851 Washburn StElginIL60123
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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 Elgin at 851 Washburn St, Elgin, IL, 60123 priced at $290,000 converts $2,384/mo rent into $373/mo cash flow after a $1,419/mo obligation. Total monthly income equals $2,384/mo, and annual cash flow totals $4,475/yr on $96,135 invested. Return on cash invested prints 24.56% in year one, and rental yield reads 9.86% against a $290,000 entry. Equity gained on principal adds $1,871/yr, while 5% annual appreciation compiles into $80,122 by year five. Five-year ROI reaches 128.77% and total cumulative return in cash sums $123,796. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,384/mo property income covering a $1,419/mo payment, not borrower’s personal income.
Single Family
Built in 1950
8,700 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60123, Elgin, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,172 (100%) |
| Owner Occupied HU | 11,272 (62.0%) |
| Renter Occupied HU | 6,153 (33.9%) |
| Vacant Housing Units | 747 ( 4.1%) |
| Median Home Value | $269,733 |
| Average Home Value | $313,397 |
Housing Distribution
Address Breakdown
Residential
17,284
Single Family
13,804
Multi-Family
3,480
Businesses
1,463
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