503 Lake AveDowners GroveIL60515
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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 Downers Grove at 503 Lake Ave, Downers Grove, IL, 60515 generates $4,020/mo in rent and, after a $2,202/mo payment, leaves $899/mo in cash flow. Total monthly income is $4,020/mo, and annual cash flow is $10,793/yr on $149,142 invested. Return on cash invested sits at 27.15% in year one, and rental yield is 10.72% on a $449,900 entry. Equity gained on principal adds $2,903/yr, while 5% annual appreciation builds toward $124,299 over five years. Five-year ROI reaches 142.64% and total cumulative return in cash sums $212,734. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,020/mo property income rather than buyer’s personal income.
Single Family
Built in 1958
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60515, Downers Grove, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,633 (100%) |
| Owner Occupied HU | 9,103 (72.1%) |
| Renter Occupied HU | 2,885 (22.8%) |
| Vacant Housing Units | 645 ( 5.1%) |
| Median Home Value | $518,927 |
| Average Home Value | $573,113 |
Housing Distribution
Address Breakdown
Residential
12,238
Single Family
8,757
Multi-Family
3,481
Businesses
1,888
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Listed by: Mary Braatz, ABR,CRS,GRI • RE/MAX Enterprises
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12510664