447 W Cook · Springfield, IL 62704

$95,000

2 bd · 1.0 ba · 1,125 sqft · Other · 156 Days on market

Built 1920 4,720 sqft lot $84/sqft · at area comps Est $97k · 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 +21.6/30.0
• ARV discount +8.6/15.0
• DSCR +6.9/10.0
• 1% rule +6.5/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New roof being installed the week of 4/13!!! Welcome to 447 W Cook! A charming historic bungalow in the heart of Springfield’s Vinegar Hill. Step inside to find original hardwood floors, rich wood trim, and beautiful arched doorways that fill the home with warmth and character. The cozy front porch is perfect for morning coffee or winding down in the evening. With an unfinished basement offering storage or future potential, plus a fenced in yard for pets or play, this home blends timeless charm with everyday convenience. A true gem in a beloved historic neighborhood! Selling As-Is.

Key facts

• Historic bungalow
• Unfinished basement
• Arched doorways

Tags

• HISTORIC BUNGALOW
• ORIGINAL HARDWOOD FLOORS
• ARCHED DOORWAYS
• COZY FRONT PORCH
• UNFINISHED BASEMENT
• FENCED IN YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 (+6.3%/yr); 177 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 $657 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 + 6.3% rent growth), your $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 7.2

CMA / ARV

• ARV (median comp): $97,431
• List price: $95,000
• Delta: -2.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.32% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-2,363
• Equity at exit: $14,165

10-year hold

• IRR: 11.0%
• Equity multiple: 2.00×
• Total profit: $26,618
• Equity at exit: $8,214

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 62704

• Home prices YoY: -31.1%
• Rents YoY: 6.3%
• Active inventory: 177
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,095 high
• Mortgage (P&I): −$498
• Tax from tax record: −$183 /mo · $2,196/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $144

Break-even live

Break-even rent $912

Max offer price $95,000

Occupancy floor 82%

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 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
423 W Lawrence Ave Unit 2 Springfield, IL	2.0	1.0	900	$1,050	$1.17	21d	1	0.04mi
1004 S College St Springfield, IL	1.0	1.0	700	$800	$1.14	21d	1	0.34mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	0.39mi
629 W Washington St Unit 4 Springfield, IL	2.0	1.0	700	$800	$1.14	43d	1	0.48mi
417 E Cook St Springfield, IL	1.0	1.0	700	$875	$1.25	43d	1	0.53mi
619 S 5th St Springfield, IL	1.0	1.0	750	$900	$1.20	43d	1	0.54mi
203 N Glenwood Ave Springfield, IL	2.0	1.0	850	$1,000	$1.18	21d	1	0.62mi
8 S Old State Capitol Plz Unit 1031831P Springfield, IL	2.0	2.0	990	$2,927	$2.96	43d	1	0.69mi
1501 S Spring St Springfield, IL	2.0	1.0	1000	$1,000	$1.00	21d	1	0.73mi
400 E Jefferson St Springfield, IL	2.0	1.0	1420	$1,220	$0.86	43d	1	0.74mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	43d	1	0.84mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	43d	1	0.86mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	21d	1	0.86mi
216 N Lincoln Ave Springfield, IL	2.0	1.0	800	$1,200	$1.50	43d	1	0.88mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	21d	1	0.95mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	43d	1	1.03mi
300 N Park Ave Springfield, IL	1.0–2.0	1.0	694	$1,035	$1.49	21d	1	1.04mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	43d	1	1.07mi
1539 W Monroe St Springfield, IL	2.0	1.0	820	$2,000	$2.44	21d	1	1.09mi
1908 S 4th St Springfield, IL	1.0	1.0	800	$850	$1.06	21d	1	1.13mi
1644 W Adams St Unit 1 Springfield, IL	2.0	1.0	950	$1,200	$1.26	43d	1	1.22mi
1030 N MacArthur Blvd Springfield, IL	2.0	1.0	1400	$1,350	$0.96	21d	1	1.35mi
401 W Elliott Ave Unit A Springfield, IL	3.0	1.0	1100	$1,300	$1.18	43d	1	1.35mi

Listing history 13 events

1. 2026-05-06
   status Pending 594-char remark

   Show marketing remark (594 chars)

   New roof being installed the week of 4/13!!! Welcome to 447 W Cook! A charming historic bungalow in the heart of Springfield’s Vinegar Hill. Step inside to find original hardwood floors, rich wood trim, and beautiful arched doorways that fill the home with warmth and character. The cozy front porch is perfect for morning coffee or winding down in the evening. With an unfinished basement offering storage or future potential, plus a fenced in yard for pets or play, this home blends timeless charm with everyday convenience. A true gem in a beloved historic neighborhood! Selling As-Is.

2. 2026-03-24
   status Active 594-char remark

   Show marketing remark (594 chars)

   New roof being installed the week of 4/13!!! Welcome to 447 W Cook! A charming historic bungalow in the heart of Springfield’s Vinegar Hill. Step inside to find original hardwood floors, rich wood trim, and beautiful arched doorways that fill the home with warmth and character. The cozy front porch is perfect for morning coffee or winding down in the evening. With an unfinished basement offering storage or future potential, plus a fenced in yard for pets or play, this home blends timeless charm with everyday convenience. A true gem in a beloved historic neighborhood! Selling As-Is.

3. 2026-03-14
   status Pending 594-char remark

   Show marketing remark (594 chars)

   New roof being installed the week of 4/13!!! Welcome to 447 W Cook! A charming historic bungalow in the heart of Springfield’s Vinegar Hill. Step inside to find original hardwood floors, rich wood trim, and beautiful arched doorways that fill the home with warmth and character. The cozy front porch is perfect for morning coffee or winding down in the evening. With an unfinished basement offering storage or future potential, plus a fenced in yard for pets or play, this home blends timeless charm with everyday convenience. A true gem in a beloved historic neighborhood! Selling As-Is.

4. 2026-03-06
   price $95,000 594-char remark

   Show marketing remark (594 chars)

   New roof being installed the week of 4/13!!! Welcome to 447 W Cook! A charming historic bungalow in the heart of Springfield’s Vinegar Hill. Step inside to find original hardwood floors, rich wood trim, and beautiful arched doorways that fill the home with warmth and character. The cozy front porch is perfect for morning coffee or winding down in the evening. With an unfinished basement offering storage or future potential, plus a fenced in yard for pets or play, this home blends timeless charm with everyday convenience. A true gem in a beloved historic neighborhood! Selling As-Is.

5. 2026-01-15
   price $105,000 594-char remark

   Show marketing remark (594 chars)

   New roof being installed the week of 4/13!!! Welcome to 447 W Cook! A charming historic bungalow in the heart of Springfield’s Vinegar Hill. Step inside to find original hardwood floors, rich wood trim, and beautiful arched doorways that fill the home with warmth and character. The cozy front porch is perfect for morning coffee or winding down in the evening. With an unfinished basement offering storage or future potential, plus a fenced in yard for pets or play, this home blends timeless charm with everyday convenience. A true gem in a beloved historic neighborhood! Selling As-Is.

6. 2025-11-24
   price $115,000 594-char remark

   Show marketing remark (594 chars)

   New roof being installed the week of 4/13!!! Welcome to 447 W Cook! A charming historic bungalow in the heart of Springfield’s Vinegar Hill. Step inside to find original hardwood floors, rich wood trim, and beautiful arched doorways that fill the home with warmth and character. The cozy front porch is perfect for morning coffee or winding down in the evening. With an unfinished basement offering storage or future potential, plus a fenced in yard for pets or play, this home blends timeless charm with everyday convenience. A true gem in a beloved historic neighborhood! Selling As-Is.

7. 2025-11-21
   listed $105,000 Active 594-char remark

   Show marketing remark (594 chars)

   New roof being installed the week of 4/13!!! Welcome to 447 W Cook! A charming historic bungalow in the heart of Springfield’s Vinegar Hill. Step inside to find original hardwood floors, rich wood trim, and beautiful arched doorways that fill the home with warmth and character. The cozy front porch is perfect for morning coffee or winding down in the evening. With an unfinished basement offering storage or future potential, plus a fenced in yard for pets or play, this home blends timeless charm with everyday convenience. A true gem in a beloved historic neighborhood! Selling As-Is.

8. 2021-08-06
   historical
9. 2009-12-04
   soldstatus $74,000
10. 2009-10-30
    soldstatus $74,000
11. 2009-07-27
    listed $75,000
12. 2001-03-23
    soldstatus $65,000
13. 1999-10-05
    soldstatus $59,000

ⓘ 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: $2,196 · $183/mo
• Projected year-2 tax: $2,196 · $183/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 100% 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: $13,142
• − Mortgage interest: −$5,321
• − Property taxes: −$2,196
• − Insurance: −$475
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − Depreciation: −$2,764
• Taxable income: $283
• Est. tax owed @ 24.0%: −$68
• After-tax cash flow: $1,665/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): 40,046
• Household income: $69,976
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1529.0

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 (74%)
• Race & ethnicity: White 74% Black 15% Two or more races 5% Hispanic / Latino 4% Asian 4%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 1% Tagalog/Filipino 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: ▼ -70.79%
• Current HPI: 156.7086
• Rent YoY: ▲ 6.32%
• 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

+61.0% since first listed

13 events — show timeline

• 2026-05-06 Pending — RMLSA as Distributed by MLS Grid
• 2026-03-24 Relisted — RMLSA as Distributed by MLS Grid
• 2026-03-14 Pending — RMLSA as Distributed by MLS Grid
• 2026-03-06 Price Changed $95,000 RMLSA as Distributed by MLS Grid
• 2026-01-15 Price Changed $105,000 RMLSA as Distributed by MLS Grid
• 2025-11-24 Price Changed $115,000 RMLSA as Distributed by MLS Grid
• 2025-11-21 Listed $105,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2009-12-04 Sold (Public Records) $74,000 Public Records
• 2009-10-30 Sold (MLS) $74,000 RMLSA as Distributed by MLS Grid
• 2009-07-27 Listed $75,000 RMLSA as Distributed by MLS Grid
• 2001-03-23 Sold (Public Records) $65,000 Public Records
• 1999-10-05 Sold (Public Records) $59,000 Public Records

Property tax history

+4.3%/yr

Latest (2024): $2,196 · +38.9% YoY. Source: county tax records.