228 N Madison StCarthageIL62321
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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 Carthage at 228 N Madison St, Carthage, IL, 62321 offers $866/mo rent that, after a $538/mo payment, leaves $104/mo cash flow. Total monthly income is $866/mo, and annual cash flow is $1,243/yr on $36,432 cash. Return on cash invested measures 23.32% in year one, and rental yield stands at 9.46% at a $109,900 entry. Equity gained on principal adds $709/yr while 5% annual appreciation compounds into $30,363 by year five. Five-year ROI records 122.18% and total cumulative return in cash reaches $44,512. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $866/mo property income versus a $538/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Manufactured
Built in 1995
0.45 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62321, Carthage, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,952 (100%) |
| Owner Occupied HU | 1,321 (67.7%) |
| Renter Occupied HU | 357 (18.3%) |
| Vacant Housing Units | 274 (14.0%) |
| Median Home Value | $132,910 |
| Average Home Value | $183,747 |
Housing Distribution
Address Breakdown
Residential
1,742
Single Family
1,717
Multi-Family
25
Businesses
195
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