2402 Meridian DrJolietIL60431
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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 Joliet at 2402 Meridian Dr, Joliet, IL, 60431 uses $119,307 cash to close to unlock $7,178/yr annual cash flow and $598/mo monthly cash flow. Total monthly income runs $3,095/mo, and a $1,762/mo payment keeps the spread at $598/mo. Purchase price stands at $359,900, and rental yield measures 10.32% with $3,095/mo rent. Return on cash invested shows 25.93% in year one, and 5% annual appreciation builds toward $99,434 over five years. Five-year ROI reaches 136.11% and total cumulative return in cash records $162,386. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,095/mo property income covering a $1,762/mo payment rather than investor’s personal income.
Single Family
Built in 1991
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60431, Joliet, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,431 (100%) |
| Owner Occupied HU | 8,764 (84.0%) |
| Renter Occupied HU | 1,224 (11.7%) |
| Vacant Housing Units | 443 ( 4.2%) |
| Median Home Value | $307,933 |
| Average Home Value | $338,146 |
Housing Distribution
Address Breakdown
Residential
9,961
Single Family
9,528
Multi-Family
433
Businesses
403
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