3041 S Michigan Ave UNIT 104ChicagoIL60616
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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 3041 S Michigan Ave UNIT 104, Chicago, IL, 60616 earns $55/mo cash flow from $1,442/mo rent with a $979/mo payment. Total monthly income totals $1,442/mo, and annual cash flow totals $656/yr on $66,300 capital. ROI tracks 20.9% on current figures, and rental yield reads 8.65% at a $200,000 purchase. Equity gained on principal adds $1,291/yr, and 5% annual appreciation supports $55,256 over five years. Five-year ROI reaches 109.15% and total cumulative return in cash sums $72,368. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,442/mo property income instead of your personal income.
Condo
Built in 1965
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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