2824 E 24th StGranite CityIL62040
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow2824 E 24th St, Granite City, IL, 62040 in Granite City is a solid income-producing rental, 12.11% gross yield, $1,161/mo rent, $363/mo net cash flow on a $115,000 buy. DSCR 2.25 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $31,772 and $1,059/yr in principal reduction project a total cumulative return of $67,415.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.1% | 8.0% |
| Monthly Cash Flow | $363 | $300 |
City averages based on Granite City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,161 |
| Total Monthly Debt Service | $752 |
| DSCR Ratio | 1.54x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Multi Family
Built in 1993
0.54 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62040, Granite City, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,293 (100%) |
| Owner Occupied HU | 12,054 (62.5%) |
| Renter Occupied HU | 5,220 (27.1%) |
| Vacant Housing Units | 2,019 (10.5%) |
| Median Home Value | $120,437 |
| Average Home Value | $156,786 |
Housing Distribution
Address Breakdown
Residential
17,538
Single Family
17,136
Multi-Family
402
Businesses
1,080
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
Multi Family
Built in 1993
0.54 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62040, Granite City, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,293 (100%) |
| Owner Occupied HU | 12,054 (62.5%) |
| Renter Occupied HU | 5,220 (27.1%) |
| Vacant Housing Units | 2,019 (10.5%) |
| Median Home Value | $120,437 |
| Average Home Value | $156,786 |
Housing Distribution
Address Breakdown
Residential
17,538
Single Family
17,136
Multi-Family
402
Businesses
1,080
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jenny A Wisniewski • Landmark Realty
Mls Name: MARIS
Mls ID: #26007885