6 N Michigan Ave UNIT 1505ChicagoIL60602
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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 UNIT 1505, Chicago, IL, 60602 earns $513/mo cash flow from $2,732/mo rent with a $1,566/mo payment. Total monthly income totals $2,732/mo, and annual cash flow totals $6,152/yr on $106,080 capital. ROI tracks 25.71% on current figures, and rental yield reads 10.24% at a $320,000 purchase. Equity gained on principal adds $2,065/yr, and 5% annual appreciation supports $88,410 over five years. Five-year ROI reaches 134.93% and total cumulative return in cash sums $143,139. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,732/mo property income instead of your personal income.
Condo
Built in 1895
N/A lot
$N/A/sqft
No 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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