303 S Grove StColfaxIL61728
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 303 S Grove St, Colfax, IL, 61728 in Colfax hard to pass up. The 14.8% gross yield on a $114,900 purchase results in $1,417/mo in rent and $620/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.74). Annual cash flow of $7,440, five-year appreciation of $31,745, and $1,058/yr in equity build-up combine for a projected total cumulative return of $83,858.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 14.8% | 7.0% |
| Monthly Cash Flow | $620 | $300 |
City averages based on Colfax market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,417 |
| Total Monthly Debt Service | $751 |
| DSCR Ratio | 1.89x |
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.
Single Family
Built in 1958
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61728, Colfax, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 606 (100%) |
| Owner Occupied HU | 469 (77.4%) |
| Renter Occupied HU | 92 (15.2%) |
| Vacant Housing Units | 45 ( 7.4%) |
| Median Home Value | $164,338 |
| Average Home Value | $211,599 |
Housing Distribution
Address Breakdown
Residential
499
Single Family
499
Multi-Family
0
Businesses
41
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
Single Family
Built in 1958
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61728, Colfax, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 606 (100%) |
| Owner Occupied HU | 469 (77.4%) |
| Renter Occupied HU | 92 (15.2%) |
| Vacant Housing Units | 45 ( 7.4%) |
| Median Home Value | $164,338 |
| Average Home Value | $211,599 |
Housing Distribution
Address Breakdown
Residential
499
Single Family
499
Multi-Family
0
Businesses
41
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices