2830 Cranbrook StKankakeeIL60901
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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
Rental property for sale in Kankakee at 2830 Cranbrook St, Kankakee, IL, 60901 priced at $240,000 converts $1,396/mo rent into after a $1,175/mo obligation. Total monthly income equals $1,396/mo. Return on cash invested prints 15.2% in year one, and rental yield reads 6.98% against a $240,000 entry. Equity gained on principal adds $1,549/yr, while 5% annual appreciation compiles into $66,308 by year five. Five-year ROI reaches 78.81% and total cumulative return in cash sums $62,702. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,396/mo property income covering a $1,175/mo payment, not borrower’s personal income.
Multi Family
Built in 1973
10,800 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60901, Kankakee, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,840 (100%) |
| Owner Occupied HU | 8,017 (54.0%) |
| Renter Occupied HU | 5,123 (34.5%) |
| Vacant Housing Units | 1,700 (11.5%) |
| Median Home Value | $164,120 |
| Average Home Value | $210,330 |
Housing Distribution
Address Breakdown
Residential
13,288
Single Family
11,785
Multi-Family
1,503
Businesses
1,130
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Listed by: Jay Tamblyn • McColly Bennett Real Estate
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12173196
Disclaimer: Based on information submitted to the MLS GRID as of 2024-02-07 09:06:36 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_17)