508 W Grove StBloomingtonIL61701
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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 Bloomington at 508 W Grove St, Bloomington, IL, 61701 uses $38,089 cash to close to unlock $8,141/yr annual cash flow and $678/mo monthly cash flow. Total monthly income runs $1,475/mo, and a $562/mo payment keeps the spread at $678/mo. Purchase price stands at $114,900, and rental yield measures 15.4% with $1,475/mo rent. Return on cash invested shows 41.28% in year one, and 5% annual appreciation builds toward $31,745 over five years. Five-year ROI reaches 218.52% and total cumulative return in cash records $83,234. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,475/mo property income covering a $562/mo payment rather than investor’s personal income.
Single Family
Built in 1905
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61701, Bloomington, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,083 (100%) |
| Owner Occupied HU | 8,783 (48.6%) |
| Renter Occupied HU | 7,539 (41.7%) |
| Vacant Housing Units | 1,761 ( 9.7%) |
| Median Home Value | $155,866 |
| Average Home Value | $191,606 |
Housing Distribution
Address Breakdown
Residential
16,427
Single Family
13,206
Multi-Family
3,221
Businesses
1,378
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Listed by: Caroline Bird • Coldwell Banker Real Estate Group
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12473775