603 7th AveOttawaIL61350
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Ottawa at 603 7th Ave, Ottawa, IL, 61350 priced at $179,000 converts $2,023/mo rent into $702/mo cash flow after a $876/mo obligation. Total monthly income equals $2,023/mo, and annual cash flow totals $8,424/yr on $59,339 invested. Return on cash invested prints 34.11% in year one, and rental yield reads 13.56% against a $179,000 entry. Equity gained on principal adds $1,155/yr, while 5% annual appreciation compiles into $49,454 by year five. Five-year ROI reaches 180.62% and total cumulative return in cash sums $107,175. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,023/mo property income covering a $876/mo payment, not borrower’s personal income.
Single Family
Built in 1968
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61350, Ottawa, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,425 (100%) |
| Owner Occupied HU | 7,230 (63.3%) |
| Renter Occupied HU | 3,166 (27.7%) |
| Vacant Housing Units | 1,029 ( 9.0%) |
| Median Home Value | $173,815 |
| Average Home Value | $219,878 |
Housing Distribution
Address Breakdown
Residential
10,874
Single Family
10,179
Multi-Family
695
Businesses
1,058
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Listed by: Nancy Munoz • RE/MAX 1st Choice
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12260646
Disclaimer: Based on information submitted to the MLS GRID as of 2024-02-07 09:06:36 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_17)