31-60 Wakonda DrLanarkIL61046
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 31-60 Wakonda Dr, Lanark, IL, 61046 in Lanark hard to pass up. The 11.79% gross yield on a $253,000 purchase results in $2,485/mo in rent and $503/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.18). Annual cash flow of $6,031, five-year appreciation of $69,899, and $2,330/yr in equity build-up combine for a projected total cumulative return of $130,071.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.8% | 6.0% |
| Monthly Cash Flow | $503 | $300 |
City averages based on Lanark market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,485 |
| Total Monthly Debt Service | $1,882 |
| DSCR Ratio | 1.32x |
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 1990
1.09 Acres lot
$N/A/sqft
$2,685 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61046, Lanark, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,063 (100%) |
| Owner Occupied HU | 1,036 (50.2%) |
| Renter Occupied HU | 234 (11.3%) |
| Vacant Housing Units | 793 (38.4%) |
| Median Home Value | $169,063 |
| Average Home Value | $234,614 |
Housing Distribution
Address Breakdown
Residential
1,478
Single Family
1,462
Multi-Family
16
Businesses
83
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 1990
1.09 Acres lot
$N/A/sqft
$2,685 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61046, Lanark, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,063 (100%) |
| Owner Occupied HU | 1,036 (50.2%) |
| Renter Occupied HU | 234 (11.3%) |
| Vacant Housing Units | 793 (38.4%) |
| Median Home Value | $169,063 |
| Average Home Value | $234,614 |
Housing Distribution
Address Breakdown
Residential
1,478
Single Family
1,462
Multi-Family
16
Businesses
83
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: THOMAS MILLER • Lake Carroll Realty Inc.
Mls Name: NorthWest Illinois Alliance of REALTORS
Mls Provider:
Mls ID: #202406855
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.