520 Michigan Ave APT 3EEvanstonIL60202
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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 Evanston at 520 Michigan Ave APT 3E, Evanston, IL, 60202 listed at $172,100 pairs $2,124/mo rent with a $842/mo payment to leave $293/mo cash flow. Total monthly income runs $2,124/mo, and annual cash flow reaches $3,517/yr on $57,051 cash to close. Return on cash invested measures 26.07% in year one, and rental yield registers 14.81% at a $172,100 basis. Equity gained on principal adds $1,111/yr, and annual property appreciation at 5% supports $47,548 by year five. Five-year ROI tracks 141.8% and total cumulative return in cash totals $80,900. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,124/mo property income relative to a $842/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1947
0.50 Acres lot
$N/A/sqft
$570 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60202, Evanston, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,152 (100%) |
| Owner Occupied HU | 7,762 (51.2%) |
| Renter Occupied HU | 6,343 (41.9%) |
| Vacant Housing Units | 1,047 ( 6.9%) |
| Median Home Value | $425,814 |
| Average Home Value | $522,888 |
Housing Distribution
Address Breakdown
Residential
14,492
Single Family
5,968
Multi-Family
8,524
Businesses
692
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