3229 E Enos Ave · Springfield, IL 62702

$99,900

3 bd · 1.0 ba · 1,023 sqft · SingleFamily · 73 Days on market

0.34 ac lot $98/sqft · at area comps Est $97k · at est.

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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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +6.0/15.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated ranch-style home featuring 3 bedrooms and 1 full bathroom. This move-in-ready property offers a fresh, modern feel with new exterior paint and new windows for excellent curb appeal. Step inside to enjoy fresh interior paint, luxury vinyl plank flooring, and an updated kitchen complete with refreshed cabinets, new countertops, ceramic tile flooring, backsplash, and stainless steel appliances. The home is filled with natural light, highlighted by double windows in the living room and two bedrooms, along with well-positioned windows in the third bedroom. Major updates include new HVAC ductwork, with a new AC unit and coil to be installed prior to closing. The bathroom has been tastefully updated with new ceramic tile flooring and a tiled shower surround. Additional improvements include new water lines and an upgraded electrical panel. Enjoy the warmth and character of two fireplaces, along with two new exterior doors. A great opportunity for a turnkey home combining modern updates with classic charm.

Key facts

• New exterior paint
• Updated kitchen
• New windows

Tags

• UPDATED KITCHEN
• NEW EXTERIOR PAINT
• NEW WINDOWS
• LUXURY VINYL PLANK FLOORING
• CERAMIC TILE FLOORING
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: Feitshans Elem Sch (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 296 students, 0% FRL); Jefferson Middle School (math 3% / reading 8%, grade F, #635 of 665 statewide, top 95%, 539 students, 0% FRL); Lanphier High School (math 10% / reading 16%, grade F, #501 of 693 statewide, top 73%, 1,058 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.
• Zoned-school proficiency averages 7% at this address vs 20% district-wide (-12 pts) — the specific schools serving this property underperform the Springfield SD 186 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.0%/yr); 137 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $691 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 + 5.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $100k implies a 100% gain — meaningful room to come down on a strong offer.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.25% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.21%
• DSCR: 1.63
• GRM: 6.6

CMA / ARV

• ARV (median comp): $96,657
• List price: $99,900
• Delta: 3.36%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3208 E Elm St	0.22mi	3/1.0	1,037 (+1%)	10mo	$33,000	$32	79
29 Melody Ln	0.18mi	3/1.0	900 (-12%)	2mo	$115,000	$128	70
8 Melody Ln	0.23mi	2/2.0 (-1)	1,061 (+4%)	11mo	$121,000	$114	65
2912 E Enos Ave	0.40mi	2/1.0 (-1)	998 (-2%)	9mo	$94,500	$95	65
417 N Stephens Ave	0.52mi	3/1.0	1,054 (+3%)	11mo	$65,000	$62	62
3033 Louise Ln	0.50mi	3/1.0	982 (-4%)	14mo	$70,000	$71	58
428 N Stephens Ave	0.49mi	3/1.0	1,102 (+8%)	15mo	$129,900	$118	52
404 N Daniel Ave	0.44mi	2/1.0 (-1)	913 (-11%)	6mo	$10,000	$11	51
872 N Wesley St	0.57mi	3/1.0	1,148 (+12%)	7mo	$65,000	$57	47
1037 N Wesley St	0.67mi	3/1.0	1,161 (+14%)	2mo	$45,000	$39	45
1025 N Daniel St	0.56mi	2/1.0 (-1)	950 (-7%)	16mo	$20,000	$21	44
143 S Wesley St	0.75mi	2/1.0 (-1)	895 (-12%)	7mo	$30,000	$34	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.95% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.26×
• Total profit: $7,412
• Equity at exit: $14,895

10-year hold

• IRR: 17.6%
• Equity multiple: 2.58×
• Total profit: $44,313
• Equity at exit: $8,638

Cash invested: $27,972 (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 62702

• Home prices YoY: -34.9%
• Rents YoY: 5.0%
• Active inventory: 137
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$524
• Tax from tax record: −$93 /mo · $1,113/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $331

Break-even live

Break-even rent $833

Max offer price $99,900

Occupancy floor 69%

Sensitivity live

Price	-10% $388	-5% $360	+0% $331	+5% $303	+10% $275
Rent	-10% $232	-5% $282	+0% $331	+5% $381	+10% $430
Rate	-1.0pp $382	-0.5pp $357	base $331	+0.5pp $305	+1.0pp $279

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3064 Louise Ln Springfield, IL	3.0	1.0	1100	$1,350	$1.23	22d	1	0.41mi
302 Forrest Ave Springfield, IL	3.0	2.0	924	$1,069	$1.16	22d	1	0.69mi
3617 N Grand Ave E Springfield, IL	3.0	2.0	1056	$1,179	$1.12	22d	1	0.94mi
507 S Wesley St Springfield, IL	2.0	1.0	800	$975	$1.22	45d	1	0.95mi
2213 E Adams St Springfield, IL	3.0	1.0	1200	$1,100	$0.92	45d	1	1.03mi
2281 E Keys Ave Springfield, IL	2.0	1.0	800	$1,200	$1.50	45d	1	1.09mi
3319 Ridgewood Ave Springfield, IL	3.0	2.0	1248	$1,094	$0.88	45d	1	1.21mi
920 N 19th St Springfield, IL	3.0	1.0	1000	$1,100	$1.10	22d	1	1.34mi

Listing history 23 events

1. 2026-06-22
   days on market $99,900 Active 73 DOM
2. 2026-06-19
   days on market $99,900 Active 71 DOM
3. 2026-06-18
   price $99,900 Active 70 DOM
4. 2026-06-18
   days on market $104,900 Active 70 DOM
5. 2026-06-17
   days on market $104,900 Active 69 DOM
6. 2026-06-16
   days on market $104,900 Active 68 DOM
7. 2026-06-15
   days on market $104,900 Active 67 DOM
8. 2026-06-14
   days on market $104,900 Active 65 DOM
9. 2026-06-13
   days on market $104,900 Active 64 DOM
10. 2026-06-10
    days on market $104,900 Active 62 DOM
11. 2026-06-09
    days on market $104,900 Active 61 DOM
12. 2026-06-08
    days on market $104,900 Active 60 DOM
13. 2026-06-07
    days on market $104,900 Active 59 DOM
14. 2026-06-05
    days on market $104,900 Active 56 DOM
15. 2026-06-03
    days on market $104,900 Active 55 DOM
16. 2026-06-03
    price $104,900 Active 54 DOM
17. 2026-06-02
    days on market $107,000 Active 54 DOM
18. 2026-06-01
    days on market $107,000 Active 53 DOM
19. 2026-05-31
    days on market $107,000 Active 52 DOM
20. 2026-05-30
    days on market $107,000 Active 51 DOM
21. 2026-05-14
    price $107,000 1036-char remark

    Show marketing remark (1036 chars)

    Beautifully updated ranch-style home featuring 3 bedrooms and 1 full bathroom. This move-in-ready property offers a fresh, modern feel with new exterior paint and new windows for excellent curb appeal. Step inside to enjoy fresh interior paint, luxury vinyl plank flooring, and an updated kitchen complete with refreshed cabinets, new countertops, ceramic tile flooring, backsplash, and stainless steel appliances. The home is filled with natural light, highlighted by double windows in the living room and two bedrooms, along with well-positioned windows in the third bedroom. Major updates include new HVAC ductwork, with a new AC unit and coil to be installed prior to closing. The bathroom has been tastefully updated with new ceramic tile flooring and a tiled shower surround. Additional improvements include new water lines and an upgraded electrical panel. Enjoy the warmth and character of two fireplaces, along with two new exterior doors. A great opportunity for a turnkey home combining modern updates with classic charm.

22. 2026-04-08
    listed $109,900 Active 1036-char remark

    Show marketing remark (1036 chars)

    Beautifully updated ranch-style home featuring 3 bedrooms and 1 full bathroom. This move-in-ready property offers a fresh, modern feel with new exterior paint and new windows for excellent curb appeal. Step inside to enjoy fresh interior paint, luxury vinyl plank flooring, and an updated kitchen complete with refreshed cabinets, new countertops, ceramic tile flooring, backsplash, and stainless steel appliances. The home is filled with natural light, highlighted by double windows in the living room and two bedrooms, along with well-positioned windows in the third bedroom. Major updates include new HVAC ductwork, with a new AC unit and coil to be installed prior to closing. The bathroom has been tastefully updated with new ceramic tile flooring and a tiled shower surround. Additional improvements include new water lines and an upgraded electrical panel. Enjoy the warmth and character of two fireplaces, along with two new exterior doors. A great opportunity for a turnkey home combining modern updates with classic charm.

23. 2014-06-03
    soldstatus $50,000

ⓘ 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: $1,113 · $93/mo
• Projected year-2 tax: $1,690 · $141/mo
• Expected delta: +$578/yr (+$48/mo · 51.9%)

ⓘ 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,030
• − Mortgage interest: −$5,596
• − Property taxes: −$1,113
• − Insurance: −$500
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$2,906
• Taxable income: $2,511
• Est. tax owed @ 24.0%: −$603
• After-tax cash flow: $3,372/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): 31,033
• Household income: $51,136
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1230.0

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 (72%)
• Race & ethnicity: White 72% Black 17% Two or more races 8% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Slovak 2% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -79.98%
• Current HPI: 149.1926
• Rent YoY: ▲ 4.95%
• 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

+114.0% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $107,000 RMLSA as Distributed by MLS Grid
• 2026-04-08 Listed $109,900 RMLSA as Distributed by MLS Grid
• 2014-06-03 Sold (Public Records) $50,000 Public Records

Property tax history

-0.9%/yr

Latest (2024): $1,113 · +9.2% YoY. Source: county tax records.