2001 S Spring St · Springfield, IL 62704

$109,900

4 bd · 2.0 ba · 1,282 sqft · Other · 59 Days on market

Built 1925 7,050 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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• 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

Investors take a look at this property that has great cash flow. Currently rented for $1,580 and lease is good through 10/31/2026. Landlord pays for trash and utilities paid by the tenant. Recent improvements include a kitchen update including a recently added dishwasher, new counter tops and sink. Several light fixtures replaced. Flooring on stairway. 4bedrooms and 2 baths make at this price makes this home an incredible value. Don't miss this opportunity!

Key facts

• New counter tops
• Kitchen update
• Flooring on stairway

Tags

• KITCHEN UPDATE
• RECENTLY ADDED DISHWASHER
• NEW COUNTER TOPS
• NEW SINK
• LIGHT FIXTURES REPLACED
• FLOORING ON STAIRWAY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 (+6.3%/yr); 177 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); 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 $760 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 + 6.3% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $84k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.34% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.80%
• DSCR: 1.57
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.6%
• Equity multiple: 1.27×
• Total profit: $8,263
• Equity at exit: $16,386

10-year hold

• IRR: 18.9%
• Equity multiple: 2.84×
• Total profit: $56,770
• Equity at exit: $9,502

Cash invested: $30,772 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,475 high
• Mortgage (P&I): −$576
• Tax from tax record: −$215 /mo · $2,575/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $328

Break-even live

Break-even rent $1,059

Max offer price $109,900

Occupancy floor 73%

Sensitivity live

Price	-10% $391	-5% $359	+0% $328	+5% $297	+10% $266
Rent	-10% $212	-5% $270	+0% $328	+5% $387	+10% $445
Rate	-1.0pp $384	-0.5pp $356	base $328	+0.5pp $300	+1.0pp $271

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	44d	1	0.15mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	44d	1	0.52mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	21d	1	0.59mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	0.74mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	44d	1	0.77mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	44d	1	0.85mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	21d	1	0.90mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	44d	1	1.11mi
922 Governor St Springfield, IL	3.0	1.0	1682	$1,200	$0.71	44d	1	1.42mi

Listing history 17 events

1. 2026-03-18
   status Pending 461-char remark

   Show marketing remark (461 chars)

   Investors take a look at this property that has great cash flow. Currently rented for $1,580 and lease is good through 10/31/2026. Landlord pays for trash and utilities paid by the tenant. Recent improvements include a kitchen update including a recently added dishwasher, new counter tops and sink. Several light fixtures replaced. Flooring on stairway. 4bedrooms and 2 baths make at this price makes this home an incredible value. Don't miss this opportunity!

2. 2026-03-18
   status Pending

   Show marketing remark (461 chars)

   Investors take a look at this property that has great cash flow. Currently rented for $1,580 and lease is good through 10/31/2026. Landlord pays for trash and utilities paid by the tenant. Recent improvements include a kitchen update including a recently added dishwasher, new counter tops and sink. Several light fixtures replaced. Flooring on stairway. 4bedrooms and 2 baths make at this price makes this home an incredible value. Don't miss this opportunity!

3. 2026-02-13
   listed $109,000 Active 461-char remark

   Show marketing remark (461 chars)

   Investors take a look at this property that has great cash flow. Currently rented for $1,580 and lease is good through 10/31/2026. Landlord pays for trash and utilities paid by the tenant. Recent improvements include a kitchen update including a recently added dishwasher, new counter tops and sink. Several light fixtures replaced. Flooring on stairway. 4bedrooms and 2 baths make at this price makes this home an incredible value. Don't miss this opportunity!

4. 2026-02-06
   price $109,900
5. 2026-01-17
   listed $115,000 Active
6. 2025-10-14
   soldstatus $83,500
7. 2025-10-10
   soldstatus $83,500 Closed 1168-char remark

   Show marketing remark (1168 chars)

   This charming 4-bedroom home is the perfect blend of affordability, convenience, and potential! Nestled in a highly desirable Springfield location, this home offers a spacious fenced backyard, a parking pad off the alley, and a close proximity to downtown, making it an ideal choice for anyone looking to embrace city living with a little more space.  Key Features: ·        4 Bedrooms (two smaller rooms perfect for a nursery, office, or flexible space) ·        2 Bathrooms with closet space, ready for your personal touches (stall showers, no bathtubs) ·        New commercial-grade LVT flooring throughout and fresh interior paint, making the home move-in ready ·        Large front, back, and side porches—perfect for enjoying the outdoors or entertaining guests ·        Fenced backyard ·        Parking pad by the alley, offering off-street parking space ·        Unfinished basement provides extra storage or future potential for additional living space

8. 2025-10-10
   soldstatus $83,500 1168-char remark

   Show marketing remark (1168 chars)

   This charming 4-bedroom home is the perfect blend of affordability, convenience, and potential! Nestled in a highly desirable Springfield location, this home offers a spacious fenced backyard, a parking pad off the alley, and a close proximity to downtown, making it an ideal choice for anyone looking to embrace city living with a little more space.  Key Features: ·        4 Bedrooms (two smaller rooms perfect for a nursery, office, or flexible space) ·        2 Bathrooms with closet space, ready for your personal touches (stall showers, no bathtubs) ·        New commercial-grade LVT flooring throughout and fresh interior paint, making the home move-in ready ·        Large front, back, and side porches—perfect for enjoying the outdoors or entertaining guests ·        Fenced backyard ·        Parking pad by the alley, offering off-street parking space ·        Unfinished basement provides extra storage or future potential for additional living space

9. 2025-09-26
   status Pending 1168-char remark

   Show marketing remark (1168 chars)

   This charming 4-bedroom home is the perfect blend of affordability, convenience, and potential! Nestled in a highly desirable Springfield location, this home offers a spacious fenced backyard, a parking pad off the alley, and a close proximity to downtown, making it an ideal choice for anyone looking to embrace city living with a little more space.  Key Features: ·        4 Bedrooms (two smaller rooms perfect for a nursery, office, or flexible space) ·        2 Bathrooms with closet space, ready for your personal touches (stall showers, no bathtubs) ·        New commercial-grade LVT flooring throughout and fresh interior paint, making the home move-in ready ·        Large front, back, and side porches—perfect for enjoying the outdoors or entertaining guests ·        Fenced backyard ·        Parking pad by the alley, offering off-street parking space ·        Unfinished basement provides extra storage or future potential for additional living space

10. 2025-09-02
    price $99,000 1168-char remark

    Show marketing remark (1168 chars)

    This charming 4-bedroom home is the perfect blend of affordability, convenience, and potential! Nestled in a highly desirable Springfield location, this home offers a spacious fenced backyard, a parking pad off the alley, and a close proximity to downtown, making it an ideal choice for anyone looking to embrace city living with a little more space.  Key Features: ·        4 Bedrooms (two smaller rooms perfect for a nursery, office, or flexible space) ·        2 Bathrooms with closet space, ready for your personal touches (stall showers, no bathtubs) ·        New commercial-grade LVT flooring throughout and fresh interior paint, making the home move-in ready ·        Large front, back, and side porches—perfect for enjoying the outdoors or entertaining guests ·        Fenced backyard ·        Parking pad by the alley, offering off-street parking space ·        Unfinished basement provides extra storage or future potential for additional living space

11. 2025-08-24
    price $109,000 1168-char remark

    Show marketing remark (1168 chars)

    This charming 4-bedroom home is the perfect blend of affordability, convenience, and potential! Nestled in a highly desirable Springfield location, this home offers a spacious fenced backyard, a parking pad off the alley, and a close proximity to downtown, making it an ideal choice for anyone looking to embrace city living with a little more space.  Key Features: ·        4 Bedrooms (two smaller rooms perfect for a nursery, office, or flexible space) ·        2 Bathrooms with closet space, ready for your personal touches (stall showers, no bathtubs) ·        New commercial-grade LVT flooring throughout and fresh interior paint, making the home move-in ready ·        Large front, back, and side porches—perfect for enjoying the outdoors or entertaining guests ·        Fenced backyard ·        Parking pad by the alley, offering off-street parking space ·        Unfinished basement provides extra storage or future potential for additional living space

12. 2025-08-19
    listed $119,000 Active 1168-char remark

    Show marketing remark (1168 chars)

    This charming 4-bedroom home is the perfect blend of affordability, convenience, and potential! Nestled in a highly desirable Springfield location, this home offers a spacious fenced backyard, a parking pad off the alley, and a close proximity to downtown, making it an ideal choice for anyone looking to embrace city living with a little more space.  Key Features: ·        4 Bedrooms (two smaller rooms perfect for a nursery, office, or flexible space) ·        2 Bathrooms with closet space, ready for your personal touches (stall showers, no bathtubs) ·        New commercial-grade LVT flooring throughout and fresh interior paint, making the home move-in ready ·        Large front, back, and side porches—perfect for enjoying the outdoors or entertaining guests ·        Fenced backyard ·        Parking pad by the alley, offering off-street parking space ·        Unfinished basement provides extra storage or future potential for additional living space

13. 2025-08-19
    listed $99,000 1168-char remark

    Show marketing remark (1168 chars)

    This charming 4-bedroom home is the perfect blend of affordability, convenience, and potential! Nestled in a highly desirable Springfield location, this home offers a spacious fenced backyard, a parking pad off the alley, and a close proximity to downtown, making it an ideal choice for anyone looking to embrace city living with a little more space.  Key Features: ·        4 Bedrooms (two smaller rooms perfect for a nursery, office, or flexible space) ·        2 Bathrooms with closet space, ready for your personal touches (stall showers, no bathtubs) ·        New commercial-grade LVT flooring throughout and fresh interior paint, making the home move-in ready ·        Large front, back, and side porches—perfect for enjoying the outdoors or entertaining guests ·        Fenced backyard ·        Parking pad by the alley, offering off-street parking space ·        Unfinished basement provides extra storage or future potential for additional living space

14. 2021-08-06
    historical
15. 2021-08-06
    historical
16. 2021-08-06
    historical
17. 2015-12-21
    soldstatus $46,400

ⓘ 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: $2,575 · $215/mo
• Projected year-2 tax: $2,575 · $215/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: $17,697
• − Mortgage interest: −$6,156
• − Property taxes: −$2,575
• − Insurance: −$550
• − Repairs & maintenance: −$1,416
• − Management: −$1,416
• − Depreciation: −$3,197
• Taxable income: $2,388
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $3,367/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

+134.9% since first listed

17 events — show timeline

• 2026-03-18 Pending — RMLSA as Distributed by MLS Grid
• 2026-03-18 Pending — RMLSA as Distributed by MLS Grid
• 2026-02-13 Listed $109,000 RMLSA as Distributed by MLS Grid
• 2026-02-06 Price Changed $109,900 RMLSA as Distributed by MLS Grid
• 2026-01-17 Listed $115,000 RMLSA as Distributed by MLS Grid
• 2025-10-14 Sold (Public Records) $83,500 Public Records
• 2025-10-10 Sold (MLS) $83,500 MRED as Distributed by MLS Grid
• 2025-10-10 Sold (MLS) $83,500 RMLSA as Distributed by MLS Grid
• 2025-09-26 Pending — RMLSA as Distributed by MLS Grid
• 2025-09-02 Price Changed $99,000 RMLSA as Distributed by MLS Grid
• 2025-08-24 Price Changed $109,000 RMLSA as Distributed by MLS Grid
• 2025-08-19 Listed $99,000 MRED as Distributed by MLS Grid
• 2025-08-19 Listed $119,000 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
• 2015-12-21 Sold (Public Records) $46,400 Public Records

Property tax history

+1.8%/yr

Latest (2024): $2,575 · +4.0% YoY. Source: county tax records.