2313 S 13th St · Springfield, IL 62703

$75,000

3 bd · 1.0 ba · 1,125 sqft · Land · 94 Days on market

Built 1920 5,960 sqft lot $67/sqft · 18% above area Est $64k · 18% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• 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 MLS

This charming 3-bedroom, 1-bath home offers a great opportunity for both investors and owner-occupants alike. Conveniently located near downtown Springfield, the property provides quick access to shopping, dining, entertainment, and major roadways. Inside, you’ll find a functional layout with three comfortable bedrooms, a full bathroom, and living spaces ready for your personal touch. Whether you’re looking to expand your rental portfolio or searching for an affordable place to call home, this property has plenty of potential. The home sits in an established neighborhood just minutes from downtown amenities, local restaurants, retail, and everyday conveniences. With its central location and solid layout, it presents a great chance to build equity or generate rental income.

Key facts

• Central location
• Functional layout
• 5,960 sq ft lot

Tags

• FUNCTIONAL LAYOUT
• ESTABLISHED NEIGHBORHOOD
• CENTRAL LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath land listed at $75k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.0% 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; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% 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 $519 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 + 8.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $58k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.66% ✓
• Cap rate: 14.98%
• Cash-on-cash: 31.02%
• DSCR: 2.38
• GRM: 5.0

CMA / ARV

• ARV (median comp): $63,619
• List price: $75,000
• Delta: 17.89%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.0%
• Equity multiple: 2.38×
• Total profit: $28,967
• Equity at exit: $11,183

10-year hold

• IRR: 40.7%
• Equity multiple: 5.74×
• Total profit: $99,544
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$393
• Tax from tax record: −$15 /mo · $181/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $543

Break-even live

Break-even rent $557

Max offer price $75,000

Occupancy floor 51%

Sensitivity live

Price	-10% $585	-5% $564	+0% $543	+5% $522	+10% $500
Rent	-10% $445	-5% $494	+0% $543	+5% $592	+10% $641
Rate	-1.0pp $581	-0.5pp $562	base $543	+0.5pp $523	+1.0pp $504

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 18 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	44d	1	0.29mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	44d	1	0.31mi
6 Ridge Ct Springfield, IL	3.0	1.0	905	$1,350	$1.49	44d	1	0.56mi
604 Bryn Mawr Blvd Springfield, IL	2.0	1.0	850	$1,100	$1.29	44d	1	0.70mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	44d	1	0.79mi
1929 E Spruce St Springfield, IL	3.0	1.0	1500	$1,300	$0.87	44d	1	0.82mi
2005 E Laurel St Springfield, IL	2.0	1.0	900	$1,000	$1.11	44d	1	0.83mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	21d	1	0.86mi
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	44d	1	0.87mi
2949 Fox Bridge Rd Springfield, IL	2.0	1.0	900	$960	$1.07	21d	1	0.94mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	44d	1	0.96mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	21d	1	0.96mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	44d	1	1.05mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	44d	1	1.05mi
1501 S Spring St Springfield, IL	2.0	1.0	1000	$1,000	$1.00	21d	1	1.19mi
2473 Ladley Ct Unit 2108-2 B Springfield, IL	2.0	1.0	700	$825	$1.18	44d	1	1.30mi
2473 Ladley Ct Unit 2412-1 L Springfield, IL	2.0	1.0	700	$725	$1.04	44d	1	1.30mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	1.45mi

Listing history 25 events

1. 2026-06-19
   days on market $75,000 Active 94 DOM
2. 2026-06-18
   days on market $75,000 Active 93 DOM
3. 2026-06-17
   days on market $75,000 Active 92 DOM
4. 2026-06-16
   days on market $75,000 Active 91 DOM
5. 2026-06-15
   days on market $75,000 Active 90 DOM
6. 2026-06-14
   days on market $75,000 Active 88 DOM
7. 2026-06-13
   days on market $75,000 Active 87 DOM
8. 2026-06-10
   days on market $75,000 Active 85 DOM
9. 2026-06-09
   days on market $75,000 Active 84 DOM
10. 2026-06-08
    days on market $75,000 Active 83 DOM
11. 2026-06-07
    days on market $75,000 Active 82 DOM
12. 2026-06-05
    days on market $75,000 Active 79 DOM
13. 2026-06-03
    days on market $75,000 Active 78 DOM
14. 2026-06-02
    days on market $75,000 Active 77 DOM
15. 2026-06-01
    days on market $75,000 Active 76 DOM
16. 2026-05-31
    days on market $75,000 Active 75 DOM
17. 2026-05-30
    days on market $75,000 Active 74 DOM
18. 2026-03-17
    listed $75,000 Active 795-char remark

    Show marketing remark (795 chars)

    This charming 3-bedroom, 1-bath home offers a great opportunity for both investors and owner-occupants alike. Conveniently located near downtown Springfield, the property provides quick access to shopping, dining, entertainment, and major roadways. Inside, you’ll find a functional layout with three comfortable bedrooms, a full bathroom, and living spaces ready for your personal touch. Whether you’re looking to expand your rental portfolio or searching for an affordable place to call home, this property has plenty of potential. The home sits in an established neighborhood just minutes from downtown amenities, local restaurants, retail, and everyday conveniences. With its central location and solid layout, it presents a great chance to build equity or generate rental income.

19. 2025-12-17
    historical
20. 2025-12-15
    historical
21. 2025-09-08
    listed Active
22. 2023-08-01
    soldstatus $57,500
23. 2015-04-20
    soldstatus $54,500
24. 2005-03-24
    soldstatus $27,000
25. 2004-11-08
    listed $27,900

ⓘ 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: $181 · $15/mo
• Projected year-2 tax: $942 · $78/mo
• Expected delta: +$761/yr (+$63/mo · 419.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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: $14,925
• − Mortgage interest: −$4,201
• − Property taxes: −$181
• − Insurance: −$375
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$2,182
• Taxable income: $5,598
• Est. tax owed @ 24.0%: −$1,343
• After-tax cash flow: $5,171/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

+168.8% since first listed

8 events — show timeline

• 2026-03-17 Listed $75,000 RMLSA as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-15 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-09-08 Listed — RMLSA as Distributed by MLS Grid
• 2023-08-01 Sold (Public Records) $57,500 Public Records
• 2015-04-20 Sold (Public Records) $54,500 Public Records
• 2005-03-24 Sold (MLS) $27,000 RMLSA as Distributed by MLS Grid
• 2004-11-08 Listed $27,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2024): $181 · +4.0% YoY. Source: county tax records.