700 S English Ave · Springfield, IL 62704

$125,000

3 bd · 2.0 ba · 1,846 sqft · Other · 2 Days on market

Built 1908 7,680 sqft lot

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Why this score? — see what drove the D+ 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 +16.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• DSCR +5.1/10.0
• 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

This 1.5-story home, built in 1908, offers character and thoughtful use of space throughout. The main floor includes a living room, dining room, kitchen, large full bath, and a rare main-floor primary bedroom with a full wall of closet space. The dining room features an updated chandelier that adds a fresh focal point, while the kitchen includes a shiplap accent wall for added personality—all appliances remain. Upstairs you’ll find two bedrooms, a second full bath tucked into the angled roofline, a flexible sitting or work space, and walk-in storage. Storage is a standout here, with more closet space than expected for a home of this era. The layout offers unique nooks ideal for

Key facts

• 7,680 sq ft lot
• Parking
• Built 1908

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1908
• Construction: Shingle roof; Contains a full, unfinished basement
• Exterior features: Fenced yard; Shed(s); Replacement windows; Level lot; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: Three bedrooms (one on main level, one on upper level, one on upper level) — each approximately 10' x 10', all with egress windows; one additional bedroom-level area on lower level/basement
• Flooring: Carpet (in bedrooms); Laminate (in kitchen)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Ceiling fans; Radon mitigation system
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $72 ($863/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 7.0% 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: 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: Elizabeth Graham Elem School (math 5% / reading 12%, grade F, #1,617 of 2,056 statewide, top 79%, 252 students, 0% FRL); Benjamin Franklin Middle School (math 23% / reading 31%, grade F, #302 of 665 statewide, top 47%, 713 students, 0% FRL); Springfield High School (math 44% / reading 53%, grade D, #49 of 693 statewide, top 7%, 1,461 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 $864 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.04% ✓
• Cap rate: 6.98%
• Cash-on-cash: 2.47%
• DSCR: 1.11
• GRM: 8.0

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: -8.3%
• Equity multiple: 0.68×
• Total profit: $-11,089
• Equity at exit: $18,638

10-year hold

• IRR: 5.4%
• Equity multiple: 1.47×
• Total profit: $16,358
• Equity at exit: $10,808

Cash invested: $35,000 (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 62704

• Home prices YoY: -31.1%
• Rents YoY: 6.3%
• Active inventory: 183
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,305 high
• Mortgage (P&I): −$656
• Tax from tax record: −$252 /mo · $3,020/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $72

Break-even live

Break-even rent $1,214

Max offer price $125,000

Occupancy floor 89%

Sensitivity live

Price	-10% $143	-5% $107	+0% $72	+5% $37	+10% $1
Rent	-10% $-31	-5% $20	+0% $72	+5% $124	+10% $175
Rate	-1.0pp $135	-0.5pp $104	base $72	+0.5pp $40	+1.0pp $7

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
922 Governor St Springfield, IL	3.0	1.0	1682	$1,200	$0.71	45d	1	0.20mi
400 E Jefferson St Springfield, IL	2.0	1.0	1420	$1,220	$0.86	45d	1	1.13mi
525 E Pine St Springfield, IL	2.0	2.0	1250	$1,200	$0.96	45d	1	1.24mi
525 E Pine St Unit 4 Springfield, IL	2.0	2.0	1250	$1,200	$0.96	22d	1	1.24mi
1030 N MacArthur Blvd Springfield, IL	2.0	1.0	1400	$1,350	$0.96	22d	1	1.28mi
1933 S 2nd St Springfield, IL	4.0	2.0	1433	$1,400	$0.98	45d	1	1.36mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	45d	1	1.37mi

Listing history 15 events

1. 2026-05-06
   status Pending 1141-char remark
2. 2026-05-06
   historical Under Contract 1141-char remark
3. 2026-05-04
   listed $125,000 Active 1141-char remark
4. 2026-05-01
   historical $125,000 1141-char remark
5. 2021-08-06
   historical
6. 2021-08-06
   historical
7. 2021-08-06
   historical
8. 2021-08-06
   historical
9. 2021-04-19
   soldstatus $87,500
10. 2021-04-16
    soldstatus $87,500
11. 2020-10-29
    listed $89,900
12. 2010-06-24
    soldstatus $80,000
13. 2010-06-08
    soldstatus $79,900
14. 2010-01-28
    listed $79,900
15. 1998-04-24
    soldstatus $61,000

ⓘ 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: $3,020 · $252/mo
• Projected year-2 tax: $3,020 · $252/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: $15,664
• − Mortgage interest: −$7,002
• − Property taxes: −$3,020
• − Insurance: −$625
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − Depreciation: −$3,636
• Taxable loss: −$1,126
• Est. tax savings @ 24.0%: +$270
• After-tax cash flow: $1,134/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

+145.9% since first listed

16 events — show timeline

• 2026-06-08 Sold (MLS) $150,000 RMLSA as Distributed by MLS Grid
• 2026-05-06 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-06 Contingent — RMLSA as Distributed by MLS Grid
• 2026-05-04 Listed $125,000 RMLSA as Distributed by MLS Grid
• 2026-05-01 Coming Soon $125,000 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
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-04-19 Sold (Public Records) $87,500 Public Records
• 2021-04-16 Sold (MLS) $87,500 RMLSA as Distributed by MLS Grid
• 2020-10-29 Listed $89,900 RMLSA as Distributed by MLS Grid
• 2010-06-24 Sold (Public Records) $80,000 Public Records
• 2010-06-08 Sold (MLS) $79,900 RMLSA as Distributed by MLS Grid
• 2010-01-28 Listed $79,900 RMLSA as Distributed by MLS Grid
• 1998-04-24 Sold (Public Records) $61,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $3,020 · +3.4% YoY. Source: county tax records.