Calculate the Debt Service Coverage Ratio for your Illinois investment property. Pre-loaded with Illinois's average property tax rate (2.23%) and typical landlord insurance costs ($1,500/yr) so your DSCR estimate starts from realistic local baselines.
The full Calculixy DSCR calculator supports LTR and STR modes, NOI breakdown, stress test, cap rate, and cash-on-cash. Enter these Illinois defaults when prompted:
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Illinois has the second-highest effective property tax rate nationally. Cook County (Chicago) rates are particularly high. DSCR investors must model taxes accurately — they frequently exceed 2% in many markets.
| Variable | Illinois | National Average |
|---|---|---|
| Effective property tax rate | 2.23% | ~1.10% |
| Annual landlord insurance | $1,500 | ~$1,500 |
| Monthly insurance (for PITIA) | $125 | ~$125 |
| Avg 2BR monthly rent | $1,350 | ~$1,350 |
| DSCR minimum (most lenders) | 1.00× | 1.00–1.25× |
| Strong DSCR threshold | 1.25×+ | 1.25×+ |
Enter the gross monthly rental income for your Illinois property (use the $1,350 average or your actual market rent), your loan amount and rate, and your actual property taxes and insurance. The calculator computes the DSCR, NOI, and tells you whether the property meets the 1.00× and 1.25× lender thresholds used by most Illinois DSCR loan programs.
For short-term rental (Illinois STR/Airbnb) DSCR: switch to STR mode and enter your projected nightly rate and occupancy rate. Platform fees (typically 3–5%) are applied to rental income only, not cleaning fees.
The effective property tax rate in Illinois averages approximately 2.23% of assessed value annually. On a $300,000 investment property, that's roughly $6,690 per year, or $558 per month added to your PITIA. Tax rates vary by county and municipality within Illinois — always verify the rate for the specific address.
Most DSCR lenders require a minimum ratio of 1.00× (break-even) with 1.25× or higher qualifying for better rates and leverage. In Illinois, accurate property tax modeling is critical because taxes represent a significant share of PITIA. A property that looks cash-flow-positive at 1.05× DSCR with estimated taxes can quickly fall below 1.00× if taxes are underestimated.
No. DSCR loans are non-QM investment property loans that qualify based on the rental property's cash flow, not the borrower's personal income or tax returns. Qualification depends on the property's DSCR ratio, the borrower's credit score (typically 660+ minimum), LTV (usually 75–80% max), and post-closing reserves. This makes DSCR loans particularly useful for Illinois investors with high deductions or multiple LLCs.
Landlord insurance in Illinois averages approximately $1,500 per year ($125/month). This figure varies based on property age, construction type, claims history, and location within the state. Illinois properties may see higher premiums. Always obtain an actual insurance quote before finalizing your DSCR calculation.
Yes. Many DSCR lenders offer dedicated STR programs for Illinois investment properties. STR DSCR is calculated using projected short-term rental income — typically verified through AirDNA market data or platform revenue history — with a 25–40% haircut applied to gross projected income to account for seasonality and vacancy. Illinois STR investors should verify local short-term rental regulations, HOA restrictions, and any county or city licensing requirements before applying.