7601 Lincoln Ave APT 511SkokieIL60077
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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 Skokie at 7601 Lincoln Ave APT 511, Skokie, IL, 60077 generates $2,740/mo in rent and, after a $1,395/mo payment, leaves $763/mo in cash flow. Total monthly income is $2,740/mo, and annual cash flow is $9,157/yr on $94,478 invested. Return on cash invested sits at 29.6% in year one, and rental yield is 11.54% on a $285,000 entry. Equity gained on principal adds $1,839/yr, while 5% annual appreciation builds toward $78,740 over five years. Five-year ROI reaches 155.84% and total cumulative return in cash sums $147,234. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,740/mo property income rather than buyer’s personal income.
Condo
Built in 1981
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60077, Skokie, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,412 (100%) |
| Owner Occupied HU | 6,835 (59.9%) |
| Renter Occupied HU | 3,980 (34.9%) |
| Vacant Housing Units | 597 ( 5.2%) |
| Median Home Value | $354,218 |
| Average Home Value | $389,827 |
Housing Distribution
Address Breakdown
Residential
11,210
Single Family
5,188
Multi-Family
6,022
Businesses
1,340
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