24205 Payne RdShannonIL61078
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderReliable and efficiently structured, 24205 Payne Rd, Shannon, IL, 61078 in Shannon is a conservative rental investment at $345,000. Rental yield 7.65%. A 1.42 coverage ratio meets Ziffy Mortgage's DSCR standard for foreign-national financing. Five-year equity: 5% appreciation adds $95,317; $3,177/yr in principal paydown supplements. Total projected return: $106,185.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.7% | 8.0% |
| Monthly Cash Flow | $(416) | $500 |
City averages based on Shannon market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,201 |
| Total Monthly Debt Service | $2,479 |
| DSCR Ratio | 0.89x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1878
5 Acres lot
$N/A/sqft
$2,685 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61078, Shannon, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 641 (100%) |
| Owner Occupied HU | 490 (76.4%) |
| Renter Occupied HU | 81 (12.6%) |
| Vacant Housing Units | 70 (10.9%) |
| Median Home Value | $180,556 |
| Average Home Value | $242,878 |
Housing Distribution
Address Breakdown
Residential
528
Single Family
528
Multi-Family
0
Businesses
43
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1878
5 Acres lot
$N/A/sqft
$2,685 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61078, Shannon, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 641 (100%) |
| Owner Occupied HU | 490 (76.4%) |
| Renter Occupied HU | 81 (12.6%) |
| Vacant Housing Units | 70 (10.9%) |
| Median Home Value | $180,556 |
| Average Home Value | $242,878 |
Housing Distribution
Address Breakdown
Residential
528
Single Family
528
Multi-Family
0
Businesses
43
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tracey DeCrane • Re/Max Town Lake & Country
Mls Name: NorthWest Illinois Alliance of REALTORS
Mls Provider:
Mls ID: #202500274
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.