703 N Grove 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 703 N Grove Ave, Elgin, IL, 60120 with 5% annual appreciation on a $215,000 basis while $2,329/mo rent supports operations. Total monthly income totals $2,329/mo and a $1,052/mo payment preserves $835/mo for cash returns. Annual cash flow comes to $10,016/yr on $71,273 deployed, and return on cash invested reaches 33.96% in year one. Equity gained on principal adds $1,387/yr, and five-year appreciation sums $59,401 alongside rental yield of 13%. Five-year ROI measures 179.23% and total cumulative return in cash totals $127,741.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,329/mo property income versus a $1,052/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1924
3,125 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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Listed by: Jertheus Butts • Realty of America, LLC
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12436886
Disclaimer: Based on information submitted to the MLS GRID as of 2025. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#17)