3115 S Michigan Ave APT 503ChicagoIL60616
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 3115 S Michigan Ave APT 503, Chicago, IL, 60616 listed at $267,000 pairs $1,907/mo rent with a $1,307/mo payment to leave $55/mo cash flow. Total monthly income runs $1,907/mo, and annual cash flow reaches $658/yr on $88,511 cash to close. Return on cash invested measures 20.65% in year one, and rental yield registers 8.57% at a $267,000 basis. Equity gained on principal adds $1,723/yr, and annual property appreciation at 5% supports $73,767 by year five. Five-year ROI tracks 107.81% and total cumulative return in cash totals $95,419. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,907/mo property income relative to a $1,307/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2000
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60616, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,617 (100%) |
| Owner Occupied HU | 8,535 (30.9%) |
| Renter Occupied HU | 16,441 (59.5%) |
| Vacant Housing Units | 2,641 ( 9.6%) |
| Median Home Value | $405,780 |
| Average Home Value | $465,159 |
Housing Distribution
Address Breakdown
Residential
23,897
Single Family
6,943
Multi-Family
16,954
Businesses
1,662
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices