229 S Edison AveElginIL60123
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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 Elgin at 229 S Edison Ave, Elgin, IL, 60123 offers $1,783/mo rent that, after a $895/mo payment, leaves $515/mo cash flow. Total monthly income is $1,783/mo, and annual cash flow is $6,175/yr on $60,631 cash. Return on cash invested measures 30.09% in year one, and rental yield stands at 11.7% at a $182,900 entry. Equity gained on principal adds $1,180/yr while 5% annual appreciation compounds into $50,532 by year five. Five-year ROI records 158.46% and total cumulative return in cash reaches $96,075. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,783/mo property income versus a $895/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1940
7,100 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60123, Elgin, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,172 (100%) |
| Owner Occupied HU | 11,272 (62.0%) |
| Renter Occupied HU | 6,153 (33.9%) |
| Vacant Housing Units | 747 ( 4.1%) |
| Median Home Value | $269,733 |
| Average Home Value | $313,397 |
Housing Distribution
Address Breakdown
Residential
17,284
Single Family
13,804
Multi-Family
3,480
Businesses
1,463
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