2440 Simpson StEvanstonIL60201
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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 Evanston at 2440 Simpson St, Evanston, IL, 60201 uses $291,165 cash to close to unlock $2,053/yr annual cash flow and $171/mo monthly cash flow. Total monthly income runs $6,310/mo, and a $4,332/mo payment keeps the spread at $171/mo. Purchase price stands at $885,000, and rental yield measures 8.56% with $6,310/mo rent. Return on cash invested shows 20.77% in year one, and 5% annual appreciation builds toward $244,509 over five years. Five-year ROI reaches 108.4% and total cumulative return in cash records $315,618. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $6,310/mo property income covering a $4,332/mo payment rather than investor’s personal income.
Single Family
Built in 1964
6,050 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60201, Evanston, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,520 (100%) |
| Owner Occupied HU | 9,418 (48.2%) |
| Renter Occupied HU | 7,818 (40.1%) |
| Vacant Housing Units | 2,284 (11.7%) |
| Median Home Value | $586,169 |
| Average Home Value | $643,981 |
Housing Distribution
Address Breakdown
Residential
18,839
Single Family
8,171
Multi-Family
10,668
Businesses
1,446
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