423 E Chicago St APT CElginIL60120
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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 Elgin at 423 E Chicago St APT C, Elgin, IL, 60120 offers $1,197/mo rent that, after a $729/mo payment, leaves $164/mo cash flow. Total monthly income is $1,197/mo, and annual cash flow is $1,965/yr on $49,394 cash. Return on cash invested measures 23.89% in year one, and rental yield stands at 9.64% at a $149,000 entry. Equity gained on principal adds $961/yr while 5% annual appreciation compounds into $41,166 by year five. Five-year ROI records 125.17% and total cumulative return in cash reaches $61,828. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,197/mo property income versus a $729/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 1900
N/A 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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