475 S Belmont Ave APT 3ElginIL60123
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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 475 S Belmont Ave APT 3, Elgin, IL, 60123 generates $2,083/mo in rent and, after a $739/mo payment, leaves $786/mo in cash flow. Total monthly income is $2,083/mo, and annual cash flow is $9,428/yr on $50,057 invested. Return on cash invested sits at 38.74% in year one, and rental yield is 16.55% on a $151,000 entry. Equity gained on principal adds $974/yr, while 5% annual appreciation builds toward $41,719 over five years. Five-year ROI reaches 207% and total cumulative return in cash sums $103,616. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,083/mo property income rather than buyer’s personal income.
Condo
Built in 1978
N/A lot
$N/A/sqft
$250 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60123, Elgin, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,172 (100%) |
| Owner Occupied HU | 11,272 (62.0%) |
| Renter Occupied HU | 6,153 (33.9%) |
| Vacant Housing Units | 747 ( 4.1%) |
| Median Home Value | $269,733 |
| Average Home Value | $313,397 |
Housing Distribution
Address Breakdown
Residential
17,284
Single Family
13,804
Multi-Family
3,480
Businesses
1,463
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Listed by: Katie O'Brien • Suburban Life Realty, Ltd
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12383173
Disclaimer: Based on information submitted to the MLS GRID as of 2025. 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](/mls-disclaimers/#17)