2901 S Michigan Ave APT 1009ChicagoIL60616
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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 Chicago at 2901 S Michigan Ave APT 1009, Chicago, IL, 60616 earns $904/mo cash flow from $2,280/mo rent with a $622/mo payment. Total monthly income totals $2,280/mo, and annual cash flow totals $10,845/yr on $42,100 capital. ROI tracks 45.67% on current figures, and rental yield reads 21.54% at a $126,999 purchase. Equity gained on principal adds $820/yr, and 5% annual appreciation supports $35,087 over five years. Five-year ROI reaches 247.09% and total cumulative return in cash sums $104,025. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,280/mo property income instead of your personal income.
Condo
Built in 1974
N/A lot
$N/A/sqft
$495 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60616, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,617 (100%) |
| Owner Occupied HU | 8,535 (30.9%) |
| Renter Occupied HU | 16,441 (59.5%) |
| Vacant Housing Units | 2,641 ( 9.6%) |
| Median Home Value | $405,780 |
| Average Home Value | $465,159 |
Housing Distribution
Address Breakdown
Residential
23,897
Single Family
6,943
Multi-Family
16,954
Businesses
1,662
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Listed by: Maria Rodriguez DiGioia • eXp Realty, LLC
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12133179
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)