656 Ford 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
Investment property for sale in Elgin at 656 Ford Ave, Elgin, IL, 60120 offers a 10.15% rental yield on a $255,000 purchase with $2,156/mo rent. Total monthly income registers $2,156/mo, and a $1,248/mo payment leaves $387/mo available for distribution. Annual cash flow reaches $4,648/yr on $84,533 to close, and return on cash invested stands at 25.41% in year one. Equity gained on principal adds $1,645/yr while 5% annual appreciation supports $70,452 over five years. Portfolio math shows five-year ROI at 133.34% and total cumulative return in cash at $112,712. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,156/mo property income against a $1,248/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1950
4,599 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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