143 S Wesley St · Springfield, IL 62703

$99,900

2 bd · 1.0 ba · 983 sqft · SingleFamily · 16 Days on market

Built 1930 4,320 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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +6.1/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for your next rental or home? This property is a diamond in the rough—perfect for investors ready to add value and create steady income to add to the portfolio. With a little TLC and updates, this home has strong potential to cash flow extremely well and pay for itself. Whether you’re an experienced investor or just starting your portfolio, this property is an excellent opportunity to build long-term income. Bring your vision, make the improvements, and unlock the true potential of this cash-flowing investment!

Key facts

• New furnace
• New privacy fence
• New water heater

Tags

• NEW ROOF
• NEW FURNACE
• NEW AC
• NEW WATER HEATER
• NEW PRIVACY FENCE
• APPLIANCES INCLUDED

Property features AI

Exterior

• Parking: Parking pad (no garage)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1930; 983 total building area
• Construction: Shingle roof; Not new construction
• Exterior features: Fenced yard; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood in living room; Vinyl in kitchen; Carpet in bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Gas water heater
• Interior features: Ceiling fan(s); Electric fireplace (1)

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+12.2%/yr); 107 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); 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 $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 + 8.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $30k; list at $100k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $98,401 (1.5% 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. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $53,082
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 S Wesley St	0.00mi	2/1.0	895 (-9%)	7mo	$30,000	$34	79
222 S David St	0.23mi	3/1.0 (+1)	960 (-2%)	2mo	$49,000	$51	79
404 N Daniel Ave	0.37mi	2/1.0	913 (-7%)	6mo	$10,000	$11	66
2912 E Enos Ave	0.57mi	2/1.0	998 (+2%)	9mo	$94,500	$95	63
253 White City Blvd	0.21mi	2/1.0	840 (-14%)	4mo	$40,000	$48	63
417 N Stephens Ave	0.37mi	3/1.0 (+1)	1,054 (+7%)	11mo	$65,000	$62	56
2117 E Monroe St	0.49mi	2/1.0	865 (-12%)	8mo	$25,000	$29	51
908 E 23rd St	0.69mi	3/1.0 (+1)	1,008 (+2%)	11mo	$36,000	$36	49
29 Melody Ln	0.71mi	3/1.0 (+1)	900 (-8%)	2mo	$115,000	$128	46
428 N Stephens Ave	0.39mi	3/1.0 (+1)	1,102 (+12%)	15mo	$129,900	$118	44
907 N Daniel Ave	0.75mi	1/1.0 (-1)	918 (-7%)	9mo	$60,000	$65	42
2013 E Adams St	0.61mi	2/1.0	1,113 (+13%)	10mo	$60,000	$54	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $182
• Equity at exit: $14,895

10-year hold

• IRR: 14.5%
• Equity multiple: 2.45×
• Total profit: $40,420
• Equity at exit: $8,638

Cash invested: $27,972 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,107 high
• Mortgage (P&I): −$524
• Tax from tax record: −$145 /mo · $1,736/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $165

Break-even live

Break-even rent $899

Max offer price $99,900

Occupancy floor 80%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
302 Forrest Ave Springfield, IL	3.0	2.0	924	$1,069	$1.16	21d	1	0.28mi
507 S Wesley St Springfield, IL	2.0	1.0	800	$975	$1.22	43d	1	0.31mi
3064 Louise Ln Springfield, IL	3.0	1.0	1100	$1,350	$1.23	21d	1	0.95mi
920 N 19th St Springfield, IL	3.0	1.0	1000	$1,100	$1.10	21d	1	1.07mi
1036 N Indiana Ave Springfield, IL	2.0	1.0	672	$1,100	$1.64	43d	1	1.14mi
2277 E Laurel St Springfield, IL	2.0	1.0	600	$1,145	$1.91	43d	1	1.25mi
2271 E Laurel St Apt 2277 Springfield, IL	2.0	1.0	600	$1,145	$1.91	21d	1	1.25mi
2281 E Keys Ave Springfield, IL	2.0	1.0	800	$1,200	$1.50	43d	1	1.30mi
2005 E Laurel St Springfield, IL	2.0	1.0	900	$1,000	$1.11	43d	1	1.36mi

Listing history 13 events

1. 2026-06-16
   days on market $99,900 Active 16 DOM
2. 2026-06-15
   days on market $99,900 Active 15 DOM
3. 2026-06-14
   days on market $99,900 Active 13 DOM
4. 2026-06-13
   days on market $99,900 Active 12 DOM
5. 2026-06-10
   days on market $99,900 Active 10 DOM
6. 2026-06-09
   days on market $99,900 Active 9 DOM
7. 2026-06-08
   days on market $99,900 Active 8 DOM
8. 2026-06-07
   days on market $99,900 Active 7 DOM
9. 2026-06-05
   days on market $99,900 Active 4 DOM
10. 2026-06-03
    days on market $99,900 Active 3 DOM
11. 2026-06-02
    days on market $99,900 Active 2 DOM
12. 2026-06-01
    remarks 280-char remark
13. 2026-06-01
    listed $99,900 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: $1,736 · $145/mo
• Projected year-2 tax: $2,002 · $167/mo
• Expected delta: +$266/yr (+$22/mo · 15.3%)

ⓘ 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,290
• − Mortgage interest: −$5,596
• − Property taxes: −$1,736
• − Insurance: −$500
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$2,906
• Taxable income: $425
• Est. tax owed @ 24.0%: −$102
• After-tax cash flow: $1,874/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

• 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

+99.8% since first listed

14 events — show timeline

• 2026-05-31 Listed $99,900 RMLSA as Distributed by MLS Grid
• 2025-11-26 Sold (MLS) $30,000 RMLSA as Distributed by MLS Grid
• 2025-11-26 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2025-11-20 Pending — RMLSA as Distributed by MLS Grid
• 2025-11-18 Price Changed $40,000 RMLSA as Distributed by MLS Grid
• 2025-11-04 Price Changed $50,000 RMLSA as Distributed by MLS Grid
• 2025-10-04 Listed $55,000 RMLSA as Distributed by MLS Grid
• 2025-10-04 Listed $40,000 MRED as Distributed by MLS Grid
• 2024-03-08 Sold (MLS) $40,000 RMLSA as Distributed by MLS Grid
• 2024-02-22 Pending — RMLSA as Distributed by MLS Grid
• 2024-02-08 Relisted — RMLSA as Distributed by MLS Grid
• 2024-01-20 Pending — RMLSA as Distributed by MLS Grid
• 2024-01-17 Listed $50,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2025): $1,736 · +0.2% YoY. Source: county tax records.