310 S Michigan Ave UNIT 1611ChicagoIL60604
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
Investment Highlights
Rental property for sale in Chicago at 310 S Michigan Ave UNIT 1611, Chicago, IL, 60604 generates $2,236/mo in rent, after a $1,399/mo payment. Total monthly income is $2,236/mo. Return on cash invested sits at 17.95% in year one, and rental yield is 9.39% on a $285,900 entry. Equity gained on principal adds $1,845/yr, while 5% annual appreciation builds toward $78,989 over five years. Five-year ROI reaches 95.22% and total cumulative return in cash sums $90,241. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,236/mo property income rather than buyer’s personal income.
Condo
Built in 1924
N/A lot
$N/A/sqft
$408 monthly 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