311 N Airlite St APT DElginIL60123
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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
Rental property for sale in Elgin at 311 N Airlite St APT D, Elgin, IL, 60123 priced at $235,900 converts $1,883/mo rent into $71/mo cash flow after a $1,155/mo obligation. Total monthly income equals $1,883/mo, and annual cash flow totals $856/yr on $78,201 invested. Return on cash invested prints 21% in year one, and rental yield reads 9.58% against a $235,900 entry. Equity gained on principal adds $1,522/yr, while 5% annual appreciation compiles into $65,175 by year five. Five-year ROI reaches 110.71% and total cumulative return in cash sums $86,579. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,883/mo property income covering a $1,155/mo payment, not borrower’s personal income.
Condo
Built in 1992
N/A lot
$N/A/sqft
$175 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60123, Elgin, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,172 (100%) |
| Owner Occupied HU | 11,272 (62.0%) |
| Renter Occupied HU | 6,153 (33.9%) |
| Vacant Housing Units | 747 ( 4.1%) |
| Median Home Value | $269,733 |
| Average Home Value | $313,397 |
Housing Distribution
Address Breakdown
Residential
17,284
Single Family
13,804
Multi-Family
3,480
Businesses
1,463
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Listed by: Melissa Roder • Royal Service Realty Home Sweet Home
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12184531
Disclaimer: Based on information submitted to the MLS GRID as of 2024-02-07 09:06:36 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_17)