7048 Oconnell Dr APT 2EChicago RidgeIL60415
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 7048 Oconnell Dr APT 2E, Chicago Ridge, IL, 60415 in Chicago Ridge at $157,000 earns $1,232/mo in rent and nets $143/mo after the $706/mo payment, a 9.42% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $43,376 over five years. Ziffy Mortgage underwrites this on a 1.75 DSCR without U.S. credit history. With $1,446/yr in principal paydown, total projected return reaches $69,279.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 6.5% |
| Monthly Cash Flow | $143 | $1,500 |
City averages based on Chicago Ridge market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,232 |
| Total Monthly Debt Service | $1,027 |
| DSCR Ratio | 1.20x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1972
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60415, Chicago Ridge, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,877 (100%) |
| Owner Occupied HU | 2,916 (49.6%) |
| Renter Occupied HU | 2,640 (44.9%) |
| Vacant Housing Units | 321 ( 5.5%) |
| Median Home Value | $239,402 |
| Average Home Value | $294,268 |
Housing Distribution
Address Breakdown
Residential
5,819
Single Family
2,127
Multi-Family
3,692
Businesses
505
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1972
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60415, Chicago Ridge, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,877 (100%) |
| Owner Occupied HU | 2,916 (49.6%) |
| Renter Occupied HU | 2,640 (44.9%) |
| Vacant Housing Units | 321 ( 5.5%) |
| Median Home Value | $239,402 |
| Average Home Value | $294,268 |
Housing Distribution
Address Breakdown
Residential
5,819
Single Family
2,127
Multi-Family
3,692
Businesses
505
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kimberly Augustin • Coldwell Banker Realty
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12456971