8650 Ferris Ave UNIT 505Morton GroveIL60053
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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 Morton Grove at 8650 Ferris Ave UNIT 505, Morton Grove, IL, 60053 generates $1,397/mo in rent, after a $1,003/mo payment. Total monthly income is $1,397/mo. Return on cash invested sits at 19.48% in year one, and rental yield is 8.18% on a $205,000 entry. Equity gained on principal adds $1,323/yr, while 5% annual appreciation builds toward $56,638 over five years. Five-year ROI reaches 101.54% and total cumulative return in cash sums $69,006. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,397/mo property income rather than buyer’s personal income.
Condo
Built in 1973
N/A lot
$N/A/sqft
No 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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Listed by: Holly Wolack • @properties Christie's International Real Estate
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12427997