1951 Merritt LnLake ForestIL60045
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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 Lake Forest at 1951 Merritt Ln, Lake Forest, IL, 60045 priced at $1,775,000 converts $15,040/mo rent into $2,728/mo cash flow after a $8,688/mo obligation. Total monthly income equals $15,040/mo, and annual cash flow totals $32,736/yr on $575,100 invested. Return on cash invested prints 26.06% in year one, and rental yield reads 10.17% against a $1,775,000 entry. Equity gained on principal adds $11,454/yr, while 5% annual appreciation compiles into $490,400 by year five. Five-year ROI reaches 136.75% and total cumulative return in cash sums $786,430. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $15,040/mo property income covering a $8,688/mo payment, not borrower’s personal income.
Single Family
Built in 1994
1.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60045, Lake Forest, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,454 (100%) |
| Owner Occupied HU | 6,675 (79.0%) |
| Renter Occupied HU | 1,030 (12.2%) |
| Vacant Housing Units | 749 ( 8.9%) |
| Median Home Value | $893,908 |
| Average Home Value | $1,015,890 |
Housing Distribution
Address Breakdown
Residential
8,147
Single Family
7,248
Multi-Family
899
Businesses
890
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Listed by: Lisa Trace • @properties Christie's International Real Estate
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12127292
Disclaimer: Based on information submitted to the MLS GRID as of 2024-02-07 09:06:36 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_17)