3024 S 2nd St · Southern View, IL 62703

$109,900

3 bd · 1.0 ba · 1,044 sqft · SingleFamily · 2 Days on market

Built 1948 9,147 sqft lot Est $133k · 17% under

---

Why this score? — see what drove the B- 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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +6.4/10.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a home in Southern View with potential to update to your liking? This is the one! Great location! Grab your favorite Realtor and run to this fixer upper. Seller prefers to sell in as is condition with inspections welcome. Room dimensions are estimated. Sq ft deemed accurate but not guaranteed.

Key facts

• 9,147 sq ft lot
• Garage
• Built 1948

Property features AI

Finance

• Other: Lot dimensions approximately 47 x 199

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story main living area with additional upper, lower and basement levels noted
• Construction: Shingle roof; Built in 1948
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Other flooring in bedrooms, kitchen, and living areas
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: No basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

Location & tenants

• Location reads 82/100 on livability (#78 in IL, #1,278 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• 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: Southern View Elem School (math 5% / reading 5%, grade F, #1,741 of 2,056 statewide, top 93%, 140 students, 0% FRL); Jefferson Middle School (math 3% / reading 8%, grade F, #635 of 665 statewide, top 95%, 539 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 (+12.2%/yr); 107 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).
• This rent runs 33% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 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 + 8.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $110k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1948 — 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. 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?
4. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.08%
• DSCR: 1.36
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $132,588
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 E Apple Orchard Rd	0.09mi	2/1.0 (-1)	1,032 (-1%)	1mo	$150,000	$145	88
3163 Carman Ave	0.24mi	2/1.0 (-1)	1,020 (-2%)	6mo	$112,500	$110	74
3132 S 4th St	0.21mi	3/1.5	1,009 (-3%)	10mo	$129,900	$129	74
2925 4th St	0.19mi	2/1.0 (-1)	937 (-10%)	4mo	$125,000	$133	66
2913 S 5th St	0.27mi	2/1.0 (-1)	975 (-7%)	8mo	$127,000	$130	65
2621 S 4th St	0.54mi	2/2.0 (-1)	1,022 (-2%)	2mo	$130,000	$127	61
2545 Burton Dr	0.62mi	2/1.0 (-1)	1,092 (+5%)	5mo	$74,000	$68	54
2537 S 5th St	0.69mi	2/1.0 (-1)	1,100 (+5%)	2mo	$95,000	$86	52
2812 Holmes Ave	0.71mi	3/1.0	1,101 (+6%)	6mo	$136,000	$124	52
3420 S 4th St	0.55mi	2/2.0 (-1)	1,117 (+7%)	2mo	$155,000	$139	52
3305 Saint Francis Dr	0.73mi	3/1.0	1,137 (+9%)	2mo	$130,000	$114	49
2639 S 8th St	0.64mi	3/1.0	1,172 (+12%)	12mo	$99,500	$85	40

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: 1.6%
• Equity multiple: 1.07×
• Total profit: $2,031
• Equity at exit: $16,386

10-year hold

• IRR: 15.8%
• Equity multiple: 2.59×
• Total profit: $48,963
• Equity at exit: $9,502

Cash invested: $30,772 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,250 high
• Mortgage (P&I): −$576
• Tax from tax record: −$158 /mo · $1,898/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $207

Break-even live

Break-even rent $988

Max offer price $109,900

Occupancy floor 78%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
604 Bryn Mawr Blvd Springfield, IL	2.0	1.0	850	$1,100	$1.29	43d	1	0.67mi
12 Douglas Ct Springfield, IL	3.0	1.0	1000	$1,300	$1.30	21d	1	1.01mi
2715 S MacArthur Blvd Unit 01 Springfield, IL	2.0	1.5	935	$975	$1.04	43d	1	1.11mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	43d	1	1.12mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	43d	1	1.18mi
2949 Fox Bridge Rd Springfield, IL	2.0	1.0	900	$960	$1.07	21d	1	1.33mi
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	43d	1	1.34mi

Listing history 3 events

1. 2026-06-19
   statusdays on market $109,900 Under Contract 2 DOM
2. 2026-06-17
   remarks 306-char remark
3. 2026-06-17
   listed $109,900 Active 1 DOM

ⓘ 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: $1,898 · $158/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$298/yr (+$25/mo · 15.7%)

ⓘ 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: $15,001
• − Mortgage interest: −$6,156
• − Property taxes: −$1,898
• − Insurance: −$550
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,197
• Taxable income: $800
• Est. tax owed @ 24.0%: −$192
• After-tax cash flow: $2,295/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 — Southern View

• Score: 82/100
• State rank: #78
• US rank: #1278

Category grades

Amenities B Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southern View, IL
• County: Sangamon County · 115,414 people
• 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

+59.3% since first listed

7 events — show timeline

• 2026-06-16 Listed $109,900 RMLSA as Distributed by MLS Grid
• 2025-03-29 Rental Removed $1,495 PROPERTYWARE
• 2025-03-27 Listed for Rent $1,495 PROPERTYWARE
• 2025-03-27 Rental Removed $1,495 RMLSA
• 2025-02-27 Price Changed $1,495 RMLSA
• 2025-02-26 Listed for Rent $1,450 RMLSA
• 1998-08-12 Sold (Public Records) $69,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,898 · +90.3% YoY. Source: county tax records.