7234 W North Ave APT 1802Elmwood ParkIL60707
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe headline number at 7234 W North Ave APT 1802, Elmwood Park, IL, 60707 in Elmwood Park is the 1.84 coverage ratio: rent of $2,231/mo versus a $1,210/mo debt payment on a $269,000 property. Rental yield 9.95%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $74,320 by year five, with $2,478/yr in equity from paydown. Total projected cumulative return: $126,361.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10% | 6.0% |
| Monthly Cash Flow | $(271) | $300 |
City averages based on Elmwood Park market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,231 |
| Total Monthly Debt Service | $1,759 |
| DSCR Ratio | 1.27x |
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 N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60707, Elmwood Park, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,103 (100%) |
| Owner Occupied HU | 10,714 (62.6%) |
| Renter Occupied HU | 5,452 (31.9%) |
| Vacant Housing Units | 937 ( 5.5%) |
| Median Home Value | $338,856 |
| Average Home Value | $357,155 |
Housing Distribution
Address Breakdown
Residential
16,178
Single Family
10,741
Multi-Family
5,437
Businesses
689
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 N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60707, Elmwood Park, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,103 (100%) |
| Owner Occupied HU | 10,714 (62.6%) |
| Renter Occupied HU | 5,452 (31.9%) |
| Vacant Housing Units | 937 ( 5.5%) |
| Median Home Value | $338,856 |
| Average Home Value | $357,155 |
Housing Distribution
Address Breakdown
Residential
16,178
Single Family
10,741
Multi-Family
5,437
Businesses
689
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Karolina Bak • KOMAR
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12563128