515 May StWaukeganIL60085
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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 Waukegan at 515 May St, Waukegan, IL, 60085 offers $2,009/mo rent that, after a $1,174/mo payment, leaves $345/mo cash flow. Total monthly income is $2,009/mo, and annual cash flow is $4,142/yr on $79,527 cash. Return on cash invested measures 25.12% in year one, and rental yield stands at 10.05% at a $239,900 entry. Equity gained on principal adds $1,548/yr while 5% annual appreciation compounds into $66,280 by year five. Five-year ROI records 131.78% and total cumulative return in cash reaches $104,803. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,009/mo property income versus a $1,174/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1915
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60085, Waukegan, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,314 (100%) |
| Owner Occupied HU | 11,009 (43.5%) |
| Renter Occupied HU | 12,949 (51.2%) |
| Vacant Housing Units | 1,356 ( 5.4%) |
| Median Home Value | $178,326 |
| Average Home Value | $229,648 |
Housing Distribution
Address Breakdown
Residential
23,168
Single Family
15,856
Multi-Family
7,312
Businesses
1,796
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