311 Summit StElginIL60120
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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 Elgin at 311 Summit St, Elgin, IL, 60120 uses $107,738 cash to close to unlock $4,469/yr annual cash flow and $372/mo monthly cash flow. Total monthly income runs $2,627/mo, and a $1,591/mo payment keeps the spread at $372/mo. Purchase price stands at $325,000, and rental yield measures 9.7% with $2,627/mo rent. Return on cash invested shows 24.06% in year one, and 5% annual appreciation builds toward $89,792 over five years. Five-year ROI reaches 126.1% and total cumulative return in cash records $135,853. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,627/mo property income covering a $1,591/mo payment rather than investor’s personal income.
Single Family
Built in 1934
3,367 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60120, Elgin, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,592 (100%) |
| Owner Occupied HU | 11,032 (62.7%) |
| Renter Occupied HU | 5,766 (32.8%) |
| Vacant Housing Units | 794 ( 4.5%) |
| Median Home Value | $261,990 |
| Average Home Value | $302,997 |
Housing Distribution
Address Breakdown
Residential
16,297
Single Family
14,448
Multi-Family
1,849
Businesses
905
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