730 W Ash St · Springfield, IL 62704

$139,900

3 bd · 1.0 ba · 1,044 sqft · SingleFamily · 25 Days on market

Built 1930 10,354 sqft lot Est $117k · 20% over

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Why this score? — see what drove the D- 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 +14.6/30.0
• DSCR +4.4/10.0
• Rent growth +4.1/5.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Wow! Dreaming of a charming bungalow with an enormous 22 x 60 garage and a huge 60 x 200 lot right in the heart of Central West Springfield? Well here it is! 2-3BD 1BA bungalow has hardwood under carpet, formal dining room, lots of unpainted woodwork, vintage wood upper kitchen cabinets, French doors, and gorgeous vintage light fixtures. The room off the kitchen is filled with natural light and could double as a sunroom or sitting room. Garage can hold numerous vehicles and has work shop space. There is a full unfinished basement that has tons of storage! The huge rear lot is double-fenced, one at the house and the other at the perimeter, and is tastefully planted with perennials. This ho

Key facts

• Formal dining room
• French doors
• Natural light

Tags

• HARDWOOD UNDER CARPET
• FORMAL DINING ROOM
• UNPAINTED WOODWORK
• FRENCH DOORS
• VINTAGE LIGHT FIXTURES
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Detached, oversized garage with gravel driveway; 4-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1930
• Construction: Shingle roof
• Exterior features: Fenced yard; Level lot; Extra lot; Paved road access

Interior

• Kitchen: Kitchen area with vinyl flooring; Refrigerator included
• Bedrooms: Three bedrooms (all on the main level); Bedroom sizes approximately 11 x 11.9 ft, 11 x 11.6 ft, and 10.6 x 9.2 ft; Egress windows in each bedroom
• Flooring: Carpet in living areas and bedrooms; Vinyl flooring in the kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full, unfinished basement; Refrigerator included; No fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $33 ($393/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 $126k (10.2% below list).
• Recommended offer: $126k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: 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: Butler Elem School (math 17% / reading 17%, grade F, #1,141 of 2,056 statewide, top 59%, 344 students, 0% FRL); Benjamin Franklin Middle School (math 23% / reading 31%, grade F, #302 of 665 statewide, top 47%, 713 students, 0% FRL); Springfield Southeast High Sch (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 1,261 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.
• Market conditions: Rents rising fast (+6.3%/yr); 183 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 $967 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

• It's been on market 25 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $125,576 (10.2% below list)

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. 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: 0.90% ✗
• Cap rate: 6.57%
• Cash-on-cash: 1.00%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $116,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1832 S State St	0.21mi	2/1.0 (-1)	1,045 (+0%)	2mo	$182,000	$174	83
1816 S Lowell Ave	0.20mi	2/1.0 (-1)	1,001 (-4%)	1mo	$145,000	$145	78
2009 S Pasfield St	0.25mi	2/2.0 (-1)	1,024 (-2%)	6mo	$132,000	$129	71
2336 S State St	0.35mi	3/2.0	1,091 (+4%)	4mo	$122,000	$112	68
2705 Holmes Ave	0.61mi	3/1.0	1,070 (+2%)	3mo	$92,700	$87	65
1304 S Walnut St	0.54mi	2/1.0 (-1)	1,100 (+5%)	3mo	$97,000	$88	59
2036 S 4th St	0.65mi	2/1.0 (-1)	1,027 (-2%)	5mo	$87,000	$85	58
1833 S Douglas Ave	0.45mi	3/1.0	911 (-13%)	1mo	$168,000	$184	57
1617 S Lincoln Ave	0.61mi	2/1.5 (-1)	1,003 (-4%)	4mo	$153,400	$153	55
1509 S Macarthur Blvd	0.48mi	2/1.5 (-1)	950 (-9%)	2mo	$106,000	$112	54
209 E Spruce St	0.67mi	2/1.0 (-1)	982 (-6%)	6mo	$108,000	$110	49
443 W Vine St	0.69mi	2/1.0 (-1)	1,164 (+12%)	3mo	$123,000	$106	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 · 6.32% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.59×
• Total profit: $-16,234
• Equity at exit: $20,860

10-year hold

• IRR: 2.4%
• Equity multiple: 1.20×
• Total profit: $7,653
• Equity at exit: $12,096

Cash invested: $39,172 (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: 183
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,256 high
• Mortgage (P&I): −$734
• Tax from tax record: −$167 /mo · $2,008/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $33

Break-even live

Break-even rent $1,214

Max offer price $139,900

Occupancy floor 92%

Sensitivity live

Price	-10% $112	-5% $72	+0% $33	+5% $-7	+10% $-46
Rent	-10% $-66	-5% $-17	+0% $33	+5% $82	+10% $132
Rate	-1.0pp $103	-0.5pp $68	base $33	+0.5pp $-3	+1.0pp $-40

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	45d	1	0.52mi
1501 S Spring St Springfield, IL	2.0	1.0	1000	$1,000	$1.00	23d	1	0.53mi
2715 S MacArthur Blvd Unit 01 Springfield, IL	2.0	1.5	935	$975	$1.04	45d	1	0.77mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	23d	1	0.79mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	45d	1	0.85mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	23d	1	0.90mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	45d	1	0.91mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	23d	1	0.91mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	45d	1	1.05mi
604 Bryn Mawr Blvd Springfield, IL	2.0	1.0	850	$1,100	$1.29	45d	1	1.07mi
423 W Lawrence Ave Unit 2 Springfield, IL	2.0	1.0	900	$1,050	$1.17	23d	1	1.09mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	45d	1	1.11mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	45d	1	1.11mi
1729 W Iles Ave Springfield, IL	3.0	1.0	1162	$1,500	$1.29	23d	1	1.22mi
12 Douglas Ct Springfield, IL	3.0	1.0	1000	$1,300	$1.30	23d	1	1.33mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	45d	1	1.41mi

Listing history 19 events

1. 2026-06-22
   days on market $139,900 Active 25 DOM
2. 2026-06-19
   pricedays on market $139,900 Active 23 DOM
3. 2026-06-18
   days on market $149,900 Active 22 DOM
4. 2026-06-17
   days on market $149,900 Active 21 DOM
5. 2026-06-16
   days on market $149,900 Active 20 DOM
6. 2026-06-15
   days on market $149,900 Active 19 DOM
7. 2026-06-14
   days on market $149,900 Active 17 DOM
8. 2026-06-13
   days on market $149,900 Active 16 DOM
9. 2026-06-10
   days on market $149,900 Active 14 DOM
10. 2026-06-09
    days on market $149,900 Active 13 DOM
11. 2026-06-08
    days on market $149,900 Active 12 DOM
12. 2026-06-07
    days on market $149,900 Active 11 DOM
13. 2026-06-05
    days on market $149,900 Active 8 DOM
14. 2026-06-03
    days on market $149,900 Active 7 DOM
15. 2026-06-02
    days on market $149,900 Active 6 DOM
16. 2026-06-01
    days on market $149,900 Active 5 DOM
17. 2026-05-31
    days on market $149,900 Active 4 DOM
18. 2026-05-30
    days on market $149,900 Active 3 DOM
19. 2026-05-27
    listed $149,900 Active

ⓘ 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: $2,008 · $167/mo
• Projected year-2 tax: $2,592 · $216/mo
• Expected delta: +$584/yr (+$49/mo · 29.1%)

ⓘ 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: $15,069
• − Mortgage interest: −$7,837
• − Property taxes: −$2,008
• − Insurance: −$700
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$4,070
• Taxable loss: −$1,956
• Est. tax savings @ 24.0%: +$469
• After-tax cash flow: $863/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

1 event — show timeline

• 2026-05-27 Listed $149,900 RMLSA as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2025): $2,008 · -3.6% YoY. Source: county tax records.