6020 Lincoln Ave UNIT 407Morton GroveIL60053
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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 Morton Grove at 6020 Lincoln Ave UNIT 407, Morton Grove, IL, 60053 uses $74,554 cash to close to unlock $310/yr annual cash flow and $26/mo monthly cash flow. Total monthly income runs $1,586/mo, and a $1,101/mo payment keeps the spread at $26/mo. Purchase price stands at $224,900, and rental yield measures 8.46% with $1,586/mo rent. Return on cash invested shows 20.32% in year one, and 5% annual appreciation builds toward $62,136 over five years. Five-year ROI reaches 106.06% and total cumulative return in cash records $79,069. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,586/mo property income covering a $1,101/mo payment rather than investor’s personal income.
Condo
Built in 1972
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60053, Morton Grove, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,084 (100%) |
| Owner Occupied HU | 7,664 (84.4%) |
| Renter Occupied HU | 1,089 (12.0%) |
| Vacant Housing Units | 331 ( 3.6%) |
| Median Home Value | $382,199 |
| Average Home Value | $415,148 |
Housing Distribution
Address Breakdown
Residential
9,375
Single Family
7,715
Multi-Family
1,660
Businesses
692
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Listed by: Patrick Shino • Fulton Grace Realty
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12464710