ZIP CODE 60638 // CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI // DATA AS OF 2026-09-30
Chicago, IL (60638) Rental Property Cap Rate & Cash Flow Report
Located in Cook County (Chicago, IL), Zip Code 60638 ranks #350 of 500 within this selected sample (30th percentile) with a Zillow ZHVI typical home-value index of $327,129 (+6.4% YoY) and a ZORI observed market rent of $1,577/mo (+2.0% YoY). Requires at least 65.9% 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
-$950/mo
Annual: -$11,401/yr
Modeled Cap Rate
2.58%
NOI: $8,449/yr
Cash-on-Cash Return
-15.15%
Cash Needed: $75,240
1% Rule Ratio
0.48%
Gross Yield: 5.78%
Break-Even Rent
$2,669/mo
State Tax: 1.95%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 60638 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (IL Avg 1.95%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$1,654/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$873/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (60638)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2024 | $302,587 | $1,456/mo | 5.77% |
| 2025 | $307,558 | $1,546/mo | 6.03% |
| 2026 | $327,129 | $1,577/mo | 5.78% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 60804 Cicero, IL | $278,158 | $1,330/mo | 2.54% | -$817/mo |
| 60625 Chicago, IL | $424,607 | $1,969/mo | 2.39% | -$1,301/mo |
| 60402 Berwyn, IL | $313,681 | $1,448/mo | 2.37% | -$967/mo |
| 60657 Chicago, IL | $546,908 | $2,480/mo | 2.28% | -$1,725/mo |
| 60629 Chicago, IL | $273,942 | $1,404/mo | 2.90% | -$723/mo |
| 60634 Chicago, IL | $379,235 | $1,951/mo | 2.92% | -$994/mo |