302 Channel DrIsland LakeIL60042
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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
Investment Highlights
Investment property for sale in Island Lake at 302 Channel Dr, Island Lake, IL, 60042 offers a 8.36% rental yield on a $310,000 purchase with $2,160/mo rent. Total monthly income registers $2,160/mo, and a $1,517/mo payment leaves $10/mo available for distribution. Annual cash flow reaches $121/yr on $102,765 to close, and return on cash invested stands at 20.03% in year one. Equity gained on principal adds $2,000/yr while 5% annual appreciation supports $85,647 over five years. Portfolio math shows five-year ROI at 104.51% and total cumulative return in cash at $107,395. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,160/mo property income against a $1,517/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1976
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60042, Island Lake, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,413 (100%) |
| Owner Occupied HU | 2,735 (80.1%) |
| Renter Occupied HU | 531 (15.6%) |
| Vacant Housing Units | 147 ( 4.3%) |
| Median Home Value | $289,221 |
| Average Home Value | $343,294 |
Housing Distribution
Address Breakdown
Residential
3,352
Single Family
3,352
Multi-Family
0
Businesses
172
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Listed by: Henry B Torn • ListWithFreedom.com
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12553519