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.
