Rent report generated Apr 7, 2025
The Rent Potential of
315 Prospect Ave Highland Park, IL
is $4,488 – $6,200/mo.
Rent Advice
This single-family home in Highland Park, IL, offers a strong rental potential with estimated rents ranging from $4,487.50 to $6,200 per month, based on market data for similar properties. The payback period depends on rental income and costs, but the vibrant local market—characterized by rising home values and a rental vacancy rate of 2.9%—favors investment. Property features like three bedrooms, three bathrooms, and a prime location near desirable schools enhance its appeal. Challenges include high property taxes ($14,619 annually) and a competitive market.
To maximize rental value, the owner should consider modernizing the kitchen and bathrooms, enhancing curb appeal, and leveraging the property's Victorian charm. If selling, highlighting its proximity to top schools and recent market growth in Highland Park will attract buyers. For long-term rental, targeting families seeking spacious, high-quality housing could yield consistent returns.
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