535 N Michigan Ave APT 1508ChicagoIL60611
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 535 N Michigan Ave APT 1508, Chicago, IL, 60611 in Chicago speaks for itself: 14.71% gross on a $258,500 price, generating $3,169/mo in rent and $586/mo in net income after the $1,162/mo debt service. DSCR 2.73, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $7,034 stacks alongside $71,419 in projected five-year appreciation and $2,381/yr in principal reduction. Projected total cumulative return: $140,085.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 14.7% | 6.1% |
| Monthly Cash Flow | $586 | $850 |
City averages based on Chicago market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,169 |
| Total Monthly Debt Service | $2,480 |
| DSCR Ratio | 1.28x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1962
N/A lot
$N/A/sqft
$790 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60611, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 30,898 (100%) |
| Owner Occupied HU | 10,875 (35.2%) |
| Renter Occupied HU | 14,462 (46.8%) |
| Vacant Housing Units | 5,561 (18.0%) |
| Median Home Value | $653,416 |
| Average Home Value | $849,379 |
Housing Distribution
Address Breakdown
Residential
28,622
Single Family
473
Multi-Family
28,149
Businesses
2,018
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1962
N/A lot
$N/A/sqft
$790 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60611, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 30,898 (100%) |
| Owner Occupied HU | 10,875 (35.2%) |
| Renter Occupied HU | 14,462 (46.8%) |
| Vacant Housing Units | 5,561 (18.0%) |
| Median Home Value | $653,416 |
| Average Home Value | $849,379 |
Housing Distribution
Address Breakdown
Residential
28,622
Single Family
473
Multi-Family
28,149
Businesses
2,018
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices