1907 N 10th St · Springfield, IL 62702

$89,000

2 bd · 1.0 ba · 838 sqft · Other · 6 Days on market

Built 1940 0.28 ac 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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• 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

Cute 2 BR home done in neutral gray palette. White kitchen cabinets, replacement windows, nice deck out back and cute picket fence around front yard. Ready for new owner. Large deck! Fenced area in back! Additional lot to the north purchased and being sold with this property! Owner will replace kitchen flooring with same flooring that is in the bathroom. Flooring is on order and will be installed soon!

Key facts

• Updated bungalow
• Enormous back yard
• Luxury vinyl plank

Tags

• DOUBLE LOT
• UPDATED BUNGALOW
• LUXURY VINYL PLANK
• EAT IN KITCHEN
• BACK DECK
• ENORMOUS BACK YARD

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1940
• Construction: Shingle roof; Unfinished basement
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood flooring in bedrooms and living room; Luxury vinyl plank flooring in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $89k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Cap rate 9.2% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% 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 $615 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 + 5.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 26y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1940 — 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: 1.21% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.52%
• DSCR: 1.47
• GRM: 6.9

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: 1.7%
• Equity multiple: 1.07×
• Total profit: $1,683
• Equity at exit: $13,270

10-year hold

• IRR: 13.2%
• Equity multiple: 2.15×
• Total profit: $28,727
• Equity at exit: $7,695

Cash invested: $24,920 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,080 high
• Mortgage (P&I): −$467
• Tax from tax record: −$131 /mo · $1,575/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $218

Break-even live

Break-even rent $804

Max offer price $89,000

Occupancy floor 75%

Sensitivity live

Price	-10% $269	-5% $244	+0% $218	+5% $193	+10% $168
Rent	-10% $133	-5% $176	+0% $218	+5% $261	+10% $304
Rate	-1.0pp $263	-0.5pp $241	base $218	+0.5pp $195	+1.0pp $172

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Eastman Ave Springfield, IL	2.0	1.0	812	$950	$1.17	44d	1	0.77mi
1127 N 6th St Unit 2 Springfield, IL	1.0	1.0	900	$900	$1.00	44d	1	0.81mi
1036 N Indiana Ave Springfield, IL	2.0	1.0	672	$1,100	$1.64	44d	1	1.11mi
920 N 19th St Springfield, IL	3.0	1.0	1000	$1,100	$1.10	22d	1	1.19mi
401 W Elliott Ave Unit A Springfield, IL	3.0	1.0	1100	$1,300	$1.18	44d	1	1.20mi
2281 E Keys Ave Springfield, IL	2.0	1.0	800	$1,200	$1.50	44d	1	1.30mi

Listing history 19 events

1. 2026-05-14
   status Pending
2. 2026-05-09
   price $89,000
3. 2026-05-08
   listed $95,000 Active
4. 2025-05-04
   historical
5. 2025-04-01
   price
6. 2025-01-03
   listed Active
7. 2022-07-07
   soldstatus $60,000
8. 2022-07-05
   soldstatus $60,000 Closed 408-char remark

   Show marketing remark (408 chars)

   Cute 2 BR home done in neutral gray palette. White kitchen cabinets, replacement windows, nice deck out back and cute picket fence around front yard. Ready for new owner. Large deck! Fenced area in back! Additional lot to the north purchased and being sold with this property! Owner will replace kitchen flooring with same flooring that is in the bathroom. Flooring is on order and will be installed soon!

9. 2022-06-20
   status Pending 408-char remark

   Show marketing remark (408 chars)

   Cute 2 BR home done in neutral gray palette. White kitchen cabinets, replacement windows, nice deck out back and cute picket fence around front yard. Ready for new owner. Large deck! Fenced area in back! Additional lot to the north purchased and being sold with this property! Owner will replace kitchen flooring with same flooring that is in the bathroom. Flooring is on order and will be installed soon!

10. 2022-06-03
    listed $64,900 Active 408-char remark

    Show marketing remark (408 chars)

    Cute 2 BR home done in neutral gray palette. White kitchen cabinets, replacement windows, nice deck out back and cute picket fence around front yard. Ready for new owner. Large deck! Fenced area in back! Additional lot to the north purchased and being sold with this property! Owner will replace kitchen flooring with same flooring that is in the bathroom. Flooring is on order and will be installed soon!

11. 2021-03-04
    soldstatus $45,500
12. 2021-02-24
    soldstatus $45,500
13. 2020-10-30
    listed $49,900
14. 2002-07-09
    soldstatus $60,000
15. 2002-06-28
    soldstatus $59,900
16. 2002-05-08
    listed $61,900
17. 2000-05-01
    soldstatus $38,000
18. 2000-04-28
    soldstatus $38,000
19. 2000-03-08
    listed $41,000

ⓘ 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: $1,575 · $131/mo
• Projected year-2 tax: $1,798 · $150/mo
• Expected delta: +$223/yr (+$19/mo · 14.1%)

ⓘ 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: $12,965
• − Mortgage interest: −$4,985
• − Property taxes: −$1,575
• − Insurance: −$445
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$2,589
• Taxable income: $1,296
• Est. tax owed @ 24.0%: −$311
• After-tax cash flow: $2,311/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

+117.1% since first listed

19 events — show timeline

• 2026-05-14 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-09 Price Changed $89,000 RMLSA as Distributed by MLS Grid
• 2026-05-08 Listed $95,000 RMLSA as Distributed by MLS Grid
• 2025-05-04 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-04-01 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-01-03 Listed — RMLSA as Distributed by MLS Grid
• 2022-07-07 Sold (Public Records) $60,000 Public Records
• 2022-07-05 Sold (MLS) $60,000 RMLSA as Distributed by MLS Grid
• 2022-06-20 Pending — RMLSA as Distributed by MLS Grid
• 2022-06-03 Listed $64,900 RMLSA as Distributed by MLS Grid
• 2021-03-04 Sold (Public Records) $45,500 Public Records
• 2021-02-24 Sold (MLS) $45,500 RMLSA as Distributed by MLS Grid
• 2020-10-30 Listed $49,900 RMLSA as Distributed by MLS Grid
• 2002-07-09 Sold (Public Records) $60,000 Public Records
• 2002-06-28 Sold (MLS) $59,900 RMLSA as Distributed by MLS Grid
• 2002-05-08 Listed $61,900 RMLSA as Distributed by MLS Grid
• 2000-05-01 Sold (Public Records) $38,000 Public Records
• 2000-04-28 Sold (MLS) $38,000 RMLSA as Distributed by MLS Grid
• 2000-03-08 Listed $41,000 RMLSA as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2024): $1,575 · +4.0% YoY. Source: county tax records.