310 S Michigan Ave Unit 1907ChicagoIL60604
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
Investment property for sale in Chicago at 310 S Michigan Ave Unit 1907, Chicago, IL, 60604 uses $162,104 cash to close to unlock $11,143/yr annual cash flow and $929/mo monthly cash flow. Total monthly income runs $4,320/mo, and a $2,393/mo payment keeps the spread at $929/mo. Purchase price stands at $489,000, and rental yield measures 10.6% with $4,320/mo rent. Return on cash invested shows 26.78% in year one, and 5% annual appreciation builds toward $135,102 over five years. Five-year ROI reaches 140.69% and total cumulative return in cash records $228,058. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $4,320/mo property income covering a $2,393/mo payment rather than investor’s personal income.
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