ZIP CODE 60651 // CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI // DATA AS OF 2026-09-30
Chicago, IL (60651) Rental Property Cap Rate & Cash Flow Report
Located in Cook County (Chicago, IL), Zip Code 60651 ranks #144 of 500 within this selected sample (71th percentile) with a Zillow ZHVI typical home-value index of $284,370 (+7.2% YoY) and a ZORI observed market rent of $1,751/mo (+6.2% YoY). Requires at least 47.5% 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
-$495/mo
Annual: -$5,942/yr
Modeled Cap Rate
3.98%
NOI: $11,313/yr
Cash-on-Cash Return
-9.08%
Cash Needed: $65,405
1% Rule Ratio
0.62%
Gross Yield: 7.39%
Break-Even Rent
$2,320/mo
State Tax: 1.95%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 60651 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (IL Avg 1.95%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$1,438/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$808/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (60651)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $240,917 | $1,222/mo | 6.09% |
| 2022 | $240,459 | $1,313/mo | 6.55% |
| 2023 | $236,636 | $1,435/mo | 7.28% |
| 2024 | $257,322 | $1,509/mo | 7.04% |
| 2025 | $265,330 | $1,649/mo | 7.46% |
| 2026 | $284,370 | $1,751/mo | 7.39% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 60609 Chicago, IL | $263,163 | $1,642/mo | 4.06% | -$439/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 |
| 60640 Chicago, IL | $373,521 | $1,983/mo | 3.09% | -$926/mo |
| 60639 Chicago, IL | $334,063 | $1,740/mo | 2.99% | -$857/mo |
| 60608 Chicago, IL | $367,513 | $1,914/mo | 2.99% | -$944/mo |