ZIP CODE 60609 // CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI // DATA AS OF 2026-09-30
Chicago, IL (60609) Rental Property Cap Rate & Cash Flow Report
Located in Cook County (Chicago, IL), Zip Code 60609 ranks #134 of 500 within this selected sample (73th percentile) with a Zillow ZHVI typical home-value index of $263,163 (+3.6% YoY) and a ZORI observed market rent of $1,642/mo (+4.1% YoY). Requires at least 46.4% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$439/mo
Annual: -$5,274/yr
Modeled Cap Rate
4.06%
NOI: $10,694/yr
Cash-on-Cash Return
-8.71%
Cash Needed: $60,527
1% Rule Ratio
0.62%
Gross Yield: 7.49%
Break-Even Rent
$2,147/mo
State Tax: 1.95%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 60609 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (IL Avg 1.95%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$1,331/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$751/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (60609)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $248,129 | $1,254/mo | 6.06% |
| 2022 | $250,398 | $1,341/mo | 6.43% |
| 2023 | $249,255 | $1,427/mo | 6.87% |
| 2024 | $260,672 | $1,495/mo | 6.88% |
| 2025 | $253,901 | $1,577/mo | 7.45% |
| 2026 | $263,163 | $1,642/mo | 7.49% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 60651 Chicago, IL | $284,370 | $1,751/mo | 3.98% | -$495/mo |
| 60623 Chicago, IL | $227,958 | $1,581/mo | 4.79% | -$243/mo |
| 60632 Chicago, IL | $288,846 | $1,551/mo | 3.16% | -$701/mo |
| 60085 Waukegan, IL | $239,587 | $1,710/mo | 5.00% | -$213/mo |
| 60620 Chicago, IL | $182,454 | $1,305/mo | 5.02% | -$160/mo |
| 60640 Chicago, IL | $373,521 | $1,983/mo | 3.09% | -$926/mo |