194 Grove Ave Unit ADes PlainesIL60016
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowTight but positive: 194 Grove Ave Unit A, Des Plaines, IL, 60016 in Des Plaines at $276,000 earns $2,327/mo in rent and nets $28/mo after the $1,241/mo payment, a 10.12% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $76,254 over five years. Ziffy Mortgage underwrites this on a 1.88 DSCR without U.S. credit history. With $2,542/yr in principal paydown, total projected return reaches $132,127.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.1% | 6.2% |
| Monthly Cash Flow | $28 | $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 | $1,805 |
| DSCR Ratio | 1.29x |
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 1984
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 1984
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: Nayibe Garces • Prello Realty
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12553445