309 Steeplechase Cir #309BourbonnaisIL60914
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingReliable and efficiently structured, 309 Steeplechase Cir #309, Bourbonnais, IL, 60914 in Bourbonnais is a conservative rental investment at $259,900. Rental yield 6.37%. A 1.18 coverage ratio meets Ziffy Mortgage's DSCR standard for foreign-national financing. Five-year equity: 5% appreciation adds $71,806; $2,394/yr in principal paydown supplements. Total projected return: $72,204.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.4% | 6.0% |
| Monthly Cash Flow | $(788) | $300 |
City averages based on Bourbonnais market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,380 |
| Total Monthly Debt Service | $1,699 |
| DSCR Ratio | 0.81x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 1998
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60914, Bourbonnais, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,142 (100%) |
| Owner Occupied HU | 7,435 (66.7%) |
| Renter Occupied HU | 2,976 (26.7%) |
| Vacant Housing Units | 731 ( 6.6%) |
| Median Home Value | $234,333 |
| Average Home Value | $255,617 |
Housing Distribution
Address Breakdown
Residential
11,025
Single Family
10,552
Multi-Family
473
Businesses
797
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
Condo
Built in 1998
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60914, Bourbonnais, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,142 (100%) |
| Owner Occupied HU | 7,435 (66.7%) |
| Renter Occupied HU | 2,976 (26.7%) |
| Vacant Housing Units | 731 ( 6.6%) |
| Median Home Value | $234,333 |
| Average Home Value | $255,617 |
Housing Distribution
Address Breakdown
Residential
11,025
Single Family
10,552
Multi-Family
473
Businesses
797
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Dawn Olson • McColly Real Estate
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12551666