310 S Michigan Ave Unit 1500ChicagoIL60604
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayNot all U.S. investment properties are valued for current income. 310 S Michigan Ave Unit 1500, Chicago, IL, 60604 in Chicago at $1,495,000, 4.71% gross yield, is a market-growth asset. Rental yield 4.71%. The $5,868/mo rent partially funds the $6,722/mo debt service; the core return is the 5%/yr price growth projected to add $413,041 over five years. Ziffy Mortgage's DSCR mortgage (0.87) provides financing for foreign nationals without domestic income checks. A 30–35% down payment often produces the cleanest coverage for low-yield properties. Total five-year return: $282,083.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.7% | 6.1% |
| Monthly Cash Flow | $(7,750) | $850 |
City averages based on Chicago market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $5,868 |
| Total Monthly Debt Service | $9,775 |
| DSCR Ratio | 0.60x |
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 1924
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60604, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 613 (100%) |
| Owner Occupied HU | 195 (31.8%) |
| Renter Occupied HU | 301 (49.1%) |
| Vacant Housing Units | 117 (19.1%) |
| Median Home Value | $658,088 |
| Average Home Value | $828,705 |
Housing Distribution
Address Breakdown
Residential
628
Single Family
0
Multi-Family
628
Businesses
1,006
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 1924
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60604, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 613 (100%) |
| Owner Occupied HU | 195 (31.8%) |
| Renter Occupied HU | 301 (49.1%) |
| Vacant Housing Units | 117 (19.1%) |
| Median Home Value | $658,088 |
| Average Home Value | $828,705 |
Housing Distribution
Address Breakdown
Residential
628
Single Family
0
Multi-Family
628
Businesses
1,006
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices