1845 S Michigan Ave UNIT 808ChicagoIL60616
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
Investment Highlights
Rental property for sale in Chicago at 1845 S Michigan Ave UNIT 808, Chicago, IL, 60616 generates $2,274/mo in rent and, after a $1,317/mo payment, leaves $408/mo in cash flow. Total monthly income is $2,274/mo, and annual cash flow is $4,893/yr on $89,174 invested. Return on cash invested sits at 25.4% in year one, and rental yield is 10.14% on a $269,000 entry. Equity gained on principal adds $1,736/yr, while 5% annual appreciation builds toward $74,320 over five years. Five-year ROI reaches 133.25% and total cumulative return in cash sums $118,823. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,274/mo property income rather than buyer’s personal income.
Condo
Built in 2003
N/A lot
$N/A/sqft
No 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