2308 Ridge AveRockfordIL61103
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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 Rockford at 2308 Ridge Ave, Rockford, IL, 61103 offers a 9.41% rental yield on a $105,000 purchase with $823/mo rent. Total monthly income registers $823/mo, and a $514/mo payment leaves $95/mo available for distribution. Annual cash flow reaches $1,135/yr on $34,808 to close, and return on cash invested stands at 23.17% in year one. Equity gained on principal adds $678/yr while 5% annual appreciation supports $29,010 over five years. Portfolio math shows five-year ROI at 121.36% and total cumulative return in cash at $42,242. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $823/mo property income against a $514/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1948
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61103, Rockford, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,046 (100%) |
| Owner Occupied HU | 5,025 (45.5%) |
| Renter Occupied HU | 4,904 (44.4%) |
| Vacant Housing Units | 1,117 (10.1%) |
| Median Home Value | $143,110 |
| Average Home Value | $176,481 |
Housing Distribution
Address Breakdown
Residential
10,229
Single Family
8,022
Multi-Family
2,207
Businesses
400
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