777 N Michigan Ave APT 1407ChicagoIL60611
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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
Investment property for sale in Chicago at 777 N Michigan Ave APT 1407, Chicago, IL, 60611 uses $63,980 cash to close to unlock $8,351/yr annual cash flow and $696/mo monthly cash flow. Total monthly income runs $2,492/mo, and a $945/mo payment keeps the spread at $696/mo. Purchase price stands at $193,000, and rental yield measures 15.49% with $2,492/mo rent. Return on cash invested shows 32.96% in year one, and 5% annual appreciation builds toward $53,322 over five years. Five-year ROI reaches 176.92% and total cumulative return in cash records $113,190. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,492/mo property income covering a $945/mo payment rather than investor’s personal income.
Condo
Built in 1968
N/A lot
$N/A/sqft
$457 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60611, Chicago, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 30,898 (100%) |
| Owner Occupied HU | 10,875 (35.2%) |
| Renter Occupied HU | 14,462 (46.8%) |
| Vacant Housing Units | 5,561 (18.0%) |
| Median Home Value | $653,416 |
| Average Home Value | $849,379 |
Housing Distribution
Address Breakdown
Residential
28,622
Single Family
473
Multi-Family
28,149
Businesses
2,018
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Listed by: Nicholas Farnsworth • Coldwell Banker Realty
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12398276
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)