702 W Richland Ave #BEffinghamIL62401
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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 Effingham at 702 W Richland Ave #B, Effingham, IL, 62401 offers $1,080/mo rent that, after a $587/mo payment, leaves $248/mo cash flow. Total monthly income is $1,080/mo, and annual cash flow is $2,976/yr on $39,780 cash. Return on cash invested measures 27.39% in year one, and rental yield stands at 10.8% at a $120,000 entry. Equity gained on principal adds $774/yr while 5% annual appreciation compounds into $33,154 by year five. Five-year ROI records 143.91% and total cumulative return in cash reaches $57,247. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,080/mo property income versus a $587/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1994
3,049 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62401, Effingham, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,202 (100%) |
| Owner Occupied HU | 6,146 (66.8%) |
| Renter Occupied HU | 2,299 (25.0%) |
| Vacant Housing Units | 757 ( 8.2%) |
| Median Home Value | $210,470 |
| Average Home Value | $274,778 |
Housing Distribution
Address Breakdown
Residential
8,722
Single Family
8,101
Multi-Family
621
Businesses
1,297
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