2808 Western AveMattoonIL61938
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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 Mattoon at 2808 Western Ave, Mattoon, IL, 61938 offers a 8.64% rental yield on a $174,900 purchase with $1,259/mo rent. Total monthly income registers $1,259/mo, and a $856/mo payment leaves $46/mo available for distribution. Annual cash flow reaches $551/yr on $57,979 to close, and return on cash invested stands at 20.86% in year one. Equity gained on principal adds $1,129/yr while 5% annual appreciation supports $48,322 over five years. Portfolio math shows five-year ROI at 108.93% and total cumulative return in cash at $63,156. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,259/mo property income against a $856/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1920
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61938, Mattoon, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,452 (100%) |
| Owner Occupied HU | 5,908 (56.5%) |
| Renter Occupied HU | 3,244 (31.0%) |
| Vacant Housing Units | 1,300 (12.4%) |
| Median Home Value | $120,975 |
| Average Home Value | $155,596 |
Housing Distribution
Address Breakdown
Residential
9,742
Single Family
9,027
Multi-Family
715
Businesses
936
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