8929 Cherry AveMorton 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
Investment property for sale in Morton Grove at 8929 Cherry Ave, Morton Grove, IL, 60053 uses $174,337 cash to close to unlock $4,261/yr annual cash flow and $355/mo monthly cash flow. Total monthly income runs $4,031/mo, and a $2,594/mo payment keeps the spread at $355/mo. Purchase price stands at $529,900, and rental yield measures 9.13% with $4,031/mo rent. Return on cash invested shows 22.5% in year one, and 5% annual appreciation builds toward $146,402 over five years. Five-year ROI reaches 117.74% and total cumulative return in cash records $205,259. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $4,031/mo property income covering a $2,594/mo payment rather than investor’s personal income.
Single Family
Built in 1960
5,500 sqft 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: Ashraf Memon • Coldwell Banker Realty
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12455643