1800 S 4th St · Springfield, IL 62703

$100,000

3 bd · 1.0 ba · 1,282 sqft · SingleFamily · 11 Days on market

Built 1947 5,160 sqft lot Est $100k · at est.

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Why this score? — see what drove the B- 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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Easy bungalow for a new owner! Well cared for corner lot home w small fenced backyard, 3 bedrooms, 1 bath. Kitchen and bath updated w tile floor- SS Appliances stay - even Washer & Dryer. Large kitchen pantry a huge plus! HW floors in bedrms & under carpet. New Roof & garage in 2012/13. Radon mitigation system in full bsement. Selling AS-IS BUT home has been pre-inpsected AND seller offering 13 mo Home Warranty! Cute home ready for new owner.

Key facts

• Full basement
• New roof
• Dining room ceiling

Tags

• DINING ROOM CEILING
• SMALL FENCED BACKYARD
• NEW ROOF
• FULL BASEMENT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1947
• Construction: Shingle roof; Unfinished basement
• Exterior features: Fenced yard; Corner lot

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms total; Main-level bedroom: 13 x 11.3 ft, hardwood flooring, egress window; Main-level bedroom: 9.8 x 9.1 ft, carpet, egress window; Main-level bedroom: 11.1 x 10.1 ft, hardwood flooring, egress window
• Flooring: Hardwood in some bedrooms; Carpet in living areas and some rooms; Tile in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heat; Central air conditioning
• Interior features: Radon mitigation system; Wood-burning fireplace (1)
• Laundry & utility: Washer; Dryer; Laundry room in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 9.6% 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 (+12.2%/yr); 107 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).
• This rent runs 35% of the median local income ($45k/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 $691 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 30y 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.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1947 — 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: 1.33% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.89%
• DSCR: 1.53
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $99,996
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2001 S Spring St	0.32mi	4/2.0 (+1)	1,282 (0%)	1mo	$100,000	$78	76
9 Ruth Ct	0.35mi	3/1.0	1,223 (-5%)	5mo	$93,000	$76	72
49 Ruth Ct	0.39mi	2/1.0 (-1)	1,260 (-2%)	5mo	$98,000	$78	70
1124 Laurel St	0.59mi	3/1.0	1,331 (+4%)	2mo	$65,000	$49	64
1620 S 8th St	0.36mi	3/1.0	1,128 (-12%)	4mo	$35,000	$31	60
1927 S 13th St	0.66mi	3/2.0	1,305 (+2%)	4mo	$47,500	$36	58
1942 S 11th St	0.55mi	3/1.0	1,170 (-9%)	2mo	$42,000	$36	58
2128 S Lowell Ave	0.61mi	4/2.0 (+1)	1,319 (+3%)	2mo	$160,000	$121	57
512 Broad Pl	0.44mi	2/1.0 (-1)	1,450 (+13%)	1mo	$119,900	$83	52
2241 S 12th St	0.72mi	3/1.0	1,200 (-6%)	5mo	$89,900	$75	52
443 W Vine St	0.70mi	2/1.0 (-1)	1,164 (-9%)	3mo	$123,000	$106	45
2501 S College St	0.67mi	3/2.0	1,473 (+15%)	1mo	$159,900	$109	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.30×
• Total profit: $8,533
• Equity at exit: $14,910

10-year hold

• IRR: 20.9%
• Equity multiple: 3.23×
• Total profit: $62,332
• Equity at exit: $8,646

Cash invested: $28,000 (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 62703

• Home prices YoY: -28.9%
• Rents YoY: 12.2%
• Active inventory: 107
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,325 high
• Mortgage (P&I): −$524
• Tax from tax record: −$204 /mo · $2,443/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $277

Break-even live

Break-even rent $974

Max offer price $100,000

Occupancy floor 74%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	43d	1	0.18mi
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	43d	1	0.22mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	20d	1	0.25mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	20d	1	0.31mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	43d	1	0.31mi
1501 S Spring St Springfield, IL	2.0	1.0	1000	$1,000	$1.00	20d	1	0.34mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	43d	1	0.53mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	43d	1	0.61mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	20d	1	0.63mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	20d	1	0.65mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	43d	1	0.70mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	43d	1	0.78mi
423 W Lawrence Ave Unit 2 Springfield, IL	2.0	1.0	900	$1,050	$1.17	20d	1	0.98mi
1929 E Spruce St Springfield, IL	3.0	1.0	1500	$1,300	$0.87	43d	1	1.21mi
2005 E Laurel St Springfield, IL	2.0	1.0	900	$1,000	$1.11	43d	1	1.27mi
8 S Old State Capitol Plz Unit 1031831P Springfield, IL	2.0	2.0	990	$2,927	$2.96	43d	1	1.28mi
2715 S MacArthur Blvd Unit 01 Springfield, IL	2.0	1.5	935	$975	$1.04	43d	1	1.35mi
922 Governor St Springfield, IL	3.0	1.0	1682	$1,200	$0.71	43d	1	1.39mi
6 Ridge Ct Springfield, IL	3.0	1.0	905	$1,350	$1.49	43d	1	1.40mi
400 E Jefferson St Springfield, IL	2.0	1.0	1420	$1,220	$0.86	43d	1	1.42mi

Listing history 10 events

1. 2026-06-19
   days on market $100,000 Active 11 DOM
2. 2026-06-18
   days on market $100,000 Active 10 DOM
3. 2026-06-17
   days on market $100,000 Active 9 DOM
4. 2026-06-16
   days on market $100,000 Active 8 DOM
5. 2026-06-15
   days on market $100,000 Active 7 DOM
6. 2026-06-14
   days on market $100,000 Active 5 DOM
7. 2026-06-13
   days on market $100,000 Active 4 DOM
8. 2026-06-10
   days on market $100,000 Active 2 DOM
9. 2026-06-09
   remarks 543-char remark
10. 2026-06-09
    listed $100,000 Active 1 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: $2,443 · $204/mo
• Projected year-2 tax: $2,443 · $204/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,904
• − Mortgage interest: −$5,602
• − Property taxes: −$2,443
• − Insurance: −$500
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$2,909
• Taxable income: $1,906
• Est. tax owed @ 24.0%: −$457
• After-tax cash flow: $2,871/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): 28,922
• Household income: $45,009
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1626.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Black 35% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Arabic 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: ▼ -59.69%
• Current HPI: 147.0877
• Rent YoY: ▲ 12.19%
• 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

+69.8% since first listed

10 events — show timeline

• 2026-06-08 Listed $100,000 RMLSA as Distributed by MLS Grid
• 2015-07-15 Sold (Public Records) $87,000 Public Records
• 2015-07-10 Sold (MLS) $87,000 RMLSA as Distributed by MLS Grid
• 2015-03-27 Listed $87,000 RMLSA as Distributed by MLS Grid
• 2009-12-10 Sold (Public Records) $85,000 Public Records
• 2008-05-12 Sold (Public Records) $76,000 Public Records
• 2008-05-09 Sold (MLS) $76,000 RMLSA as Distributed by MLS Grid
• 2007-09-04 Listed $79,900 RMLSA as Distributed by MLS Grid
• 1997-05-02 Sold (MLS) $58,200 RMLSA as Distributed by MLS Grid
• 1996-10-23 Listed $58,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2025): $2,443 · +4.9% YoY. Source: county tax records.