2901 S Michigan Ave APT 1009ChicagoIL60616
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 2901 S Michigan Ave APT 1009, Chicago, IL, 60616 in Chicago. Priced at $126,999, it generates $2,280/mo in gross rent and $904/mo in net monthly cash flow, a 21.54% yield that comfortably supports the 3.99 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $10,849. Five-year appreciation: $35,087. Equity from principal paydown: $1,170/yr. Total projected cumulative return: $108,915.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 21.5% | 6.1% |
| Monthly Cash Flow | $904 | $850 |
City averages based on Chicago market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,280 |
| Total Monthly Debt Service | $1,325 |
| DSCR Ratio | 1.72x |
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.
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
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices