2501 S 7th St · Springfield, IL 62703

$129,900

3 bd · 1.5 ba · 1,538 sqft · SingleFamily · 2 Days on market

Built 1930 5,400 sqft lot Est $126k · at est.

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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 +19.5/30.0
• DSCR +6.2/10.0
• ARV discount +6.1/15.0
• 1% rule +5.4/10.0
• 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

WOW! This 2 story charmer lives large. You will love an expansive living area with natural light and newer carpet accented by a warm foyer entry. A classic Sears Honor Bilt home offers picturesque curb appeal & a dynamic floor plan. You'll love the large kitchen w/an abundance of cabinetry, large formal dining & the brick fireplace in the living room. This gorgeous home has beautiful wood work throughout that maintains it's timeless character, hardwood in upstairs bedrooms & just enough updating to keep it practical. Outside enjoy a large backyard and detached garage as well! Must See!

Key facts

• 5,400 sq ft lot
• 2 garage spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 7.6% 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; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 36% 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 $898 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 + 8.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $82k; list at $130k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1930 — 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: 1.04% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.84%
• DSCR: 1.22
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $126,116
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2513 S 7th St	0.02mi	2/1.5 (-1)	1,696 (+10%)	1mo	$117,200	$69	76
2501 S 10th St	0.20mi	3/2.0	1,644 (+7%)	1mo	$49,000	$30	76
512 Broad Pl	0.31mi	2/1.0 (-1)	1,450 (-6%)	1mo	$119,900	$83	69
2501 S College St	0.53mi	3/2.0	1,473 (-4%)	2mo	$159,900	$109	65
709 Bryn Mawr Blvd	0.13mi	4/1.0 (+1)	1,736 (+13%)	3mo	$150,000	$86	63
1933 S 1st St	0.70mi	3/1.5	1,599 (+4%)	3mo	$90,000	$56	58
29 Belle Pl	0.39mi	3/2.0	1,392 (-10%)	7mo	$130,000	$93	58
2008 S 5th St	0.55mi	2/1.0 (-1)	1,480 (-4%)	7mo	$107,000	$72	55
2832 S 3rd St	0.55mi	2/1.0 (-1)	1,404 (-9%)	6mo	$115,000	$82	48
2945 S 3rd St	0.69mi	2/1.5 (-1)	1,374 (-11%)	4mo	$145,000	$106	42
1117 E Ash St	0.71mi	3/1.0	1,348 (-12%)	6mo	$37,000	$27	40
2937 S 3rd St	0.68mi	2/1.0 (-1)	1,342 (-13%)	6mo	$94,000	$70	35

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-4,505
• Equity at exit: $19,369

10-year hold

• IRR: 11.6%
• Equity multiple: 2.12×
• Total profit: $40,892
• Equity at exit: $11,231

Cash invested: $36,372 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$681
• Tax from tax record: −$190 /mo · $2,283/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $147

Break-even live

Break-even rent $1,172

Max offer price $129,900

Occupancy floor 84%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	44d	1	0.32mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	44d	1	0.36mi
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	44d	1	0.64mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	21d	1	0.76mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	44d	1	0.85mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	21d	1	0.95mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	44d	1	1.05mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	21d	1	1.05mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	44d	1	1.23mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	44d	1	1.37mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	1.38mi
1929 E Spruce St Springfield, IL	3.0	1.0	1500	$1,300	$0.87	44d	1	1.39mi

Listing history 8 events

1. 2026-06-05
   statusdays on market $129,900 Pending 2 DOM
2. 2026-06-03
   remarks 518-char remark
3. 2026-06-03
   statusdays on market $129,900 Active 1 DOM
4. 2026-05-14
   historical
5. 2026-05-13
   listed $129,000
6. 2018-11-29
   soldstatus $82,500
7. 2018-11-28
   soldstatus $82,500 604-char remark

   Show marketing remark (604 chars)

   WOW! This 2 story charmer lives large. You will love an expansive living area with natural light and newer carpet accented by a warm foyer entry. A classic Sears Honor Bilt home offers picturesque curb appeal & a dynamic floor plan. You'll love the large kitchen w/an abundance of cabinetry, large formal dining & the brick fireplace in the living room. This gorgeous home has beautiful wood work throughout that maintains it's timeless character, hardwood in upstairs bedrooms & just enough updating to keep it practical. Outside enjoy a large backyard and detached garage as well! Must See!

8. 2018-10-23
   listed $85,900 604-char remark

   Show marketing remark (604 chars)

   WOW! This 2 story charmer lives large. You will love an expansive living area with natural light and newer carpet accented by a warm foyer entry. A classic Sears Honor Bilt home offers picturesque curb appeal & a dynamic floor plan. You'll love the large kitchen w/an abundance of cabinetry, large formal dining & the brick fireplace in the living room. This gorgeous home has beautiful wood work throughout that maintains it's timeless character, hardwood in upstairs bedrooms & just enough updating to keep it practical. Outside enjoy a large backyard and detached garage as well! Must See!

ⓘ 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: $2,283 · $190/mo
• Projected year-2 tax: $2,616 · $218/mo
• Expected delta: +$333/yr (+$28/mo · 14.6%)

ⓘ 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: $16,285
• − Mortgage interest: −$7,276
• − Property taxes: −$2,283
• − Insurance: −$650
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$3,779
• Taxable loss: −$308
• Est. tax savings @ 24.0%: +$74
• After-tax cash flow: $1,833/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

+50.2% since first listed

5 events — show timeline

• 2026-05-14 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-05-13 Listed $129,000 RMLSA as Distributed by MLS Grid
• 2018-11-29 Sold (Public Records) $82,500 Public Records
• 2018-11-28 Sold (MLS) $82,500 RMLSA as Distributed by MLS Grid
• 2018-10-23 Listed $85,900 RMLSA as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2024): $2,283 · +6.2% YoY. Source: county tax records.