423 E Chicago St #FElginIL60120
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowFew Elgin rentals match the income profile of 423 E Chicago St #F, Elgin, IL, 60120. Listed at $124,000, gross rent is $3,000/mo and net cash flow is $1,915/mo, a 29.03% yield well above national averages. DSCR 5.38 means Ziffy Mortgage can approve your loan on the property's income alone, bypassing personal income verification. The 5% annual appreciation trend adds $34,259 by year five with $1,142/yr in annual principal reduction, projecting $171,614 in total cumulative return.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 29% | 6.5% |
| Monthly Cash Flow | $1,915 | $200 |
City averages based on Elgin market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,000 |
| Total Monthly Debt Service | $1,036 |
| DSCR Ratio | 2.90x |
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.
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
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices