2425 S 8th St · Springfield, IL 62703

$114,000

3 bd · 1.0 ba · 1,530 sqft · Other · 207 Days on market

5,671 sqft lot

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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

This beautifully refreshed 3-bedroom, 1-bath home has been updated from the basement all the way to the upstairs. Every major project has already been completed, making this a clean, solid, move-in-ready home with charm, original character, and modern updates everywhere you look. Major Updates & Improvements Brand-new roof on both the house and garage Entire interior freshly painted basement, main level, and upstairs All new lighting, fans, outlets, and switches throughout New hot water heater Updated bathroom with new vanity, toilet, and shower head Updated kitchen faucet New carpet in the upstairs bedroom with huge closet space Original hardwood floors on the main level Tile flooring in the bathroom Fireplace Feature The home has an original fireplace that adds character to the living room. It has been sealed off for previous renters, but can be reopened by the new owner if they want to restore it to a working or decorative feature. A great opportunity to add value and charm. Interior Highlights 3 bedrooms including a large upstairs bedroom with exceptional storage Bright, clean interior thanks to full-home repainting Updated fixtures and modern touches paired with classic hardwood floors Flexible layout with plenty of natural light Oversized Garage With Rare Drive-Through Access Two brand-new garage doors Two new openers Garage opens to the front and the alley perfect for trailers, extra vehicles, toys, or workshop use A Fully Refreshed, Worry-Free Home All the big-ticket items are already done roof, paint, electrical, lighting, plumbing fixtures, flooring, garage, and more. Perfect for a buyer who wants a clean, updated home without the renovation headaches.

Key facts

• Brand new roof
• Original fireplace
• Updated bathroom

Tags

• BRAND NEW ROOF
• UPDATED BATHROOM
• ORIGINAL HARDWOOD FLOORS
• ORIGINAL FIREPLACE
• OVERSIZED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $114k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 (+12.2%/yr); 107 active listings in the ZIP; 12 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).
• This rent runs 36% 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 $788 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 + 8.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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 $51k; list at $114k implies a 124% gain — meaningful room to come down on a strong offer.

Recommended offer $100,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.18% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.44%
• DSCR: 1.46
• GRM: 7.1

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: 4.9%
• Equity multiple: 1.20×
• Total profit: $6,353
• Equity at exit: $16,998

10-year hold

• IRR: 18.5%
• Equity multiple: 2.90×
• Total profit: $60,763
• Equity at exit: $9,857

Cash invested: $31,920 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,346 high
• Mortgage (P&I): −$598
• Tax from tax record: −$140 /mo · $1,680/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $278

Break-even live

Break-even rent $994

Max offer price $114,000

Occupancy floor 74%

Sensitivity live

Price	-10% $342	-5% $310	+0% $278	+5% $246	+10% $213
Rent	-10% $172	-5% $225	+0% $278	+5% $331	+10% $384
Rate	-1.0pp $335	-0.5pp $307	base $278	+0.5pp $248	+1.0pp $218

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	0.20mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	44d	1	0.25mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	22d	1	0.64mi
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	44d	1	0.64mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	44d	1	0.79mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	22d	1	0.89mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	44d	1	0.99mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	22d	1	0.99mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	44d	1	1.16mi
1929 E Spruce St Springfield, IL	3.0	1.0	1500	$1,300	$0.87	44d	1	1.27mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	44d	1	1.28mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	22d	1	1.36mi

Listing history 21 events

1. 2026-06-03
   days on market $114,000 Active 207 DOM
2. 2026-06-02
   days on market $114,000 Active 206 DOM
3. 2026-06-01
   days on market $114,000 Active 205 DOM
4. 2026-05-31
   days on market $114,000 Active 204 DOM
5. 2026-05-30
   days on market $114,000 Active 203 DOM
6. 2025-11-08
   listed $114,000 Active 1720-char remark

   Show marketing remark (1720 chars)

   This beautifully refreshed 3-bedroom, 1-bath home has been updated from the basement all the way to the upstairs. Every major project has already been completed, making this a clean, solid, move-in-ready home with charm, original character, and modern updates everywhere you look. Major Updates & Improvements Brand-new roof on both the house and garage Entire interior freshly painted basement, main level, and upstairs All new lighting, fans, outlets, and switches throughout New hot water heater Updated bathroom with new vanity, toilet, and shower head Updated kitchen faucet New carpet in the upstairs bedroom with huge closet space Original hardwood floors on the main level Tile flooring in the bathroom Fireplace Feature The home has an original fireplace that adds character to the living room. It has been sealed off for previous renters, but can be reopened by the new owner if they want to restore it to a working or decorative feature. A great opportunity to add value and charm. Interior Highlights 3 bedrooms including a large upstairs bedroom with exceptional storage Bright, clean interior thanks to full-home repainting Updated fixtures and modern touches paired with classic hardwood floors Flexible layout with plenty of natural light Oversized Garage With Rare Drive-Through Access Two brand-new garage doors Two new openers Garage opens to the front and the alley perfect for trailers, extra vehicles, toys, or workshop use A Fully Refreshed, Worry-Free Home All the big-ticket items are already done roof, paint, electrical, lighting, plumbing fixtures, flooring, garage, and more. Perfect for a buyer who wants a clean, updated home without the renovation headaches.

7. 2021-08-06
   historical
8. 2021-08-06
   historical
9. 2020-02-24
   soldstatus $51,000
10. 2020-02-20
    soldstatus $51,000
11. 2020-01-21
    listed $58,900
12. 2019-01-11
    soldstatus $45,000
13. 2018-06-22
    listed $55,000
14. 2010-07-19
    soldstatus $73,000
15. 2010-07-16
    soldstatus $73,000
16. 2010-04-21
    listed $74,900
17. 2005-12-05
    soldstatus $65,500
18. 2005-10-31
    soldstatus $65,500
19. 2005-07-11
    listed $65,500
20. 1999-09-23
    soldstatus $50,500
21. 1999-07-22
    listed $54,900

ⓘ 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: $1,680 · $140/mo
• Projected year-2 tax: $2,134 · $178/mo
• Expected delta: +$454/yr (+$38/mo · 27.0%)

ⓘ 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 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: $16,149
• − Mortgage interest: −$6,386
• − Property taxes: −$1,680
• − Insurance: −$570
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − Depreciation: −$3,316
• Taxable income: $1,613
• Est. tax owed @ 24.0%: −$387
• After-tax cash flow: $2,947/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

+107.7% since first listed

16 events — show timeline

• 2025-11-08 Listed $114,000 ForSaleByOwner.com
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2020-02-24 Sold (Public Records) $51,000 Public Records
• 2020-02-20 Sold (MLS) $51,000 RMLSA as Distributed by MLS Grid
• 2020-01-21 Listed $58,900 RMLSA as Distributed by MLS Grid
• 2019-01-11 Sold (MLS) $45,000 RMLSA as Distributed by MLS Grid
• 2018-06-22 Listed $55,000 RMLSA as Distributed by MLS Grid
• 2010-07-19 Sold (Public Records) $73,000 Public Records
• 2010-07-16 Sold (MLS) $73,000 RMLSA as Distributed by MLS Grid
• 2010-04-21 Listed $74,900 RMLSA as Distributed by MLS Grid
• 2005-12-05 Sold (Public Records) $65,500 Public Records
• 2005-10-31 Sold (MLS) $65,500 RMLSA as Distributed by MLS Grid
• 2005-07-11 Listed $65,500 RMLSA as Distributed by MLS Grid
• 1999-09-23 Sold (MLS) $50,500 RMLSA as Distributed by MLS Grid
• 1999-07-22 Listed $54,900 RMLSA as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2024): $1,680 · +4.0% YoY. Source: county tax records.