1845 S Michigan Ave UNIT 1009ChicagoIL60616
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe income profile at 1845 S Michigan Ave UNIT 1009, Chicago, IL, 60616 in Chicago is straightforward: $271,600 in, $2,689/mo in rent, $482/mo out after debt service. The 11.88% gross yield and 2.20 DSCR make this exactly the kind of asset Ziffy Mortgage finances for non-U.S. residents without income documentation. Appreciation at 5%/yr adds $75,038 by year five. With $2,501/yr in principal equity, the total cumulative return is projected at $136,346.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.9% | 6.1% |
| Monthly Cash Flow | $482 | $850 |
City averages based on Chicago market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,689 |
| Total Monthly Debt Service | $2,099 |
| DSCR Ratio | 1.28x |
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 2003
0.54 Acres lot
$N/A/sqft
$323 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
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 2003
0.54 Acres lot
$N/A/sqft
$323 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices