6049 S 74th CtSummitIL60501
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderThe headline number at 6049 S 74th Ct, Summit, IL, 60501 in Summit is the 1.52 coverage ratio: rent of $1,860/mo versus a $1,223/mo debt payment on a $271,900 property. Rental yield 7.83%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $75,121 by year five, with $2,504/yr in equity from paydown. Total projected cumulative return: $67,481.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.8% | 8.0% |
| Monthly Cash Flow | $(423) | $1,200 |
City averages based on Summit market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,860 |
| Total Monthly Debt Service | $2,358 |
| DSCR Ratio | 0.79x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1918
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60501, Summit Argo, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,960 (100%) |
| Owner Occupied HU | 1,897 (47.9%) |
| Renter Occupied HU | 1,698 (42.9%) |
| Vacant Housing Units | 365 ( 9.2%) |
| Median Home Value | $246,220 |
| Average Home Value | $290,398 |
Housing Distribution
Address Breakdown
Residential
3,273
Single Family
2,759
Multi-Family
514
Businesses
323
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
Single Family
Built in 1918
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60501, Summit Argo, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,960 (100%) |
| Owner Occupied HU | 1,897 (47.9%) |
| Renter Occupied HU | 1,698 (42.9%) |
| Vacant Housing Units | 365 ( 9.2%) |
| Median Home Value | $246,220 |
| Average Home Value | $290,398 |
Housing Distribution
Address Breakdown
Residential
3,273
Single Family
2,759
Multi-Family
514
Businesses
323
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
