310 S Michigan Ave UNIT 204ChicagoIL60604
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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 204, Chicago, IL, 60604 uses $213,850 cash to close to unlock $7,955/yr annual cash flow and $663/mo monthly cash flow. Total monthly income runs $5,171/mo, and a $3,181/mo payment keeps the spread at $663/mo. Purchase price stands at $650,000, and rental yield measures 9.55% with $5,171/mo rent. Return on cash invested shows 23.78% in year one, and 5% annual appreciation builds toward $179,583 over five years. Five-year ROI reaches 124.55% and total cumulative return in cash records $266,342. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $5,171/mo property income covering a $3,181/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
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