3022 S Homan AveChicagoIL60623
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowFew Chicago rentals match the income profile of 3022 S Homan Ave, Chicago, IL, 60623. Listed at $274,999, gross rent is $2,426/mo and net cash flow is $519/mo, a 10.59% yield well above national averages. DSCR 1.96 means Ziffy Mortgage can approve your loan on the property's income alone, bypassing personal income verification. The 5% annual appreciation trend adds $75,977 by year five with $2,533/yr in annual principal reduction, projecting $138,542 in total cumulative return.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.6% | 6.1% |
| Monthly Cash Flow | $519 | $850 |
City averages based on Chicago market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,426 |
| Total Monthly Debt Service | $1,798 |
| DSCR Ratio | 1.35x |
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.
Multi Family
Built in 1908
3,125 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60623, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 31,760 (100%) |
| Owner Occupied HU | 9,106 (28.7%) |
| Renter Occupied HU | 18,918 (59.6%) |
| Vacant Housing Units | 3,736 (11.8%) |
| Median Home Value | $246,210 |
| Average Home Value | $270,307 |
Housing Distribution
Address Breakdown
Residential
18,318
Single Family
12,903
Multi-Family
5,415
Businesses
1,637
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
Multi Family
Built in 1908
3,125 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60623, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 31,760 (100%) |
| Owner Occupied HU | 9,106 (28.7%) |
| Renter Occupied HU | 18,918 (59.6%) |
| Vacant Housing Units | 3,736 (11.8%) |
| Median Home Value | $246,210 |
| Average Home Value | $270,307 |
Housing Distribution
Address Breakdown
Residential
18,318
Single Family
12,903
Multi-Family
5,415
Businesses
1,637
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices