524 Michigan Ave APT 3NEvanstonIL60202
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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 524 Michigan Ave APT 3N, Evanston, IL, 60202 earns $386/mo cash flow from $2,137/mo rent with a $930/mo payment. Total monthly income totals $2,137/mo, and annual cash flow totals $4,633/yr on $62,985 capital. ROI tracks 27.26% on current figures, and rental yield reads 13.5% at a $190,000 purchase. Equity gained on principal adds $1,226/yr, and 5% annual appreciation supports $52,494 over five years. Five-year ROI reaches 146.32% and total cumulative return in cash sums $92,160. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,137/mo property income instead of your personal income.
Condo
Built in 1940
N/A lot
$N/A/sqft
$433 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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Listed by: Katrina de los Reyes • Berkshire Hathaway HomeServices Chicago
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12379462
Disclaimer: Based on information submitted to the MLS GRID as of 2025. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#17)