702 N Independence AveRockfordIL61101
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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 Rockford at 702 N Independence Ave, Rockford, IL, 61101 offers $840/mo rent that, after a $538/mo payment, leaves $78/mo cash flow. Total monthly income is $840/mo, and annual cash flow is $931/yr on $36,432 cash. Return on cash invested measures 22.47% in year one, and rental yield stands at 9.17% at a $109,900 entry. Equity gained on principal adds $709/yr while 5% annual appreciation compounds into $30,363 by year five. Five-year ROI records 117.57% and total cumulative return in cash reaches $42,832. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $840/mo property income versus a $538/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1947
6,033 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 61101, Rockford, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,216 (100%) |
| Owner Occupied HU | 4,098 (44.5%) |
| Renter Occupied HU | 3,962 (43.0%) |
| Vacant Housing Units | 1,156 (12.5%) |
| Median Home Value | $139,259 |
| Average Home Value | $174,350 |
Housing Distribution
Address Breakdown
Residential
8,359
Single Family
7,351
Multi-Family
1,008
Businesses
575
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