7600 W 61st StSummitIL60501
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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 Summit at 7600 W 61st St, Summit, IL, 60501 generates $2,283/mo in rent and, after a $832/mo payment, leaves $1,104/mo in cash flow. Total monthly income is $2,283/mo, and annual cash flow is $13,247/yr on $56,355 invested. Return on cash invested sits at 43.42% in year one, and rental yield is 16.12% on a $170,000 entry. Equity gained on principal adds $1,097/yr, while 5% annual appreciation builds toward $46,968 over five years. Five-year ROI reaches 229.88% and total cumulative return in cash sums $129,549. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,283/mo property income rather than buyer’s personal income.
Multi Family
Built in 1908
7,500 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60501, Summit Argo, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,960 (100%) |
| Owner Occupied HU | 1,897 (47.9%) |
| Renter Occupied HU | 1,698 (42.9%) |
| Vacant Housing Units | 365 ( 9.2%) |
| Median Home Value | $246,220 |
| Average Home Value | $290,398 |
Housing Distribution
Address Breakdown
Residential
3,273
Single Family
2,759
Multi-Family
514
Businesses
323
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