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Markham Illinois DSCR Rental Loan

Address: Markham, Illinois
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $105,000
Appraised Value: $166,000
Loan Amount: $124,500
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Rate Term and Refinance
DSCR: 1.43
Illinois Refinance

Asset Based Lending recently funded a DSCR rental loan in Markham, Illinois with a first-time borrower and real estate investor. The property was purchased for $105,000 with a loan amount of $124,500 and an appraised value of $166,000. This single-family home is a generously sized corner lot without additional taxes. It boasts an expansive lot with a 2.5 car garage and 1 carport. This ranch-style residence showcases an updated kitchen and bath, alongside new A/C, central heating, and plumbing. Conveniently located, it’s a brief drive to major highways, with various shopping options nearby. Markham has seen significant population growth in recent years, making this property an attractive investment opportunity. With a DSCR of 1.43, the borrower is already positively cash-flowing for rental purposes given the home’s affordability and potential for growth.