405 N Charles StCortlandIL60112
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeMost investment properties struggle to clear the 1.25x DSCR minimum. 405 N Charles St, Cortland, IL, 60112 in Cortland clears it at 1.58, a meaningful distinction for the Ziffy Mortgage DSCR approval process. Rental yield 8.51%. Strong coverage makes approval clean and leaves room for vacancy without breaching underwriting thresholds. Five-year appreciation: $60,782; $2,026/yr in principal equity; total projected return: $86,354.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.5% | 6.0% |
| Monthly Cash Flow | $(166) | $300 |
City averages based on Cortland market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,560 |
| Total Monthly Debt Service | $1,438 |
| DSCR Ratio | 1.08x |
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.
Townhouse
Built in 2006
640 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60112, Cortland, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,721 (100%) |
| Owner Occupied HU | 1,303 (75.7%) |
| Renter Occupied HU | 363 (21.1%) |
| Vacant Housing Units | 55 ( 3.2%) |
| Median Home Value | $197,400 |
| Average Home Value | $220,353 |
Housing Distribution
Address Breakdown
Residential
1,668
Single Family
1,458
Multi-Family
210
Businesses
74
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
Townhouse
Built in 2006
640 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60112, Cortland, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,721 (100%) |
| Owner Occupied HU | 1,303 (75.7%) |
| Renter Occupied HU | 363 (21.1%) |
| Vacant Housing Units | 55 ( 3.2%) |
| Median Home Value | $197,400 |
| Average Home Value | $220,353 |
Housing Distribution
Address Breakdown
Residential
1,668
Single Family
1,458
Multi-Family
210
Businesses
74
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices