423 E Chicago St #FElginIL60120
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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
Investment property for sale in Elgin at 423 E Chicago St #F, Elgin, IL, 60120 with 5% annual appreciation on a $124,000 basis while $3,000/mo rent supports operations. Total monthly income totals $3,000/mo and a $607/mo payment preserves $1,915/mo for cash returns. Annual cash flow comes to $22,978/yr on $41,106 deployed, and return on cash invested reaches 75.81% in year one. Equity gained on principal adds $800/yr, and five-year appreciation sums $34,259 alongside rental yield of 29.03%. Five-year ROI measures 405.99% and total cumulative return in cash totals $166,887.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $3,000/mo property income versus a $607/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Condo
Built in 1900
N/A lot
$N/A/sqft
$225 monthly 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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Listed by: Rich Wolnik • Jason Mitchell Real Estate IL
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12188443
Disclaimer: Based on information submitted to the MLS GRID as of 2024-02-07 09:06:36 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](/info/mls-disclaimers/#mls_17)