500 Redondo Dr APT 409Downers GroveIL60516
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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 Downers Grove at 500 Redondo Dr APT 409, Downers Grove, IL, 60516 offers a 8.54% rental yield on a $235,000 purchase with $1,672/mo rent. Total monthly income registers $1,672/mo, and a $1,150/mo payment leaves $42/mo available for distribution. Annual cash flow reaches $506/yr on $77,903 to close, and return on cash invested stands at 20.56% in year one. Equity gained on principal adds $1,516/yr while 5% annual appreciation supports $64,926 over five years. Portfolio math shows five-year ROI at 107.37% and total cumulative return in cash at $83,644. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,672/mo property income against a $1,150/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1969
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60516, Downers Grove, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,143 (100%) |
| Owner Occupied HU | 9,447 (77.8%) |
| Renter Occupied HU | 2,199 (18.1%) |
| Vacant Housing Units | 497 ( 4.1%) |
| Median Home Value | $445,381 |
| Average Home Value | $482,842 |
Housing Distribution
Address Breakdown
Residential
11,886
Single Family
9,346
Multi-Family
2,540
Businesses
290
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Listed by: Nicole Kowalczyk • HomeSmart Realty Group
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12479718