1531 N 9th St · Springfield, IL 62702-2720

$95,000

2 bd · 1.5 ba · 1,793 sqft · SingleFamily · 1 Days on market

Built 1922 5,880 sqft lot Est $134k · 29% under

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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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Appreciation +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Welcome to this charming north side bungalow, literally a short walk to the Illinois State Fairgrounds. This place offers unbeatable value and is brimming with character! The home features stunning natural woodwork that creates a warm and inviting atmosphere throughout. The main level offers a cozy living space, perfect for everyday living. But that's not all—make your way to the fully finished basement, an additional 820 sq ft of living space just waiting to be transformed to fit your lifestyle. Whether you need a home office, extra bedrooms, or a rec room, the possibilities are endless. With just a few finishing touches, this gem can easily become the home of your dreams. Don't miss out—this one won't last long!

Key facts

• North side bungalow
• Finished basement
• 5,880 sq ft lot

Tags

• NORTH SIDE BUNGALOW
• FINISHED BASEMENT
• ILLINOIS STATE FAIRGROUNDS

Property features AI

Exterior

• Parking: Detached, paved 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1922
• Construction: Shingle roof; Built 1922
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Tile flooring in kitchen
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood flooring in main-level living areas and bedrooms; Tile flooring in kitchen and basement areas
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Partially finished basement; No fireplaces
• Laundry & utility: Basement laundry room (8 x 14.5)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 10.7% 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: 1 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($657 loan paydown + $3k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1922 — 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: 1.35% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.88%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $134,475
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1920 N 9th St	0.31mi	2/1.0	1,915 (+7%)	10mo	$65,000	$34	64
1928 N 5th St	0.43mi	3/2.5 (+1)	1,812 (+1%)	12mo	$135,000	$75	59
1028 N 4th St	0.68mi	3/2.0 (+1)	1,793 (0%)	6mo	$65,000	$36	56
2136 N 6th St	0.63mi	3/2.0 (+1)	1,787 (-0%)	10mo	$75,000	$42	55
1915 N 6th St	0.40mi	3/1.5 (+1)	1,625 (-9%)	8mo	$191,000	$118	54
1804 Fairfield Dr	0.56mi	3/1.5 (+1)	1,670 (-7%)	5mo	$125,000	$75	53
1916 Fairmont Dr	0.65mi	3/2.0 (+1)	1,805 (+1%)	11mo	$154,000	$85	52
1815 Fairfield Dr	0.54mi	3/1.0 (+1)	1,615 (-10%)	1mo	$165,000	$102	51
1916 Fairfield Dr	0.61mi	3/1.0 (+1)	1,723 (-4%)	13mo	$139,900	$81	48
417 E Keys Ave	0.36mi	3/1.0 (+1)	1,569 (-12%)	10mo	$105,000	$67	47
1443 N 3rd St	0.48mi	3/1.0 (+1)	1,608 (-10%)	11mo	$125,000	$78	44
1108 N 12th St	0.66mi	3/2.0 (+1)	1,700 (-5%)	14mo	$75,000	$44	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 2.27×
• Total profit: $33,890
• Equity at exit: $42,716

10-year hold

• IRR: 23.4%
• Equity multiple: 4.36×
• Total profit: $89,265
• Equity at exit: $65,831

Cash invested: $26,600 (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 62702-2720

• Active inventory: 1
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,284 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$124 /mo · $1,493/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $352

Break-even live

Break-even rent $838

Max offer price $95,000

Occupancy floor 68%

Sensitivity live

Price	-10% $406	-5% $379	+0% $352	+5% $325	+10% $298
Rent	-10% $251	-5% $301	+0% $352	+5% $403	+10% $453
Rate	-1.0pp $400	-0.5pp $376	base $352	+0.5pp $327	+1.0pp $302

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 E Jefferson St Springfield, IL	2.0	1.0	1420	$1,220	$0.86	44d	1	1.38mi
1030 N MacArthur Blvd Springfield, IL	2.0	1.0	1400	$1,350	$0.96	21d	1	1.41mi

Listing history 2 events

1. 2026-06-13
   remarks 362-char remark
2. 2026-06-13
   listed $95,000 Pending 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: $1,493 · $124/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$332/yr (+$28/mo · 22.2%)

ⓘ 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: $15,406
• − Mortgage interest: −$5,321
• − Property taxes: −$1,493
• − Insurance: −$475
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$2,764
• Taxable income: $2,888
• Est. tax owed @ 24.0%: −$693
• After-tax cash flow: $3,531/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+46.4% since first listed

13 events — show timeline

• 2026-06-13 Pending — RMLSA as Distributed by MLS Grid
• 2026-06-11 Listed $95,000 RMLSA as Distributed by MLS Grid
• 2025-04-01 Sold (Public Records) $82,297 Public Records
• 2025-03-27 Sold (MLS) $82,297 RMLSA as Distributed by MLS Grid
• 2025-02-25 Pending — RMLSA as Distributed by MLS Grid
• 2025-02-18 Listed $79,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2010-05-05 Sold (Public Records) $68,000 Public Records
• 2010-04-30 Sold (MLS) $68,000 RMLSA as Distributed by MLS Grid
• 2010-02-11 Listed $69,900 RMLSA as Distributed by MLS Grid
• 2008-01-04 Sold (Public Records) $63,000 Public Records
• 2008-01-02 Sold (MLS) $62,700 RMLSA as Distributed by MLS Grid
• 2007-12-12 Listed $64,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2025): $1,493 · +5.8% YoY. Source: county tax records.