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No similar rental properties found nearby.
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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 Richmond at 8305 N Solon Rd, Richmond, IL, 60071 generates $4,414/mo in rent and, after a $1,940/mo payment, leaves $1,665/mo in cash flow. Total monthly income is $4,414/mo, and annual cash flow is $19,979/yr on $131,373 invested. Return on cash invested sits at 35.12% in year one, and rental yield is 13.37% on a $396,300 entry. Equity gained on principal adds $2,557/yr, while 5% annual appreciation builds toward $109,490 over five years. Five-year ROI reaches 185.36% and total cumulative return in cash sums $243,510. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,414/mo property income rather than buyer’s personal income.
Apartment
Built in 1948
1 Acres lot
$N/A/sqft
No HOA
More details about the property
Neighborhood Data
Neighborhood data shown for ZIP Code: 60071, Richmond, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,809 (100%) |
| Owner Occupied HU | 1,188 (65.7%) |
| Renter Occupied HU | 498 (27.5%) |
| Vacant Housing Units | 123 ( 6.8%) |
| Median Home Value | $370,510 |
| Average Home Value | $400,069 |
Housing Distribution
Address Breakdown
Residential
1,737
Single Family
1,270
Multi-Family
467
Businesses
219
Price History
Date | Event | Price |
|---|---|---|
| 2025-05-15 | Listing removed | $410,000 |
| 2025-04-10 | Price change | $410,000 |
| 2024-05-20 | Price change | $450,000 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-07-17 | $7563.46 | 2.68% | $102,087 | 9.39% |
| 2023-07-17 | $7366.38 | -9.35% | $93,324 | -3.69% |
| 2022-07-17 | $8126.12 | 3.09% | $96,900 | 4.19% |
Nearby investment properties with comparable rents
No similar rental properties found nearby.
Nearby investment properties with comparable prices
No similar price properties found nearby.
Facts & Features
General Information
- Type: Apartment
- Year Built: 1948
- Architectural Style: N/A
- Building Area: N/A
- Living Area: 900 sqft
- Property Condition: N/A
Features & Amenities
- Heating: N/A
- Cooling: None
- Flooring: N/A
- Interior Features: N/A
- Exterior Features: N/A
- Parking Features: Off-street
Location
- City: Richmond
- Subdivision: N/A
- Lot Size: 1 Acres
- Lot Features: N/A
- View: N/A
HOA & Fees
- HOA Fee: N/A
- Association Fee: N/A
- Fees & Dues: N/A
- Association Amenities: N/A
- Association Fee Includes: N/A
Utilities
- Utilities: N/A
- Sewer: N/A
- Water Source: N/A
- Road Surface Type: N/A
School Information
- Elementary School: N/A
- Middle School: N/A
- High School: N/A
Listed by: N/A • N/A
Mls Name:
Mls ID: #N/A