1721 N 21st St · Springfield, IL 62702

$116,900

2 bd · 1.0 ba · 739 sqft · SingleFamily · 3 Days on market

Built 1946 7,050 sqft lot Est $80k · 46% over

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Why this score? — see what drove the F 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 +13.4/30.0
• 1% rule +4.1/10.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out all that comes with this wonderful home. Great starter or home for downsizing...move right in to this cute 2 bedroom 1 bath home with wood floors, new windows, updated bath, freshly painted, roof 6-7 yrs old, partial finished basement with family room, nice large fenced back yard with 2.5 car garage. all appliances stay.

Key facts

• Soaking tub
• Hardwood floors
• Updated bathroom

Tags

• HARDWOOD FLOORS
• UPDATED BATHROOM
• SOAKING TUB
• OVERSIZED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1946; One-story sections with additional upper and lower levels
• Construction: Not new construction
• Exterior features: Level lot; Shingle roof

Interior

• Kitchen: Kitchen with vinyl flooring
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood in bedrooms and living room; Vinyl in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $117k.

Deal economics

• At list price, monthly cash flow is $2 ($24/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (9.4% below list).
• Recommended offer: $106k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.9% in Springfield — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Fairview Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 279 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 7% at this address vs 20% district-wide (-13 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: Rents rising fast (+5.0%/yr); 137 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

• Local home prices are declining (-3.0%/yr); year-one equity from $808 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 29y 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 $69k; list at $117k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,908 (9.4% below list)

Questions for the listing agent

1. Built in 1946 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $79,812
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1702 N 20th St	0.06mi	1/1.0 (-1)	746 (+1%)	1mo	$65,000	$87	90
1729 N 20th St	0.07mi	2/1.0	720 (-3%)	8mo	$60,000	$83	85
1621 N 21st St	0.14mi	2/1.0	775 (+5%)	3mo	$89,000	$115	83
2024 N 19th St	0.26mi	2/1.0	759 (+3%)	8mo	$110,000	$145	77
1336 N Ohio St	0.37mi	2/1.0	712 (-4%)	2mo	$32,500	$46	75
1620 N 12th St	0.59mi	2/1.0	744 (+1%)	4mo	$45,000	$60	68
2352 E Keys Ave	0.69mi	2/1.0	718 (-3%)	2mo	$90,000	$125	62
2373 E Keys	0.71mi	2/1.0	784 (+6%)	1mo	$85,000	$108	56
2277 E Converse Ave	0.61mi	2/1.0	828 (+12%)	1mo	$83,500	$101	50
1050 N 19th St	0.70mi	2/1.0	667 (-10%)	2mo	$75,000	$112	49
1001 Garfield Ave	0.75mi	2/1.0	812 (+10%)	8mo	$115,000	$142	42
1133 Indiana Ave	0.62mi	1/1.0 (-1)	667 (-10%)	10mo	$62,500	$94	41

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 · 4.95% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.49×
• Total profit: $-16,664
• Equity at exit: $17,430

10-year hold

• IRR: -2.1%
• Equity multiple: 0.84×
• Total profit: $-5,167
• Equity at exit: $10,107

Cash invested: $32,732 (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: 137
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,059 medium
• Mortgage (P&I): −$613
• Tax from tax record: −$173 /mo · $2,075/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $2

Break-even live

Break-even rent $1,057

Max offer price $116,900

Occupancy floor 95%

Sensitivity live

Price	-10% $68	-5% $35	+0% $2	+5% $-31	+10% $-64
Rent	-10% $-82	-5% $-40	+0% $2	+5% $44	+10% $86
Rate	-1.0pp $61	-0.5pp $32	base $2	+0.5pp $-28	+1.0pp $-59

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: $29,225
• Closing costs: $3,507
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2013 N 11th St Unit B Springfield, IL	1.0	1.0	500	$850	$1.70	45d	1	0.67mi
1036 N Indiana Ave Springfield, IL	2.0	1.0	672	$1,100	$1.64	45d	1	0.76mi

Listing history 16 events

1. 2026-05-22
   listed $116,900 Active
2. 2021-08-06
   historical
3. 2018-05-10
   soldstatus $69,000
4. 2018-05-08
   soldstatus $69,000 332-char remark

   Show marketing remark (332 chars)

   Check out all that comes with this wonderful home. Great starter or home for downsizing...move right in to this cute 2 bedroom 1 bath home with wood floors, new windows, updated bath, freshly painted, roof 6-7 yrs old, partial finished basement with family room, nice large fenced back yard with 2.5 car garage. all appliances stay.

5. 2017-11-12
   listed $71,900 332-char remark

   Show marketing remark (332 chars)

   Check out all that comes with this wonderful home. Great starter or home for downsizing...move right in to this cute 2 bedroom 1 bath home with wood floors, new windows, updated bath, freshly painted, roof 6-7 yrs old, partial finished basement with family room, nice large fenced back yard with 2.5 car garage. all appliances stay.

6. 2012-03-16
   soldstatus $65,000
7. 2012-03-09
   soldstatus $65,000
8. 2011-02-21
   listed $69,900
9. 2007-01-31
   soldstatus $70,500
10. 2003-09-10
    soldstatus $67,000
11. 2001-12-17
    soldstatus $65,000
12. 2001-12-14
    soldstatus $64,900
13. 2001-10-13
    listed $64,900
14. 1997-07-17
    soldstatus $38,666
15. 1997-07-16
    soldstatus $58,000
16. 1997-03-01
    listed $59,900

ⓘ 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: $2,075 · $173/mo
• Projected year-2 tax: $2,364 · $197/mo
• Expected delta: +$289/yr (+$24/mo · 13.9%)

ⓘ 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: $12,709
• − Mortgage interest: −$6,548
• − Property taxes: −$2,075
• − Insurance: −$584
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$3,401
• Taxable loss: −$1,933
• Est. tax savings @ 24.0%: +$464
• After-tax cash flow: $488/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

+95.2% since first listed

17 events — show timeline

• 2026-05-25 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-22 Listed $116,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-05-10 Sold (Public Records) $69,000 Public Records
• 2018-05-08 Sold (MLS) $69,000 RMLSA as Distributed by MLS Grid
• 2017-11-12 Listed $71,900 RMLSA as Distributed by MLS Grid
• 2012-03-16 Sold (Public Records) $65,000 Public Records
• 2012-03-09 Sold (MLS) $65,000 RMLSA as Distributed by MLS Grid
• 2011-02-21 Listed $69,900 RMLSA as Distributed by MLS Grid
• 2007-01-31 Sold (Public Records) $70,500 Public Records
• 2003-09-10 Sold (Public Records) $67,000 Public Records
• 2001-12-17 Sold (Public Records) $65,000 Public Records
• 2001-12-14 Sold (MLS) $64,900 RMLSA as Distributed by MLS Grid
• 2001-10-13 Listed $64,900 RMLSA as Distributed by MLS Grid
• 1997-07-17 Sold (Public Records) $38,666 Public Records
• 1997-07-16 Sold (MLS) $58,000 RMLSA as Distributed by MLS Grid
• 1997-03-01 Listed $59,900 RMLSA as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $2,075 · +5.1% YoY. Source: county tax records.