602 W Cherry StMc LeansboroIL62859
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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 Mc Leansboro at 602 W Cherry St, Mc Leansboro, IL, 62859 uses $51,681 cash to close to unlock $1,616/yr annual cash flow and $135/mo monthly cash flow. Total monthly income runs $1,216/mo, and a $763/mo payment keeps the spread at $135/mo. Purchase price stands at $155,900, and rental yield measures 9.36% with $1,216/mo rent. Return on cash invested shows 23.04% in year one, and 5% annual appreciation builds toward $43,072 over five years. Five-year ROI reaches 120.62% and total cumulative return in cash records $62,338. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,216/mo property income covering a $763/mo payment rather than investor’s personal income.
Single Family
Built in 1950
0.60 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62859, Mc Leansboro, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,374 (100%) |
| Owner Occupied HU | 1,565 (65.9%) |
| Renter Occupied HU | 514 (21.7%) |
| Vacant Housing Units | 295 (12.4%) |
| Median Home Value | $128,272 |
| Average Home Value | $172,645 |
Housing Distribution
Address Breakdown
Residential
2,425
Single Family
2,365
Multi-Family
60
Businesses
218
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Listed by: Allison Gerner • MCCOLLUM REAL ESTATE
Mls Name: MRED as distributed by MLS GRID
Mls ID: #EB460529