2209 Melrose AveWaukeganIL60085
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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 Waukegan at 2209 Melrose Ave, Waukegan, IL, 60085 offers a 10.48% rental yield on a $274,900 purchase with $2,400/mo rent. Total monthly income registers $2,400/mo, and a $1,346/mo payment leaves $494/mo available for distribution. Annual cash flow reaches $5,925/yr on $91,129 to close, and return on cash invested stands at 26.41% in year one. Equity gained on principal adds $1,774/yr while 5% annual appreciation supports $75,950 over five years. Portfolio math shows five-year ROI at 138.69% and total cumulative return in cash at $126,387. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,400/mo property income against a $1,346/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1964
5,950 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60085, Waukegan, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,314 (100%) |
| Owner Occupied HU | 11,009 (43.5%) |
| Renter Occupied HU | 12,949 (51.2%) |
| Vacant Housing Units | 1,356 ( 5.4%) |
| Median Home Value | $178,326 |
| Average Home Value | $229,648 |
Housing Distribution
Address Breakdown
Residential
23,168
Single Family
15,856
Multi-Family
7,312
Businesses
1,796
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