6 N Michigan Ave #1202ChicagoIL60602
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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 Chicago at 6 N Michigan Ave #1202, Chicago, IL, 60602 uses $174,896 cash to close to unlock $1,348/yr annual cash flow and $112/mo monthly cash flow. Total monthly income runs $4,919/mo, and a $2,602/mo payment keeps the spread at $112/mo. Purchase price stands at $531,600, and rental yield measures 11.1% with $4,919/mo rent. Return on cash invested shows 20.83% in year one, and 5% annual appreciation builds toward $146,871 over five years. Five-year ROI reaches 111.54% and total cumulative return in cash records $195,077. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $4,919/mo property income covering a $2,602/mo payment rather than investor’s personal income.
Condo
Built in 2015
0.31 Acres lot
$N/A/sqft
$1,036 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60602, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,587 (100%) |
| Owner Occupied HU | 398 (25.1%) |
| Renter Occupied HU | 786 (49.5%) |
| Vacant Housing Units | 403 (25.4%) |
| Median Home Value | $1,289,855 |
| Average Home Value | $1,320,917 |
Housing Distribution
Address Breakdown
Residential
820
Single Family
1
Multi-Family
819
Businesses
1,880
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