1020 S Macarthur Blvd · Springfield, IL 62704

$100,000

2 bd · 1.0 ba · 1,512 sqft · Other

Built 1925 7,056 sqft 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 +19.4/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• DSCR +6.1/10.0
• 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

This well-located 2-bedroom, 1-bath home offers classic charm in a highly desirable area near Washington Park. Featuring a 1.5 story layout, the home provides a comfortable and functional floor plan with plenty of character throughout. Solid brick construction adds timeless curb appeal, while the nearby park offers easy access to green space, recreation, and walking paths. Perfect for first-time buyers, downsizers, or investors looking for a great location with strong potential. Square foot believed to be accurate but not warranted.

Key facts

• 7,056 sq ft lot
• 2 garage spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• 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 (+6.3%/yr); 177 active listings in the ZIP; 9 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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 $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.21% ✓
• Cap rate: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-4,751
• Equity at exit: $14,910

10-year hold

• IRR: 9.4%
• Equity multiple: 1.86×
• Total profit: $23,941
• Equity at exit: $8,646

Cash invested: $28,000 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,214 high
• Mortgage (P&I): −$524
• Tax from tax record: −$281 /mo · $3,369/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $112

Break-even live

Break-even rent $1,072

Max offer price $100,000

Occupancy floor 86%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
922 Governor St Springfield, IL	3.0	1.0	1682	$1,200	$0.71	44d	1	0.53mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	0.56mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	44d	1	1.06mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	21d	1	1.06mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	21d	1	1.13mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	44d	1	1.15mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	44d	1	1.16mi
400 E Jefferson St Springfield, IL	2.0	1.0	1420	$1,220	$0.86	44d	1	1.29mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	44d	1	1.45mi

Listing history 3 events

1. 2026-01-09
   soldstatus $100,000
2. 2025-12-15
   historical
3. 2025-12-10
   listed $100,000

ⓘ 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: $3,369 · $281/mo
• Projected year-2 tax: $3,369 · $281/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: $14,568
• − Mortgage interest: −$5,602
• − Property taxes: −$3,369
• − Insurance: −$500
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$2,909
• Taxable loss: −$142
• Est. tax savings @ 24.0%: +$34
• After-tax cash flow: $1,381/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

+0.0% since first listed

3 events — show timeline

• 2026-01-09 Sold (Public Records) $100,000 Public Records
• 2025-12-15 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-10 Listed $100,000 RMLSA as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2024): $3,369 · +4.0% YoY. Source: county tax records.