609 N Iris CtWest PeoriaIL61604
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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
Rental property for sale in West Peoria at 609 N Iris Ct, West Peoria, IL, 61604 priced at $124,900 converts $1,480/mo rent into $614/mo cash flow after a $611/mo obligation. Total monthly income equals $1,480/mo, and annual cash flow totals $7,368/yr on $41,404 invested. Return on cash invested prints 37.7% in year one, and rental yield reads 14.22% against a $124,900 entry. Equity gained on principal adds $806/yr, while 5% annual appreciation compiles into $34,508 by year five. Five-year ROI reaches 199.22% and total cumulative return in cash sums $82,486. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,480/mo property income covering a $611/mo payment, not borrower’s personal income.
Single Family
Built in 1940
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61604, Peoria, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,182 (100%) |
| Owner Occupied HU | 7,911 (55.8%) |
| Renter Occupied HU | 4,547 (32.1%) |
| Vacant Housing Units | 1,724 (12.2%) |
| Median Home Value | $105,578 |
| Average Home Value | $135,191 |
Housing Distribution
Address Breakdown
Residential
12,779
Single Family
11,446
Multi-Family
1,333
Businesses
549
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Listed by: Adam J Merrick • Adam Merrick Real Estate
Mls Name: RMLS Alliance
Mls ID: #PA1260303