403 S Washington StJoyIL61260
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowReliable, bankable, and well-priced, 403 S Washington St, Joy, IL, 61260 in Joy delivers $1,384/mo in gross rent and $385/mo in net monthly income at a $144,000 entry. The 11.53% yield and 2.14 DSCR make it a clean candidate for Ziffy Mortgage's DSCR loan; no W-2s or U.S. credit history required. With 5% annual appreciation projecting $39,785 over five years and $1,326/yr in equity from loan paydown, total projected return is $79,818.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.5% | 7.0% |
| Monthly Cash Flow | $385 | $200 |
City averages based on Joy market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,384 |
| Total Monthly Debt Service | $942 |
| DSCR Ratio | 1.47x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1960
0.43 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61260, Joy, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 356 (100%) |
| Owner Occupied HU | 231 (64.9%) |
| Renter Occupied HU | 57 (16.0%) |
| Vacant Housing Units | 68 (19.1%) |
| Median Home Value | $111,990 |
| Average Home Value | $153,604 |
Housing Distribution
Address Breakdown
Residential
196
Single Family
196
Multi-Family
0
Businesses
16
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
Single Family
Built in 1960
0.43 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61260, Joy, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 356 (100%) |
| Owner Occupied HU | 231 (64.9%) |
| Renter Occupied HU | 57 (16.0%) |
| Vacant Housing Units | 68 (19.1%) |
| Median Home Value | $111,990 |
| Average Home Value | $153,604 |
Housing Distribution
Address Breakdown
Residential
196
Single Family
196
Multi-Family
0
Businesses
16
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Billie Pence • RE/MAX Concepts Moline
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #QC4263464
Disclaimer: Based on information submitted to the MLS GRID as of 2025-11-04 21:52:46 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](/mls-disclaimers/#564)