840 Michigan Ave APT 9EvanstonIL60202
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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 Evanston at 840 Michigan Ave APT 9, Evanston, IL, 60202 offers a 5.73% rental yield on a $503,000 purchase with $2,400/mo rent. 16% in year one. Equity gained on principal adds $3,246/yr while 5% annual appreciation supports $138,970 over five years. Portfolio math shows five-year ROI at 62.29% and total cumulative return in cash at $103,082. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,400/mo property income against a $2,462/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Townhouse
Built in 1985
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60202, Evanston, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,152 (100%) |
| Owner Occupied HU | 7,762 (51.2%) |
| Renter Occupied HU | 6,343 (41.9%) |
| Vacant Housing Units | 1,047 ( 6.9%) |
| Median Home Value | $425,814 |
| Average Home Value | $522,888 |
Housing Distribution
Address Breakdown
Residential
14,492
Single Family
5,968
Multi-Family
8,524
Businesses
692
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