1733 S Spring St · Springfield, IL 62704

$72,000

3 bd · 2.0 ba · 1,348 sqft · Other · 42 Days on market

Built 1905 5,824 sqft lot $53/sqft · 42% below area Est $124k · 42% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just Reduced! Great use of space in this beauty! Updates throughout and ready for new owners. Better hurry to this one. Furnace and c/a new in 2019. New interior paint. New garage entry door, gutters and downspouts. New fire pit and fire pit area in back yard. New updates in main floor full bath. Must see to fully appreciate all this home has to offer.

Key facts

• Front covered porch
• Walk-in closet
• Bonus room

Tags

• FRONT COVERED PORCH
• REAR COVERED PATIO
• FENCED BACKYARD
• JACK-N-JILL BATHROOM
• BONUS ROOM
• WALK-IN CLOSET

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1905; Unfinished partial crawl space basement
• Construction: Shingle roof; Not new construction
• Exterior features: Fenced lot; Level lot

Interior

• Kitchen: Microwave; Refrigerator; Tile kitchen floor
• Bedrooms: 3 bedrooms (Bedroom 1 on main level, Bedroom 2 on main level, Bedroom 3 on upper level); Bedrooms have egress windows
• Flooring: Hardwood in living and dining areas and two bedrooms; Carpet in one bedroom; Laminate in upper-level bedroom; Tile in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric and baseboard heating; Forced air; Gas water heater
• Interior features: Ceiling fans
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $72k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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 (+6.3%/yr); 177 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $498 of loan paydown is wiped out by about $2k 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 + 6.3% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,840 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.79% ✓
• Cap rate: 12.16%
• Cash-on-cash: 20.95%
• DSCR: 1.93
• GRM: 4.6

CMA / ARV

• ARV (median comp): $123,707
• List price: $72,000
• Delta: -41.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.32% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.76×
• Total profit: $15,331
• Equity at exit: $10,735

10-year hold

• IRR: 29.0%
• Equity multiple: 4.09×
• Total profit: $62,304
• Equity at exit: $6,225

Cash invested: $20,160 (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: 177
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,292 high
• Mortgage (P&I): −$378
• Tax from tax record: −$261 /mo · $3,129/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $352

Break-even live

Break-even rent $846

Max offer price $72,000

Occupancy floor 68%

Sensitivity live

Price	-10% $393	-5% $372	+0% $352	+5% $332	+10% $311
Rent	-10% $250	-5% $301	+0% $352	+5% $403	+10% $454
Rate	-1.0pp $388	-0.5pp $370	base $352	+0.5pp $333	+1.0pp $314

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1501 S Spring St Springfield, IL	2.0	1.0	1000	$1,000	$1.00	21d	1	0.19mi
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	44d	1	0.23mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	44d	1	0.43mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	21d	1	0.47mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	44d	1	0.49mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	21d	1	0.49mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	0.54mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	44d	1	0.69mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	44d	1	0.80mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	44d	1	0.88mi
423 W Lawrence Ave Unit 2 Springfield, IL	2.0	1.0	900	$1,050	$1.17	21d	1	0.89mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	21d	1	0.91mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	44d	1	0.98mi
2715 S MacArthur Blvd Unit 01 Springfield, IL	2.0	1.5	935	$975	$1.04	44d	1	1.16mi
922 Governor St Springfield, IL	3.0	1.0	1682	$1,200	$0.71	44d	1	1.24mi
8 S Old State Capitol Plz Unit 1031831P Springfield, IL	2.0	2.0	990	$2,927	$2.96	44d	1	1.32mi
400 E Jefferson St Springfield, IL	2.0	1.0	1420	$1,220	$0.86	44d	1	1.46mi
1929 E Spruce St Springfield, IL	3.0	1.0	1500	$1,300	$0.87	44d	1	1.48mi

Listing history 35 events

1. 2026-06-19
   days on market $72,000 Active 42 DOM
2. 2026-06-18
   days on market $72,000 Active 41 DOM
3. 2026-06-17
   days on market $72,000 Active 40 DOM
4. 2026-06-16
   days on market $72,000 Active 39 DOM
5. 2026-06-15
   days on market $72,000 Active 38 DOM
6. 2026-06-14
   days on market $72,000 Active 36 DOM
7. 2026-06-13
   pricedays on market $72,000 Active 35 DOM
8. 2026-06-10
   days on market $77,000 Active 33 DOM
9. 2026-06-09
   days on market $77,000 Active 32 DOM
10. 2026-06-08
    days on market $77,000 Active 31 DOM
11. 2026-06-07
    days on market $77,000 Active 30 DOM
12. 2026-06-05
    days on market $77,000 Active 27 DOM
13. 2026-06-03
    days on market $77,000 Active 26 DOM
14. 2026-06-02
    days on market $77,000 Active 25 DOM
15. 2026-06-01
    days on market $77,000 Active 24 DOM
16. 2026-05-31
    days on market $77,000 Active 23 DOM
17. 2026-05-30
    days on market $77,000 Active 22 DOM
18. 2026-05-08
    listed $77,000 Active 527-char remark
19. 2022-01-31
    soldstatus $100,000
20. 2022-01-27
    soldstatus $100,000 354-char remark

    Show marketing remark (354 chars)

    Just Reduced! Great use of space in this beauty! Updates throughout and ready for new owners. Better hurry to this one. Furnace and c/a new in 2019. New interior paint. New garage entry door, gutters and downspouts. New fire pit and fire pit area in back yard. New updates in main floor full bath. Must see to fully appreciate all this home has to offer.

21. 2021-11-28
    listed $99,900 354-char remark

    Show marketing remark (354 chars)

    Just Reduced! Great use of space in this beauty! Updates throughout and ready for new owners. Better hurry to this one. Furnace and c/a new in 2019. New interior paint. New garage entry door, gutters and downspouts. New fire pit and fire pit area in back yard. New updates in main floor full bath. Must see to fully appreciate all this home has to offer.

22. 2021-08-06
    historical
23. 2021-08-06
    historical
24. 2021-08-06
    historical
25. 2021-08-06
    historical
26. 2021-08-06
    historical
27. 2019-05-09
    soldstatus $79,000
28. 2019-04-26
    soldstatus $79,000
29. 2019-03-01
    listed $84,900
30. 2009-10-16
    soldstatus $75,500
31. 2009-10-15
    soldstatus $75,250
32. 2009-07-13
    listed $78,900
33. 2004-10-07
    soldstatus $53,500
34. 2004-09-30
    soldstatus $53,500
35. 2004-05-19
    listed $57,000

ⓘ 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: $3,129 · $261/mo
• Projected year-2 tax: $3,129 · $261/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $15,498
• − Mortgage interest: −$4,033
• − Property taxes: −$3,129
• − Insurance: −$360
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − Depreciation: −$2,095
• Taxable income: $3,401
• Est. tax owed @ 24.0%: −$816
• After-tax cash flow: $3,407/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

+26.3% since first listed

19 events — show timeline

• 2026-06-11 Price Changed $72,000 RMLSA as Distributed by MLS Grid
• 2026-05-08 Listed $77,000 RMLSA as Distributed by MLS Grid
• 2022-01-31 Sold (Public Records) $100,000 Public Records
• 2022-01-27 Sold (MLS) $100,000 RMLSA as Distributed by MLS Grid
• 2021-11-28 Listed $99,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2019-05-09 Sold (Public Records) $79,000 Public Records
• 2019-04-26 Sold (MLS) $79,000 RMLSA as Distributed by MLS Grid
• 2019-03-01 Listed $84,900 RMLSA as Distributed by MLS Grid
• 2009-10-16 Sold (Public Records) $75,500 Public Records
• 2009-10-15 Sold (MLS) $75,250 RMLSA as Distributed by MLS Grid
• 2009-07-13 Listed $78,900 RMLSA as Distributed by MLS Grid
• 2004-10-07 Sold (Public Records) $53,500 Public Records
• 2004-09-30 Sold (MLS) $53,500 RMLSA as Distributed by MLS Grid
• 2004-05-19 Listed $57,000 RMLSA as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $3,129 · +3.4% YoY. Source: county tax records.