3228 Millrace LnMontgomeryIL60538
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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 Montgomery at 3228 Millrace Ln, Montgomery, IL, 60538 generates $2,520/mo in rent, after a $2,001/mo payment. Total monthly income is $2,520/mo. Return on cash invested sits at 17.11% in year one, and rental yield is 7.4% on a $408,900 entry. Equity gained on principal adds $2,639/yr, while 5% annual appreciation builds toward $112,972 over five years. Five-year ROI reaches 88.85% and total cumulative return in cash sums $120,434. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,520/mo property income rather than buyer’s personal income.
Single Family
Built in 2009
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60538, Montgomery, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,298 (100%) |
| Owner Occupied HU | 8,095 (78.6%) |
| Renter Occupied HU | 1,961 (19.0%) |
| Vacant Housing Units | 242 ( 2.3%) |
| Median Home Value | $261,970 |
| Average Home Value | $273,612 |
Housing Distribution
Address Breakdown
Residential
10,214
Single Family
9,940
Multi-Family
274
Businesses
424
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Listed by: Dale Grischow • RE/MAX Excels
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12504142