2901 S Michigan Ave APT 908ChicagoIL60616
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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 908, Chicago, IL, 60616 offers a 9.65% rental yield on a $119,995 purchase with $965/mo rent. Total monthly income registers $965/mo, and a $587/mo payment leaves $133/mo available for distribution. Annual cash flow reaches $1,596/yr on $39,778 to close, and return on cash invested stands at 23.92% in year one. Equity gained on principal adds $774/yr while 5% annual appreciation supports $33,152 over five years. Portfolio math shows five-year ROI at 125.48% and total cumulative return in cash at $49,914. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $965/mo property income against a $587/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1980
N/A lot
$N/A/sqft
No 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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