628 E Locust StLanarkIL61046
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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 Lanark at 628 E Locust St, Lanark, IL, 61046 generates $1,078/mo in rent and, after a $678/mo payment, leaves $117/mo in cash flow. Total monthly income is $1,078/mo, and annual cash flow is $1,407/yr on $45,913 invested. Return on cash invested sits at 22.97% in year one, and rental yield is 9.34% on a $138,500 entry. Equity gained on principal adds $894/yr, while 5% annual appreciation builds toward $38,265 over five years. Five-year ROI reaches 120.35% and total cumulative return in cash sums $55,255. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,078/mo property income rather than buyer’s personal income.
Single Family
Built in 1858
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61046, Lanark, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,063 (100%) |
| Owner Occupied HU | 1,036 (50.2%) |
| Renter Occupied HU | 234 (11.3%) |
| Vacant Housing Units | 793 (38.4%) |
| Median Home Value | $169,063 |
| Average Home Value | $234,614 |
Housing Distribution
Address Breakdown
Residential
1,478
Single Family
1,462
Multi-Family
16
Businesses
83
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Listed by: THOMAS MILLER • Fawn Ridge Real Estate Co.
Mls Name: NorthWest Illinois Alliance of REALTORS
Mls Provider:
Mls ID: #202505442
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.