602 3rd Ave WMilanIL61264
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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 Milan at 602 3rd Ave W, Milan, IL, 61264 uses $34,808 cash to close to unlock $5,275/yr annual cash flow and $440/mo monthly cash flow. Total monthly income runs $1,168/mo, and a $514/mo payment keeps the spread at $440/mo. Purchase price stands at $105,000, and rental yield measures 13.35% with $1,168/mo rent. Return on cash invested shows 35.07% in year one, and 5% annual appreciation builds toward $29,010 over five years. Five-year ROI reaches 185.14% and total cumulative return in cash records $64,442. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,168/mo property income covering a $514/mo payment rather than investor’s personal income.
Single Family
Built in 1945
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61264, Milan, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,802 (100%) |
| Owner Occupied HU | 3,339 (69.5%) |
| Renter Occupied HU | 1,048 (21.8%) |
| Vacant Housing Units | 415 ( 8.6%) |
| Median Home Value | $183,859 |
| Average Home Value | $200,162 |
Housing Distribution
Address Breakdown
Residential
4,785
Single Family
4,379
Multi-Family
406
Businesses
446
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