6 Steele DrGranite CityIL62040
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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 Granite City at 6 Steele Dr, Granite City, IL, 62040 priced at $339,900 converts $1,560/mo rent into after a $1,664/mo obligation. Total monthly income equals $1,560/mo. Return on cash invested prints 11.41% in year one, and rental yield reads 5.51% against a $339,900 entry. Equity gained on principal adds $2,193/yr, while 5% annual appreciation compiles into $93,908 by year five. Five-year ROI reaches 58.3% and total cumulative return in cash sums $65,687. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,560/mo property income covering a $1,664/mo payment, not borrower’s personal income.
Single Family
Built in 2025
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62040, Granite City, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,293 (100%) |
| Owner Occupied HU | 12,054 (62.5%) |
| Renter Occupied HU | 5,220 (27.1%) |
| Vacant Housing Units | 2,019 (10.5%) |
| Median Home Value | $120,437 |
| Average Home Value | $156,786 |
Housing Distribution
Address Breakdown
Residential
17,538
Single Family
17,136
Multi-Family
402
Businesses
1,080
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Listed by: Tami & Zak A Dittamore • RE/MAX Alliance
Mls Name: MARIS
Mls ID: #26001255