2628 S 5th St · Springfield, IL 62703

$145,000

3 bd · 2.0 ba · 1,280 sqft · SingleFamily · 4 Days on market

Built 1960 6,080 sqft lot Est $100k · 45% over

---

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 +14.7/30.0
• Rent growth +5.0/5.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• 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

Well-maintained 3BR property with excellent visibility. Main level features a spacious living room, dining room, and kitchen with three bedrooms and a full bath upstairs. Basement offers a bath, laundry area, and abundant storage. Property has been improved over the years with replacement windows, a detached 2.5-car garage, and a paved parking area. Convenient access from both 5th and 6th Streets. Ideal for residential living with potential home-based business use. information is deemed accurate but not guaranteed.

Key facts

• Paved parking area
• Convenient access
• Abundant storage

Tags

• SPACIOUS LIVING ROOM
• ABUNDANT STORAGE
• REPLACEMENT WINDOWS
• DETACHED GARAGE
• PAVED PARKING AREA
• CONVENIENT ACCESS

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Built in 1960; Shingle roof
• Exterior features: Level lot; Lot dimensions approximately 40 x 152

Interior

• Kitchen: Kitchen on main level (approx. 12 x 12.6)
• Bedrooms: 3 bedrooms (upper level bedrooms measure approximately 16 x 9.02, 11 x 9.06, and 12 x 10 respectively)
• Flooring: Laminate flooring in bedrooms and main living areas
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full unfinished basement; No fireplaces reported
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $37 ($439/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 $131k (9.3% below list).
• Recommended offer: $131k (9.3% 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: Harvard Park Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 346 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; 14 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 35% 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 $1k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $131,474 (9.3% below list)

Questions for the listing agent

1. Built in 1960 — 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: 0.91% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.08%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $99,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2623 S 7th St	0.11mi	3/2.0	1,270 (-1%)	2mo	$152,500	$120	92
2537 S 5th St	0.13mi	2/1.0 (-1)	1,100 (-14%)	2mo	$95,000	$86	60
66 Ruth Ct	0.60mi	3/1.0	1,244 (-3%)	6mo	$92,000	$74	58
2340 S 7th St	0.39mi	4/1.5 (+1)	1,404 (+10%)	0mo	$85,000	$61	58
49 Ruth Ct	0.58mi	2/1.0 (-1)	1,260 (-2%)	5mo	$98,000	$78	57
2945 S 3rd St	0.46mi	2/1.5 (-1)	1,374 (+7%)	4mo	$145,000	$106	56
9 Ruth Ct	0.65mi	3/1.0	1,223 (-4%)	5mo	$93,000	$76	54
2545 Burton Dr	0.19mi	2/1.0 (-1)	1,092 (-15%)	5mo	$74,000	$68	53
3100 S 5th St	0.61mi	4/2.0 (+1)	1,389 (+8%)	1mo	$180,000	$130	51
2161 S 10th St	0.72mi	2/1.0 (-1)	1,306 (+2%)	6mo	$30,000	$23	49
2241 S 12th St	0.74mi	3/1.0	1,200 (-6%)	5mo	$89,900	$75	47
512 Broad Pl	0.50mi	2/1.0 (-1)	1,450 (+13%)	1mo	$119,900	$83	45

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: -9.1%
• Equity multiple: 0.65×
• Total profit: $-14,198
• Equity at exit: $21,620

10-year hold

• IRR: 6.0%
• Equity multiple: 1.55×
• Total profit: $22,341
• Equity at exit: $12,537

Cash invested: $40,600 (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: 9.2×

Monthly cashflow live

• Estimated rent: $1,315 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $37

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 92%

Sensitivity live

Price	-10% $137	-5% $87	+0% $37	+5% $-14	+10% $-64
Rent	-10% $-67	-5% $-15	+0% $37	+5% $89	+10% $140
Rate	-1.0pp $110	-0.5pp $73	base $37	+0.5pp $-1	+1.0pp $-39

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	45d	1	0.54mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	45d	1	0.60mi
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	45d	1	0.80mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	23d	1	0.99mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	45d	1	1.06mi
2715 S MacArthur Blvd Unit 01 Springfield, IL	2.0	1.5	935	$975	$1.04	45d	1	1.11mi
6 Ridge Ct Springfield, IL	3.0	1.0	905	$1,350	$1.49	45d	1	1.13mi
2949 Fox Bridge Rd Springfield, IL	2.0	1.0	900	$960	$1.07	23d	1	1.15mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	23d	1	1.17mi
1501 S Spring St Springfield, IL	2.0	1.0	1000	$1,000	$1.00	23d	1	1.20mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	23d	1	1.26mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	45d	1	1.26mi
12 Douglas Ct Springfield, IL	3.0	1.0	1000	$1,300	$1.30	23d	1	1.31mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	45d	1	1.45mi

Listing history 4 events

1. 2026-06-22
   days on market $145,000 Active 4 DOM
2. 2026-06-19
   days on market $145,000 Active 2 DOM
3. 2026-06-17
   remarks 520-char remark
4. 2026-06-17
   listed $145,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,777
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$4,218
• Taxable loss: −$1,988
• Est. tax savings @ 24.0%: +$477
• After-tax cash flow: $916/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

3 events — show timeline

• 2026-06-17 Listed $145,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2019-11-22 Listing Removed — RMLSA as Distributed by MLS Grid