2720 S College St · Springfield, IL 62704

$97,000

3 bd · 2.0 ba · 1,560 sqft · Other · 16 Days on market

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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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Are you looking for a 3 bedroom 2 bathroom home for your family? Nice size bedroooms. Huge laundry room. Family room and living room. Backyard is a gardener's paradise. Garage has been used for a gaming room, could easily be turned back into a working garage. Sellers built a nice gazebo with porch swing, in the privacy fenced back yard. Lots of space for the money.

Key facts

• Garage
• Listed 16 days

Property features AI

Exterior

• Parking: Detached carport and detached garage with space for 1 car
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels
• Construction: Shingle roof; Not new construction
• Exterior features: Level lot

Interior

• Kitchen: Kitchen on main level (vinyl flooring, approx. 10' x 10')
• Bedrooms: Three bedrooms; Each bedroom on upper level with egress windows and laminate flooring (approx. 10' x 10')
• Flooring: Laminate flooring in bedrooms; Vinyl flooring in kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air
• Interior features: One fireplace; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $97k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Recommended offer: $96k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% 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: 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.
• Zoned schools: Black Hawk Elem School (math 5% / reading 15%, grade F, #1,477 of 2,056 statewide, top 74%, 246 students, 0% FRL); Jefferson Middle School (math 3% / reading 8%, grade F, #635 of 665 statewide, top 95%, 539 students, 0% FRL); Springfield Southeast High Sch (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 1,261 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.3%/yr); 183 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $671 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 $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $55k; list at $97k implies a 76% gain — meaningful room to come down on a strong offer.

Recommended offer $95,545 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.43% ✓
• Cap rate: 10.67%
• Cash-on-cash: 15.63%
• DSCR: 1.70
• GRM: 5.8

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: 10.4%
• Equity multiple: 1.43×
• Total profit: $11,651
• Equity at exit: $14,463

10-year hold

• IRR: 22.2%
• Equity multiple: 3.22×
• Total profit: $60,396
• Equity at exit: $8,387

Cash invested: $27,160 (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: 183
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,384 high
• Mortgage (P&I): −$509
• Tax from tax record: −$190 /mo · $2,284/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $354

Break-even live

Break-even rent $936

Max offer price $97,000

Occupancy floor 69%

Sensitivity live

Price	-10% $409	-5% $381	+0% $354	+5% $326	+10% $299
Rent	-10% $244	-5% $299	+0% $354	+5% $408	+10% $463
Rate	-1.0pp $403	-0.5pp $378	base $354	+0.5pp $329	+1.0pp $303

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	45d	1	0.66mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	45d	1	0.73mi
2257 S 10th St Springfield, IL	2.0	1.0	1100	$1,150	$1.05	45d	1	0.74mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	45d	1	1.01mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	22d	1	1.11mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	22d	1	1.12mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	22d	1	1.18mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	45d	1	1.18mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	22d	1	1.36mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	45d	1	1.40mi
1729 W Iles Ave Springfield, IL	3.0	1.0	1162	$1,500	$1.29	22d	1	1.47mi

Listing history 13 events

1. 2026-06-22
   days on market $97,000 Active 16 DOM
2. 2026-06-19
   days on market $97,000 Active 14 DOM
3. 2026-06-18
   days on market $97,000 Active 13 DOM
4. 2026-06-17
   days on market $97,000 Active 12 DOM
5. 2026-06-16
   days on market $97,000 Active 11 DOM
6. 2026-06-15
   days on market $97,000 Active 10 DOM
7. 2026-06-14
   days on market $97,000 Active 8 DOM
8. 2026-06-13
   pricedays on market $97,000 Active 7 DOM
9. 2026-06-10
   days on market $99,900 Active 5 DOM
10. 2026-06-09
    days on market $99,900 Active 4 DOM
11. 2026-06-08
    days on market $99,900 Active 3 DOM
12. 2026-06-07
    remarks 240-char remark
13. 2026-06-07
    listed $99,900 Active 2 DOM

ⓘ 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: $2,284 · $190/mo
• Projected year-2 tax: $2,284 · $190/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 100% 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: $16,605
• − Mortgage interest: −$5,434
• − Property taxes: −$2,284
• − Insurance: −$485
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − Depreciation: −$2,822
• Taxable income: $2,924
• Est. tax owed @ 24.0%: −$702
• After-tax cash flow: $3,543/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

• 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

+66.8% since first listed

4 events — show timeline

• 2026-06-03 Listed $99,900 RMLSA as Distributed by MLS Grid
• 2021-10-25 Sold (Public Records) $55,000 Public Records
• 2021-10-21 Sold (MLS) $55,000 RMLSA as Distributed by MLS Grid
• 2021-09-12 Listed $59,900 RMLSA as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $2,284 · +3.0% YoY. Source: county tax records.