1235 N 8th St · Springfield, IL 62702

$145,500

4 bd · 2.0 ba · 1,870 sqft · Other · 14 Days on market

Built 1910 8,450 sqft lot

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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 +24.8/30.0
• DSCR +8.0/10.0
• 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

This well-maintained 2bd/1ba side-by-side Duplex has undergone extensive recent updates. 2025-26 improvements include flooring, fresh interior & exterior paint, updated kitchen & bathroom features, updated plumbing, new back porches, a new front porch overhang, new blinds, 2024-roof & newer windows. Numerous enhancements designed for long-term durability & tenant appeal. This low-maintenance property is an ideal addition to any investment portfolio! Property Mgmt is currently conducting showings on vacant side listed for $1195/mo with strong interest & several applicants. Seller will pause showings if buyer prefers to select his/her own tenant OR also has a gre

Key facts

• New back porches
• Updated kitchen
• New blinds

Tags

• EXTENSIVE RECENT UPDATES
• UPDATED KITCHEN
• UPDATED BATHROOM FEATURES
• NEW BACK PORCHES
• NEW FRONT PORCH OVERHANG
• NEW BLINDS

Property features AI

Finance

• Financial info: Two-unit income property; Unit 1 currently rents for $850; Unit 2 rent not reported

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income); Built in 1910
• Construction: 1910 construction
• Exterior features: Level lot; Shingle roof

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Central air; Forced air heating
• Interior features: Full unfinished basement; Central air; Forced air heating

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $146k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Cap rate 8.8% 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: 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.
• Zoned schools: Mcclernand Elem School (math 5% / reading 5%, grade F, #1,741 of 2,056 statewide, top 93%, 191 students, 0% FRL); Washington Middle School (math 3% / reading 6%, grade F, #650 of 665 statewide, top 98%, 531 students, 0% FRL); Lanphier High School (math 10% / reading 16%, grade F, #501 of 693 statewide, top 73%, 1,058 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 8% at this address vs 20% district-wide (-12 pts) — the specific schools serving this property underperform the Springfield SD 186 average; the district grade overstates school quality for this exact location.
• 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 39% 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 $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y ago 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 $57k; list at $146k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 8.81%
• Cash-on-cash: 9.00%
• DSCR: 1.40
• 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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-776
• Equity at exit: $21,695

10-year hold

• IRR: 11.1%
• Equity multiple: 1.95×
• Total profit: $38,625
• Equity at exit: $12,580

Cash invested: $40,740 (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: $1,656 medium
• Mortgage (P&I): −$763
• Tax from tax record: −$179 /mo · $2,144/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $306

Break-even live

Break-even rent $1,269

Max offer price $145,500

Occupancy floor 77%

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: $36,375
• Closing costs: $4,365
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $145,500 Active 14 DOM
2. 2026-06-18
   days on market $145,500 Active 13 DOM
3. 2026-06-17
   days on market $145,500 Active 12 DOM
4. 2026-06-16
   days on market $145,500 Active 11 DOM
5. 2026-06-15
   days on market $145,500 Active 10 DOM
6. 2026-06-14
   days on market $145,500 Active 8 DOM
7. 2026-06-13
   days on market $145,500 Active 7 DOM
8. 2026-06-10
   days on market $145,500 Active 5 DOM
9. 2026-06-09
   days on market $145,500 Active 4 DOM
10. 2026-06-08
    days on market $145,500 Active 3 DOM
11. 2026-06-07
    remarks 679-char remark
12. 2026-06-07
    listed $145,500 Active 2 DOM

ⓘ 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: $2,144 · $179/mo
• Projected year-2 tax: $2,724 · $227/mo
• Expected delta: +$579/yr (+$48/mo · 27.0%)

ⓘ 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 ≥104°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: $19,868
• − Mortgage interest: −$8,150
• − Property taxes: −$2,144
• − Insurance: −$728
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$4,233
• Taxable income: $1,434
• Est. tax owed @ 24.0%: −$344
• After-tax cash flow: $3,323/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

+321.7% since first listed

8 events — show timeline

• 2026-06-05 Listed $145,500 RMLSA as Distributed by MLS Grid
• 2026-04-29 Listed for Rent $1,195 APPFOLIO
• 2021-10-25 Sold (Public Records) $57,000 Public Records
• 2021-10-18 Sold (MLS) $57,000 RMLSA as Distributed by MLS Grid
• 2021-09-07 Listed $63,500 RMLSA as Distributed by MLS Grid
• 2015-09-15 Sold (Public Records) $49,900 Public Records
• 2010-04-14 Sold (Public Records) $48,000 Public Records
• 2001-03-26 Sold (Public Records) $34,500 Public Records

Property tax history

+4.1%/yr

Latest (2025): $2,144 · +3.3% YoY. Source: county tax records.