614 Illinois AveElginIL60120
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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 Elgin at 614 Illinois Ave, Elgin, IL, 60120 generates $1,602/mo in rent and, after a $1,101/mo payment, leaves $42/mo in cash flow. Total monthly income is $1,602/mo, and annual cash flow is $502/yr on $74,554 invested. Return on cash invested sits at 20.58% in year one, and rental yield is 8.55% on a $224,900 entry. Equity gained on principal adds $1,451/yr, while 5% annual appreciation builds toward $62,136 over five years. Five-year ROI reaches 107.42% and total cumulative return in cash sums $80,089. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,602/mo property income rather than buyer’s personal income.
Single Family
Built in 1945
6,908 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60120, Elgin, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,592 (100%) |
| Owner Occupied HU | 11,032 (62.7%) |
| Renter Occupied HU | 5,766 (32.8%) |
| Vacant Housing Units | 794 ( 4.5%) |
| Median Home Value | $261,990 |
| Average Home Value | $302,997 |
Housing Distribution
Address Breakdown
Residential
16,297
Single Family
14,448
Multi-Family
1,849
Businesses
905
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