3000 Western AveMattoonIL61938
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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 Mattoon at 3000 Western Ave, Mattoon, IL, 61938 priced at $379,000 converts $3,000/mo rent into $371/mo cash flow after a $1,855/mo obligation. Total monthly income equals $3,000/mo, and annual cash flow totals $4,454/yr on $125,639 invested. Return on cash invested prints 23.45% in year one, and rental yield reads 9.5% against a $379,000 entry. Equity gained on principal adds $2,446/yr, while 5% annual appreciation compiles into $104,711 by year five. Five-year ROI reaches 122.87% and total cumulative return in cash sums $154,367. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,000/mo property income covering a $1,855/mo payment, not borrower’s personal income.
Single Family
Built in 1887
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61938, Mattoon, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,452 (100%) |
| Owner Occupied HU | 5,908 (56.5%) |
| Renter Occupied HU | 3,244 (31.0%) |
| Vacant Housing Units | 1,300 (12.4%) |
| Median Home Value | $120,975 |
| Average Home Value | $155,596 |
Housing Distribution
Address Breakdown
Residential
9,742
Single Family
9,027
Multi-Family
715
Businesses
936
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