8713 Drake AveSkokieIL60076
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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 Skokie at 8713 Drake Ave, Skokie, IL, 60076 uses $171,047 cash to close to unlock $3,882/yr annual cash flow and $324/mo monthly cash flow. Total monthly income runs $3,930/mo, and a $2,545/mo payment keeps the spread at $324/mo. Purchase price stands at $519,900, and rental yield measures 9.07% with $3,930/mo rent. Return on cash invested shows 22.33% in year one, and 5% annual appreciation builds toward $143,639 over five years. Five-year ROI reaches 116.79% and total cumulative return in cash records $199,768. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,930/mo property income covering a $2,545/mo payment rather than investor’s personal income.
Single Family
Built in 1955
7,380 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60076, Skokie, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,989 (100%) |
| Owner Occupied HU | 8,721 (72.7%) |
| Renter Occupied HU | 2,682 (22.4%) |
| Vacant Housing Units | 586 ( 4.9%) |
| Median Home Value | $390,819 |
| Average Home Value | $432,471 |
Housing Distribution
Address Breakdown
Residential
11,730
Single Family
9,024
Multi-Family
2,706
Businesses
1,396
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