1811 S 4th St · Springfield, IL 62703

$110,000

2 bd · 1.0 ba · 900 sqft · SingleFamily · 8 Days on market

Built 1910 6,000 sqft lot Est $99k · 11% 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 +13.7/30.0
• Rent growth +5.0/5.0
• 1% rule +4.3/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy Your Summer On The New Screened-In Porch!Darling Bungalow Has Loads Of Updates. 9 Foot Ceilings, Hardwood Floors, French Doors, New Kitchen Linoleum, New A/C, Furnace, 100 Amp Electrical, Newer Piping. Hot Water Heater 4 Years Old. Remodeled Jack & Jill Style Bathroom In 6/02. Freshly Painted.

Key facts

• Pantry
• Hardwood throughout
• 3 yr old roof

Tags

• HARDWOOD THROUGHOUT
• FULL BASEMENT FOR STORAGE
• PATIO AREA FOR ENTERTAINING
• FULL SIZED DINING ROOM
• PANTRY
• 3 YR OLD ROOF

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1910
• Construction: Shingle roof
• Exterior features: Screened front porch; Level lot; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood in living, dining, and at least one bedroom; Luxury vinyl plank in one bedroom; Vinyl flooring in kitchen; Other flooring on screened front porch
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Radon mitigation system; Full unfinished basement
• Laundry & utility: Washer and dryer (laundry room in basement)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $8 ($94/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 $102k (7.5% below list).
• Recommended offer: $102k (7.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: 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 (+12.2%/yr); 107 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 $761 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y 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 $73k; list at $110k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,770 (7.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 0.93% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $99,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 E Spruce St	0.21mi	2/1.0	982 (+9%)	6mo	$108,000	$110	70
1724 S Spring St	0.23mi	1/1.0 (-1)	826 (-8%)	0mo	$62,000	$75	70
2224 S 9th St	0.52mi	2/1.5	861 (-4%)	4mo	$130,000	$151	63
2036 S 4th St	0.22mi	2/1.0	1,027 (+14%)	5mo	$87,000	$85	62
618 W Laurel St	0.57mi	2/1.0	864 (-4%)	6mo	$99,500	$115	62
37 Belle Pl	0.45mi	2/1.0	808 (-10%)	2mo	$59,900	$74	60
2356 S 9th St	0.68mi	2/1.0	934 (+4%)	2mo	$80,000	$86	60
2404 S Whittier Ave	0.65mi	2/1.0	848 (-6%)	2mo	$96,000	$113	58
1816 S Lowell Ave	0.49mi	2/1.0	1,001 (+11%)	1mo	$145,000	$145	57
2357 S 8th St	0.63mi	2/1.0	965 (+7%)	5mo	$124,000	$128	54
2360 S 9th St	0.68mi	2/1.5	974 (+8%)	2mo	$70,000	$72	51
300 W Lenox Ave	0.73mi	2/1.0	790 (-12%)	2mo	$67,500	$85	44

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.61×
• Total profit: $-11,911
• Equity at exit: $16,401

10-year hold

• IRR: 5.3%
• Equity multiple: 1.48×
• Total profit: $14,899
• Equity at exit: $9,511

Cash invested: $30,800 (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 62703

• Home prices YoY: -28.9%
• Rents YoY: 12.2%
• Active inventory: 107
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,018 high
• Mortgage (P&I): −$577
• Tax from tax record: −$173 /mo · $2,082/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $8

Break-even live

Break-even rent $1,008

Max offer price $110,000

Occupancy floor 94%

Sensitivity live

Price	-10% $70	-5% $39	+0% $8	+5% $-23	+10% $-54
Rent	-10% $-73	-5% $-32	+0% $8	+5% $48	+10% $88
Rate	-1.0pp $63	-0.5pp $36	base $8	+0.5pp $-21	+1.0pp $-50

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1908 S 4th St Springfield, IL	1.0	1.0	800	$850	$1.06	21d	1	0.08mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	21d	1	0.34mi
1501 S Spring St Springfield, IL	2.0	1.0	1000	$1,000	$1.00	21d	1	0.35mi
1500 S Lowell Ave Springfield, IL	1.0	1.0	590	$775	$1.31	44d	1	0.54mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	44d	1	0.59mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	0.67mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	44d	1	0.68mi
1004 S College St Springfield, IL	1.0	1.0	700	$800	$1.14	21d	1	0.72mi
909 S 8th St Unit 4 Springfield, IL	1.0	1.0	550	$800	$1.45	21d	1	0.85mi
604 Bryn Mawr Blvd Springfield, IL	2.0	1.0	850	$1,100	$1.29	44d	1	0.88mi
417 E Cook St Springfield, IL	1.0	1.0	700	$875	$1.25	44d	1	0.98mi
417 E Cook St Unit A Springfield, IL	1.0	1.0	550	$850	$1.55	21d	1	0.98mi
619 S 5th St Springfield, IL	1.0	1.0	750	$900	$1.20	44d	1	0.99mi
423 W Lawrence Ave Unit 2 Springfield, IL	2.0	1.0	900	$1,050	$1.17	21d	1	1.02mi
616 New St Springfield, IL	1.0	1.0	550	$850	$1.55	44d	1	1.12mi
2715 S MacArthur Blvd Unit 01 Springfield, IL	2.0	1.5	935	$975	$1.04	44d	1	1.27mi
2005 E Laurel St Springfield, IL	2.0	1.0	900	$1,000	$1.11	44d	1	1.33mi
8 S Old State Capitol Plz Unit 1031831P Springfield, IL	2.0	2.0	990	$2,927	$2.96	44d	1	1.35mi
6 Ridge Ct Springfield, IL	3.0	1.0	905	$1,350	$1.49	44d	1	1.41mi

Listing history 12 events

1. 2026-06-05
   status $110,000 Pending 8 DOM
2. 2026-06-03
   days on market $110,000 Active 8 DOM
3. 2026-06-02
   days on market $110,000 Active 7 DOM
4. 2026-06-01
   days on market $110,000 Active 6 DOM
5. 2026-06-01
   price $110,000 Active 5 DOM
6. 2026-05-31
   days on market $115,000 Active 5 DOM
7. 2026-05-30
   days on market $115,000 Active 4 DOM
8. 2026-05-26
   listed $115,000 Active
9. 2008-05-09
   soldstatus $73,000
10. 2002-08-08
    soldstatus $63,500
11. 2002-07-30
    soldstatus $63,400 304-char remark

    Show marketing remark (304 chars)

    Enjoy Your Summer On The New Screened-In Porch!Darling Bungalow Has Loads Of Updates. 9 Foot Ceilings, Hardwood Floors, French Doors, New Kitchen Linoleum, New A/C, Furnace, 100 Amp Electrical, Newer Piping. Hot Water Heater 4 Years Old. Remodeled Jack & Jill Style Bathroom In 6/02. Freshly Painted.

12. 2002-07-01
    listed $63,900 304-char remark

    Show marketing remark (304 chars)

    Enjoy Your Summer On The New Screened-In Porch!Darling Bungalow Has Loads Of Updates. 9 Foot Ceilings, Hardwood Floors, French Doors, New Kitchen Linoleum, New A/C, Furnace, 100 Amp Electrical, Newer Piping. Hot Water Heater 4 Years Old. Remodeled Jack & Jill Style Bathroom In 6/02. Freshly Painted.

ⓘ 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: $2,082 · $173/mo
• Projected year-2 tax: $2,289 · $191/mo
• Expected delta: +$208/yr (+$17/mo · 10.0%)

ⓘ 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 2% 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: $12,212
• − Mortgage interest: −$6,162
• − Property taxes: −$2,082
• − Insurance: −$550
• − Repairs & maintenance: −$977
• − Management: −$977
• − Depreciation: −$3,200
• Taxable loss: −$1,735
• Est. tax savings @ 24.0%: +$416
• After-tax cash flow: $510/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): 28,922
• Household income: $45,009
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1626.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Black 35% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Arabic 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: ▼ -59.69%
• Current HPI: 147.0877
• Rent YoY: ▲ 12.19%
• 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

+80.0% since first listed

5 events — show timeline

• 2026-05-26 Listed $115,000 RMLSA as Distributed by MLS Grid
• 2008-05-09 Sold (Public Records) $73,000 Public Records
• 2002-08-08 Sold (Public Records) $63,500 Public Records
• 2002-07-30 Sold (MLS) $63,400 RMLSA as Distributed by MLS Grid
• 2002-07-01 Listed $63,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2025): $2,082 · +5.1% YoY. Source: county tax records.