2105 S 15th St · Springfield, IL 62703

$45,199

2 bd · 1.0 ba · 896 sqft · Other · 35 Days on market

5,885 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

LOTS OF POTENTIAL IN THIS TWO BEDROOM HOME. NEW FURNACE. PROPERTY WILL BE SOLD AS-IS, WHERE-IS. LOAN PRE-APPROVAL LETTER OR PROOF OF CASH FUNDS NEEDED WITH ALL OFFERS. SQ.FOOTAGE BELIEVED TO BE ACCURATE BUT NOT WARRANTED.

Key facts

• 5,885 sq ft lot
• Parking
• Listed 34 days

Property features AI

Finance

• Other: Possession at closing
• Financial info: Special service area not required
• HOA & community: No master association fee required

Exterior

• Parking: One parking space
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One story; Fee simple ownership; Not rebuilt or rehabilitated; Built before 1978
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Lot dimensions approximately 40 x 147.13; Lot under 0.25 acre

Interior

• Kitchen: Kitchen on main level (approx. 9 x 8)
• Bedrooms: Master bedroom on main level (approx. 8 x 8); Second bedroom on main level (approx. 8 x 8); Additional bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Forced air
• Interior features: Estimated living area; Three total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $45k.

Deal economics

• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.9% 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; 22 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% 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 $312 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,843 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.34% ✓
• Cap rate: 19.92%
• Cash-on-cash: 48.66%
• DSCR: 3.17
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 46.3%
• Equity multiple: 3.17×
• Total profit: $27,468
• Equity at exit: $6,739

10-year hold

• IRR: 54.4%
• Equity multiple: 7.88×
• Total profit: $87,106
• Equity at exit: $3,908

Cash invested: $12,656 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,057 high
• Mortgage (P&I): −$237
• Tax from tax record: −$66 /mo · $791/yr
• Insurance: −$19
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $458

Break-even live

Break-even rent $478

Max offer price $45,199

Occupancy floor 52%

Sensitivity live

Price	-10% $483	-5% $470	+0% $458	+5% $445	+10% $432
Rent	-10% $374	-5% $416	+0% $458	+5% $499	+10% $541
Rate	-1.0pp $480	-0.5pp $469	base $458	+0.5pp $446	+1.0pp $434

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: $11,300
• Closing costs: $1,356
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	45d	1	0.49mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	45d	1	0.52mi
2005 E Laurel St Springfield, IL	2.0	1.0	900	$1,000	$1.11	45d	1	0.57mi
6 Ridge Ct Springfield, IL	3.0	1.0	905	$1,350	$1.49	45d	1	0.68mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	22d	1	0.75mi
2271 E Laurel St Apt 2277 Springfield, IL	2.0	1.0	600	$1,145	$1.91	22d	1	0.80mi
2277 E Laurel St Springfield, IL	2.0	1.0	600	$1,145	$1.91	45d	1	0.80mi
1908 S 4th St Springfield, IL	1.0	1.0	800	$850	$1.06	22d	1	0.80mi
604 Bryn Mawr Blvd Springfield, IL	2.0	1.0	850	$1,100	$1.29	45d	1	0.97mi
909 S 8th St Unit 4 Springfield, IL	1.0	1.0	550	$800	$1.45	22d	1	1.05mi
1501 S Spring St Springfield, IL	2.0	1.0	1000	$1,000	$1.00	22d	1	1.16mi
2949 Fox Bridge Rd Springfield, IL	2.0	1.0	900	$960	$1.07	22d	1	1.16mi
417 E Cook St Unit A Springfield, IL	1.0	1.0	550	$850	$1.55	22d	1	1.34mi
417 E Cook St Springfield, IL	1.0	1.0	700	$875	$1.25	45d	1	1.34mi
619 S 5th St Springfield, IL	1.0	1.0	750	$900	$1.20	45d	1	1.35mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	22d	1	1.36mi
1004 S College St Springfield, IL	1.0	1.0	700	$800	$1.14	22d	1	1.38mi
1500 S Lowell Ave Springfield, IL	1.0	1.0	590	$775	$1.31	45d	1	1.38mi
2473 Ladley Ct Springfield, IL	1.0	1.0	580	$725	$1.25	45d	1	1.44mi
2473 Ladley Ct Unit 2412-1 L Springfield, IL	2.0	1.0	700	$725	$1.04	45d	1	1.44mi
2473 Ladley Ct Unit 2520-8 RR Springfield, IL	1.0	1.0	580	$600	$1.03	45d	1	1.44mi
2473 Ladley Ct Unit 2108-2 B Springfield, IL	2.0	1.0	700	$825	$1.18	45d	1	1.44mi

Listing history 21 events

1. 2026-06-19
   days on market $45,199 Active 35 DOM
2. 2026-06-18
   days on market $45,199 Active 34 DOM
3. 2026-06-17
   days on market $45,199 Active 33 DOM
4. 2026-06-16
   days on market $45,199 Active 32 DOM
5. 2026-06-15
   days on market $45,199 Active 31 DOM
6. 2026-06-14
   days on market $45,199 Active 29 DOM
7. 2026-06-13
   days on market $45,199 Active 28 DOM
8. 2026-06-10
   days on market $45,199 Active 26 DOM
9. 2026-06-09
   days on market $45,199 Active 25 DOM
10. 2026-06-08
    days on market $45,199 Active 24 DOM
11. 2026-06-07
    days on market $45,199 Active 23 DOM
12. 2026-06-05
    days on market $45,199 Active 20 DOM
13. 2026-06-03
    days on market $45,199 Active 19 DOM
14. 2026-06-02
    days on market $45,199 Active 18 DOM
15. 2026-06-01
    days on market $45,199 Active 17 DOM
16. 2026-05-31
    days on market $45,199 Active 16 DOM
17. 2026-05-30
    days on market $45,199 Active 15 DOM
18. 2025-02-03
    soldstatus $705,000
19. 2021-08-06
    historical
20. 2010-05-19
    soldstatus $5,000 221-char remark

    Show marketing remark (221 chars)

    LOTS OF POTENTIAL IN THIS TWO BEDROOM HOME. NEW FURNACE. PROPERTY WILL BE SOLD AS-IS, WHERE-IS. LOAN PRE-APPROVAL LETTER OR PROOF OF CASH FUNDS NEEDED WITH ALL OFFERS. SQ.FOOTAGE BELIEVED TO BE ACCURATE BUT NOT WARRANTED.

21. 2010-03-10
    listed $9,900 221-char remark

    Show marketing remark (221 chars)

    LOTS OF POTENTIAL IN THIS TWO BEDROOM HOME. NEW FURNACE. PROPERTY WILL BE SOLD AS-IS, WHERE-IS. LOAN PRE-APPROVAL LETTER OR PROOF OF CASH FUNDS NEEDED WITH ALL OFFERS. SQ.FOOTAGE BELIEVED TO BE ACCURATE BUT NOT WARRANTED.

ⓘ 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: $791 · $66/mo
• Projected year-2 tax: $909 · $76/mo
• Expected delta: +$117/yr (+$10/mo · 14.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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 100% 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: $12,684
• − Mortgage interest: −$2,532
• − Property taxes: −$791
• − Insurance: −$892
• − Repairs & maintenance: −$1,015
• − Management: −$1,015
• − Depreciation: −$1,315
• Taxable income: $5,124
• Est. tax owed @ 24.0%: −$1,230
• After-tax cash flow: $4,262/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

+7021.2% since first listed

4 events — show timeline

• 2025-02-03 Sold (Public Records) $705,000 Public Records
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2010-05-19 Sold (MLS) $5,000 RMLSA as Distributed by MLS Grid
• 2010-03-10 Listed $9,900 RMLSA as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2024): $791 · +4.0% YoY. Source: county tax records.