9221 Drake Ave APT 203EvanstonIL60203
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowFew Evanston rentals match the income profile of 9221 Drake Ave APT 203, Evanston, IL, 60203. Listed at $337,500, gross rent is $4,200/mo and net cash flow is $1,266/mo, a 14.93% yield well above national averages. DSCR 2.77 means Ziffy Mortgage can approve your loan on the property's income alone, bypassing personal income verification. The 5% annual appreciation trend adds $93,245 by year five with $3,108/yr in annual principal reduction, projecting $213,102 in total cumulative return.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 14.9% | 5.0% |
| Monthly Cash Flow | $1,266 | $250 |
City averages based on Evanston market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,200 |
| Total Monthly Debt Service | $2,800 |
| DSCR Ratio | 1.50x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1981
N/A lot
$N/A/sqft
$593 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1981
N/A lot
$N/A/sqft
$593 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Ron Ehlers • Compass
Mls Name: MRED as distributed by MLS GRID
Mls Provider:
Mls ID: #12452636
Disclaimer: Based on information submitted to the MLS GRID as of 2025. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#17)