8360 Miami AveMorton GroveIL60053
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
Investment Highlights
Rental property for sale in Morton Grove at 8360 Miami Ave, Morton Grove, IL, 60053 priced at $497,765 converts $3,360/mo rent into after a $2,436/mo obligation. Total monthly income equals $3,360/mo. Return on cash invested prints 16.76% in year one, and rental yield reads 8.1% against a $497,765 entry. Equity gained on principal adds $3,212/yr, while 5% annual appreciation compiles into $137,523 by year five. Five-year ROI reaches 87.82% and total cumulative return in cash sums $144,914. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,360/mo property income covering a $2,436/mo payment, not borrower’s personal income.
Townhouse
Built in 2024
1,071 sqft lot
$N/A/sqft
$341 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60053, Morton Grove, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,084 (100%) |
| Owner Occupied HU | 7,664 (84.4%) |
| Renter Occupied HU | 1,089 (12.0%) |
| Vacant Housing Units | 331 ( 3.6%) |
| Median Home Value | $382,199 |
| Average Home Value | $415,148 |
Housing Distribution
Address Breakdown
Residential
9,375
Single Family
7,715
Multi-Family
1,660
Businesses
692
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Nearby investment properties with comparable prices
Listed by: Nathan Wynsma • Nathan Wynsma
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12152120
Disclaimer: Based on information submitted to the MLS GRID as of 2024-02-07 09:06:36 PST. 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. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_17)