |
| Average Home Value | $270,307 |
Housing Distribution
Address Breakdown
Residential
18,318
Single Family
12,903
Multi-Family
5,415
Businesses
1,637
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