7616 W Lawrence Ave UNIT 3AHarwood HeightsIL60706
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 7616 W Lawrence Ave UNIT 3A, Harwood Heights, IL, 60706 in Harwood Heights worth modelling. At $223,500 with a 8.64% gross yield, the $1,609/mo rent leaves $59/mo after the $1,005/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.60 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $61,749 by year five; $2,058/yr in principal reduction adds further equity. Total projected return: $89,268.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 7.0% |
| Monthly Cash Flow | $59 | $400 |
City averages based on Harwood Heights market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,609 |
| Total Monthly Debt Service | $1,461 |
| DSCR Ratio | 1.10x |
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 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60706, Harwood Heights, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,776 (100%) |
| Owner Occupied HU | 6,886 (70.4%) |
| Renter Occupied HU | 2,426 (24.8%) |
| Vacant Housing Units | 464 ( 4.7%) |
| Median Home Value | $360,180 |
| Average Home Value | $400,649 |
Housing Distribution
Address Breakdown
Residential
9,585
Single Family
7,225
Multi-Family
2,360
Businesses
618
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 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60706, Harwood Heights, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,776 (100%) |
| Owner Occupied HU | 6,886 (70.4%) |
| Renter Occupied HU | 2,426 (24.8%) |
| Vacant Housing Units | 464 ( 4.7%) |
| Median Home Value | $360,180 |
| Average Home Value | $400,649 |
Housing Distribution
Address Breakdown
Residential
9,585
Single Family
7,225
Multi-Family
2,360
Businesses
618
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Nicole Hajdu, ABR,BPOR,E-PRO,GRI,SFR • Baird & Warner
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12481004