722 Lenox AveWaukeganIL60085
Nearby investment properties with comparable rents
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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 Waukegan at 722 Lenox Ave, Waukegan, IL, 60085 offers $2,084/mo rent that, after a $759/mo payment, leaves $769/mo cash flow. Total monthly income is $2,084/mo, and annual cash flow is $9,232/yr on $51,383 cash. Return on cash invested measures 37.88% in year one, and rental yield stands at 16.13% at a $155,000 entry. Equity gained on principal adds $1,000/yr while 5% annual appreciation compounds into $42,824 by year five. Five-year ROI records 202.26% and total cumulative return in cash reaches $103,924. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,084/mo property income versus a $759/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1920
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60085, Waukegan, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,314 (100%) |
| Owner Occupied HU | 11,009 (43.5%) |
| Renter Occupied HU | 12,949 (51.2%) |
| Vacant Housing Units | 1,356 ( 5.4%) |
| Median Home Value | $178,326 |
| Average Home Value | $229,648 |
Housing Distribution
Address Breakdown
Residential
23,168
Single Family
15,856
Multi-Family
7,312
Businesses
1,796
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Listed by: Luis Zires, GRI • Charles Rutenberg Realty of IL
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12399744
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. [Click here for more information](/mls-disclaimers/#17)