474 N Lake Shore Dr APT 2408ChicagoIL60611
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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 Chicago at 474 N Lake Shore Dr APT 2408, Chicago, IL, 60611 generates $2,655/mo in rent, after a $2,178/mo payment. Total monthly income is $2,655/mo. Return on cash invested sits at 16.4% in year one, and rental yield is 7.16% on a $445,000 entry. Equity gained on principal adds $2,872/yr, while 5% annual appreciation builds toward $122,945 over five years. Five-year ROI reaches 85.01% and total cumulative return in cash sums $125,408. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,655/mo property income rather than buyer’s personal income.
Condo
Built in 1991
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60611, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 30,898 (100%) |
| Owner Occupied HU | 10,875 (35.2%) |
| Renter Occupied HU | 14,462 (46.8%) |
| Vacant Housing Units | 5,561 (18.0%) |
| Median Home Value | $653,416 |
| Average Home Value | $849,379 |
Housing Distribution
Address Breakdown
Residential
28,622
Single Family
473
Multi-Family
28,149
Businesses
2,018
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