589 W Station StKankakeeIL60901
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 589 W Station St, Kankakee, IL, 60901 in Kankakee deserves attention. This $138,400 property earns $1,708/mo in rent, a 14.81% gross yield, and nets $727/mo after the $622/mo payment. DSCR 2.75 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $38,237 compounds alongside $1,275/yr in yearly equity build, for a total cumulative return of $99,867.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 14.8% | 6.0% |
| Monthly Cash Flow | $727 | $300 |
City averages based on Kankakee market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,708 |
| Total Monthly Debt Service | $926 |
| DSCR Ratio | 1.84x |
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.
Single Family
Built in N/A
3,000 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60901, Kankakee, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,840 (100%) |
| Owner Occupied HU | 8,017 (54.0%) |
| Renter Occupied HU | 5,123 (34.5%) |
| Vacant Housing Units | 1,700 (11.5%) |
| Median Home Value | $164,120 |
| Average Home Value | $210,330 |
Housing Distribution
Address Breakdown
Residential
13,288
Single Family
11,785
Multi-Family
1,503
Businesses
1,130
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
Single Family
Built in N/A
3,000 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60901, Kankakee, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,840 (100%) |
| Owner Occupied HU | 8,017 (54.0%) |
| Renter Occupied HU | 5,123 (34.5%) |
| Vacant Housing Units | 1,700 (11.5%) |
| Median Home Value | $164,120 |
| Average Home Value | $210,330 |
Housing Distribution
Address Breakdown
Residential
13,288
Single Family
11,785
Multi-Family
1,503
Businesses
1,130
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices