222 Madison St UNIT 401JolietIL60435
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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 Joliet at 222 Madison St UNIT 401, Joliet, IL, 60435 generates $1,726/mo in rent and, after a $514/mo payment, leaves $799/mo in cash flow. Total monthly income is $1,726/mo, and annual cash flow is $9,583/yr on $34,808 invested. Return on cash invested sits at 47.44% in year one, and rental yield is 19.73% on a $105,000 entry. Equity gained on principal adds $678/yr, while 5% annual appreciation builds toward $29,010 over five years. Five-year ROI reaches 254.02% and total cumulative return in cash sums $88,418. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,726/mo property income rather than buyer’s personal income.
Condo
Built in 1978
N/A lot
$N/A/sqft
$199 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60435, Joliet, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,279 (100%) |
| Owner Occupied HU | 12,057 (62.5%) |
| Renter Occupied HU | 6,445 (33.4%) |
| Vacant Housing Units | 777 ( 4.0%) |
| Median Home Value | $240,246 |
| Average Home Value | $280,440 |
Housing Distribution
Address Breakdown
Residential
18,519
Single Family
16,011
Multi-Family
2,508
Businesses
1,368
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Listed by: Laura Bauer • Spring Realty
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12187628
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)