2336 S 11th St · Springfield, IL 62702

$69,900

2 bd · 2.0 ba · 1,335 sqft · Other · 30 Days on market

Built 1928 5,400 sqft lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Charming 2 bedroom, 2 bath Bungalow including a finished attic with a full bath! Basement has potential for additional living space too! This home has lots of storage, fenced yard, and a welcoming front porch. Some TLC and this would be a great home or portfolio addition! Selling as-is with current contents.

Key facts

• Lots of storage
• Finished attic
• Fenced yard

Tags

• FINISHED ATTIC
• FENCED YARD
• WELCOMING FRONT PORCH
• LOTS OF STORAGE

Property features AI

Exterior

• Parking: Parking pad
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1928; Shingle roof
• Construction: Originally built in 1928
• Exterior features: Fenced yard; Shed(s); Level lot

Interior

• Kitchen: Dishwasher, Microwave, Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Luxury vinyl plank (one bedroom); Carpet (bedroom 2, living room, dining room); Laminate (kitchen)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher; Microwave; Refrigerator; Full basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.4% 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: Harvard Park Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 346 students, 0% FRL); Jefferson Middle School (math 3% / reading 8%, grade F, #635 of 665 statewide, top 95%, 539 students, 0% FRL); Springfield Southeast High Sch (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 1,261 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.
• Market conditions: Rents rising fast (+5.0%/yr); 131 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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: 1.77% ✓
• Cap rate: 14.42%
• Cash-on-cash: 29.04%
• DSCR: 2.29
• GRM: 4.7

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: 25.7%
• Equity multiple: 2.09×
• Total profit: $21,343
• Equity at exit: $10,422

10-year hold

• IRR: 34.6%
• Equity multiple: 4.48×
• Total profit: $68,119
• Equity at exit: $6,044

Cash invested: $19,572 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,237 high
• Mortgage (P&I): −$367
• Tax from tax record: −$108 /mo · $1,295/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $474

Break-even live

Break-even rent $637

Max offer price $69,900

Occupancy floor 57%

Sensitivity live

Price	-10% $513	-5% $493	+0% $474	+5% $454	+10% $434
Rent	-10% $376	-5% $425	+0% $474	+5% $522	+10% $571
Rate	-1.0pp $509	-0.5pp $491	base $474	+0.5pp $455	+1.0pp $437

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	45d	1	0.12mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	45d	1	0.17mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	22d	1	0.40mi
6 Ridge Ct Springfield, IL	3.0	1.0	905	$1,350	$1.49	45d	1	0.67mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	45d	1	0.75mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	22d	1	0.83mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	45d	1	0.94mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	22d	1	0.94mi
2949 Fox Bridge Rd Springfield, IL	2.0	1.0	900	$960	$1.07	22d	1	0.98mi
1929 E Spruce St Springfield, IL	3.0	1.0	1500	$1,300	$0.87	45d	1	0.98mi
2005 E Laurel St Springfield, IL	2.0	1.0	900	$1,000	$1.11	45d	1	0.99mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	45d	1	1.06mi
1501 S Spring St Springfield, IL	2.0	1.0	1000	$1,000	$1.00	22d	1	1.10mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	45d	1	1.11mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	22d	1	1.39mi

Listing history 19 events

1. 2026-06-19
   days on market $69,900 Under Contract 30 DOM
2. 2026-06-18
   days on market $69,900 Under Contract 29 DOM
3. 2026-06-17
   days on market $69,900 Under Contract 28 DOM
4. 2026-06-16
   days on market $69,900 Under Contract 27 DOM
5. 2026-06-15
   days on market $69,900 Under Contract 26 DOM
6. 2026-06-14
   days on market $69,900 Under Contract 24 DOM
7. 2026-06-13
   days on market $69,900 Under Contract 23 DOM
8. 2026-06-10
   days on market $69,900 Under Contract 21 DOM
9. 2026-06-09
   days on market $69,900 Under Contract 20 DOM
10. 2026-06-08
    days on market $69,900 Under Contract 19 DOM
11. 2026-06-07
    days on market $69,900 Under Contract 18 DOM
12. 2026-06-05
    days on market $69,900 Under Contract 15 DOM
13. 2026-06-03
    days on market $69,900 Under Contract 14 DOM
14. 2026-06-02
    days on market $69,900 Under Contract 13 DOM
15. 2026-06-01
    days on market $69,900 Under Contract 12 DOM
16. 2026-05-31
    days on market $69,900 Under Contract 11 DOM
17. 2026-05-30
    days on market $69,900 Under Contract 10 DOM
18. 2026-05-21
    historical Under Contract
19. 2026-05-20
    listed $69,900 Active

ⓘ 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: $1,295 · $108/mo
• Projected year-2 tax: $1,441 · $120/mo
• Expected delta: +$146/yr (+$12/mo · 11.3%)

ⓘ 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: $14,844
• − Mortgage interest: −$3,915
• − Property taxes: −$1,295
• − Insurance: −$350
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$2,033
• Taxable income: $4,875
• Est. tax owed @ 24.0%: −$1,170
• After-tax cash flow: $4,513/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

2 events — show timeline

• 2026-05-21 Contingent — RMLSA as Distributed by MLS Grid
• 2026-05-20 Listed $69,900 RMLSA as Distributed by MLS Grid

Property tax history

+0.6%/yr

Latest (2024): $1,295 · +4.0% YoY. Source: county tax records.