7048 Oconnell Dr APT 3WChicago RidgeIL60415
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
Investment Highlights
Investment property for sale in Chicago Ridge at 7048 Oconnell Dr APT 3W, Chicago Ridge, IL, 60415 uses $54,664 cash to close to unlock $1,876/yr annual cash flow and $156/mo monthly cash flow. Total monthly income runs $1,300/mo, and a $807/mo payment keeps the spread at $156/mo. Purchase price stands at $164,900, and rental yield measures 9.46% with $1,300/mo rent. Return on cash invested shows 23.34% in year one, and 5% annual appreciation builds toward $45,559 over five years. Five-year ROI reaches 122.3% and total cumulative return in cash records $66,856. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,300/mo property income covering a $807/mo payment rather than investor’s personal income.
Condo
Built in 1971
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: Kamal Salah • Better Homes & Gardens Real Estate
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12447838