1956 W Melrose St #102ChicagoIL60657
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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
Investment property for sale in Chicago at 1956 W Melrose St #102, Chicago, IL, 60657 offers a 10.17% rental yield on a $270,000 purchase with $2,288/mo rent. Total monthly income registers $2,288/mo, and a $1,322/mo payment leaves $415/mo available for distribution. Annual cash flow reaches $4,977/yr on $89,505 to close, and return on cash invested stands at 25.47% in year one. Equity gained on principal adds $1,742/yr while 5% annual appreciation supports $74,596 over five years. Portfolio math shows five-year ROI at 133.66% and total cumulative return in cash at $119,629. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,288/mo property income against a $1,322/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1926
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60657, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 45,834 (100%) |
| Owner Occupied HU | 15,811 (34.5%) |
| Renter Occupied HU | 26,750 (58.4%) |
| Vacant Housing Units | 3,273 ( 7.1%) |
| Median Home Value | $548,884 |
| Average Home Value | $687,417 |
Housing Distribution
Address Breakdown
Residential
41,857
Single Family
7,557
Multi-Family
34,300
Businesses
2,016
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