540 Michigan Ave APT HGEvanstonIL60202
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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 Evanston at 540 Michigan Ave APT HG, Evanston, IL, 60202 priced at $170,000 pairs $1,349/mo rent with $170/mo cash flow after a $832/mo payment. Total monthly income equals $1,349/mo, and annual cash flow comes to $2,039/yr on $56,355 invested. Return on cash invested is 23.53% in year one, and rental yield stands at 9.52% on a $170,000 basis. Equity gained on principal adds $1,097/yr, and 5% annual appreciation accumulates to $46,968 by year five. Five-year ROI measures 123.22% and total cumulative return in cash reaches $69,441. For financing, Ziffy Mortgage’s DSCR program evaluates $1,349/mo property income against a $832/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 1925
N/A lot
$N/A/sqft
No 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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