3076 Louise Ln · Springfield, IL 62702

$149,900

5 bd · 2.0 ba · 1,437 sqft · Other · 13 Days on market

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ranch style home situated on the Northend. The interior offers a living room, kitchen, formal dining room, den, 3 bedrooms, 1 bath and a laundry room. There is a middle room between 2 of the bedrooms that could be used at whatever fits your needs. Other amenities include a 2c detached garage and fenced backyard. SOLD AS IS - WHERE IS.

Key facts

• 2 garage spots
• Listed 13 days

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Living area reported as 1437 (building area total 1437); Not new construction
• Construction: Shingle roof; Year built not specified
• Exterior features: Fenced yard; Cul-de-sac lot

Interior

• Kitchen: Kitchen with laminate flooring
• Bedrooms: 5 bedrooms; Bedrooms on main level (several bedrooms listed as Main level); Egress windows in multiple bedrooms
• Flooring: Carpet in many bedrooms; Laminate in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: No basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.6% vs local median 4.9% in Springfield — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#122 in IL, #2,138 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F.
• Springfield SD 186 (urban): math 17% / reading 22% proficiency, ranked #438 of 620 in IL (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.0%/yr); 131 active listings in the ZIP; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).
• This rent runs 40% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Sangamon County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $77k; list at $150k implies a 95% gain — meaningful room to come down on a strong offer.

Recommended offer $149,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.95% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-2,382
• Equity at exit: $22,351

10-year hold

• IRR: 10.3%
• Equity multiple: 1.87×
• Total profit: $36,484
• Equity at exit: $12,961

Cash invested: $41,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62702

• Home prices YoY: -34.9%
• Rents YoY: 5.0%
• Active inventory: 131
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,714 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$216 /mo · $2,595/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $289

Break-even live

Break-even rent $1,348

Max offer price $149,900

Occupancy floor 78%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-09
   status $149,900 Pending 13 DOM
2. 2026-06-08
   days on market $149,900 Active 13 DOM
3. 2026-06-07
   days on market $149,900 Active 12 DOM
4. 2026-06-05
   days on market $149,900 Active 9 DOM
5. 2026-06-03
   days on market $149,900 Active 8 DOM
6. 2026-06-02
   days on market $149,900 Active 7 DOM
7. 2026-06-01
   days on market $149,900 Active 6 DOM
8. 2026-05-31
   days on market $149,900 Active 5 DOM
9. 2026-05-30
   status $149,900 Active 4 DOM
10. 2026-05-24
    listed $149,900 Active
11. 2025-10-03
    soldstatus $77,000 Closed 337-char remark

    Show marketing remark (337 chars)

    Ranch style home situated on the Northend. The interior offers a living room, kitchen, formal dining room, den, 3 bedrooms, 1 bath and a laundry room. There is a middle room between 2 of the bedrooms that could be used at whatever fits your needs. Other amenities include a 2c detached garage and fenced backyard. SOLD AS IS - WHERE IS.

12. 2025-10-03
    soldstatus $77,000 337-char remark

    Show marketing remark (337 chars)

    Ranch style home situated on the Northend. The interior offers a living room, kitchen, formal dining room, den, 3 bedrooms, 1 bath and a laundry room. There is a middle room between 2 of the bedrooms that could be used at whatever fits your needs. Other amenities include a 2c detached garage and fenced backyard. SOLD AS IS - WHERE IS.

13. 2025-08-13
    status Pending 337-char remark

    Show marketing remark (337 chars)

    Ranch style home situated on the Northend. The interior offers a living room, kitchen, formal dining room, den, 3 bedrooms, 1 bath and a laundry room. There is a middle room between 2 of the bedrooms that could be used at whatever fits your needs. Other amenities include a 2c detached garage and fenced backyard. SOLD AS IS - WHERE IS.

14. 2025-08-01
    listed $69,900 Active 337-char remark

    Show marketing remark (337 chars)

    Ranch style home situated on the Northend. The interior offers a living room, kitchen, formal dining room, den, 3 bedrooms, 1 bath and a laundry room. There is a middle room between 2 of the bedrooms that could be used at whatever fits your needs. Other amenities include a 2c detached garage and fenced backyard. SOLD AS IS - WHERE IS.

15. 2025-08-01
    listed $69,900 337-char remark

    Show marketing remark (337 chars)

    Ranch style home situated on the Northend. The interior offers a living room, kitchen, formal dining room, den, 3 bedrooms, 1 bath and a laundry room. There is a middle room between 2 of the bedrooms that could be used at whatever fits your needs. Other amenities include a 2c detached garage and fenced backyard. SOLD AS IS - WHERE IS.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $2,595 · $216/mo
• Projected year-2 tax: $2,999 · $250/mo
• Expected delta: +$404/yr (+$34/mo · 15.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,571
• − Mortgage interest: −$8,397
• − Property taxes: −$2,595
• − Insurance: −$750
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − Depreciation: −$4,361
• Taxable income: $1,178
• Est. tax owed @ 24.0%: −$283
• After-tax cash flow: $3,191/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Springfield SD 186
• NCES district ID: 1737080
• Math proficiency: 17% ▼ -7.00%
• Reading proficiency: 22% ▼ -5.00%
• Median HH income: $43,744
• Composite: 16.89/100
• National rank: #9142
• State rank: #438 of 620 in IL

Livability — Springfield

• Score: 79/100
• State rank: #122
• US rank: #2138

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, IL
• County: Sangamon County · 115,414 people
• City population: 59,955
• Metro: Springfield, IL
• Population (ZIP): 31,033
• Household income: $51,136
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1230.0

Population outlook (Sangamon County) Hauer SSP2

• Today (2025): 198,317 people
• By 2030: 196,127 · -1.1%
• By 2040: 188,664 · -4.9%
• By 2050: 179,624 · -9.4%
• By 2075: 155,027 · -21.8%
• By 2100: 122,588 · -38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 17% Two or more races 8% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Slovak 2% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Sangamon

• 2024 margin: Toss-up / Even · D 46.6% · R 51.6% · Other 1.8%
• 2008→2024 swing: -9.3pp toward R · 2008: 4.4pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.4 2016: R+9.4 2012: R+8.7 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.98%
• Current HPI: 149.1926
• Rent YoY: ▲ 4.95%
• Metro: Springfield, IL
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+114.4% since first listed

6 events — show timeline

• 2026-05-24 Listed $149,900 RMLSA as Distributed by MLS Grid
• 2025-10-03 Sold (MLS) $77,000 MRED as Distributed by MLS Grid
• 2025-10-03 Sold (MLS) $77,000 RMLSA as Distributed by MLS Grid
• 2025-08-13 Pending — RMLSA as Distributed by MLS Grid
• 2025-08-01 Listed $69,900 MRED as Distributed by MLS Grid
• 2025-08-01 Listed $69,900 RMLSA as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2024): $2,595 · +32.1% YoY. Source: county tax records.