3240 E Enos Ave · Springfield, IL 62702

$89,900

2 bd · 1.0 ba · 1,001 sqft · SingleFamily

9,720 sqft lot Est $65k · 38% over

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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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.8/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity awaits! This would make a very nice 1st home and much cheaper than rent! 2BR, 1BA home with attached garage, large fenced backyard, all appliances stay, large deck with built-in seating, hardwood under carpeting. Updates include new roof in 2011, new windows in 2006, newer AC. A few updates will go a long way with this one!

Key facts

• 9,720 sq ft lot
• Garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.0% 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: 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 (+5.0%/yr); 131 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $622 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 $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $50k; list at $90k implies a 80% gain — meaningful room to come down on a strong offer.

Recommended offer $89,900

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: 1.28% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.19%
• DSCR: 1.59
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $65,065
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2912 E Enos Ave	0.43mi	2/1.0	998 (-0%)	9mo	$94,500	$95	72
3208 E Elm St	0.24mi	3/1.0 (+1)	1,037 (+4%)	10mo	$33,000	$32	69
29 Melody Ln	0.21mi	3/1.0 (+1)	900 (-10%)	2mo	$115,000	$128	67
8 Melody Ln	0.26mi	2/2.0	1,061 (+6%)	11mo	$121,000	$114	65
404 N Daniel Ave	0.46mi	2/1.0	913 (-9%)	6mo	$10,000	$11	59
3033 Louise Ln	0.54mi	3/1.0 (+1)	982 (-2%)	14mo	$70,000	$71	55
417 N Stephens Ave	0.53mi	3/1.0 (+1)	1,054 (+5%)	11mo	$65,000	$62	52
1025 N Daniel St	0.60mi	2/1.0	950 (-5%)	16mo	$20,000	$21	50
907 N Daniel Ave	0.55mi	1/1.0 (-1)	918 (-8%)	9mo	$60,000	$65	48
428 N Stephens Ave	0.50mi	3/1.0 (+1)	1,102 (+10%)	15mo	$129,900	$118	42
143 S Wesley St	0.75mi	2/1.0	895 (-11%)	7mo	$30,000	$34	42
872 N Wesley St	0.61mi	3/1.0 (+1)	1,148 (+15%)	7mo	$65,000	$57	36

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: 5.4%
• Equity multiple: 1.21×
• Total profit: $5,379
• Equity at exit: $13,404

10-year hold

• IRR: 16.5%
• Equity multiple: 2.48×
• Total profit: $37,299
• Equity at exit: $7,773

Cash invested: $25,172 (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: 131
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,150 high
• Mortgage (P&I): −$471
• Tax from tax record: −$123 /mo · $1,479/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $277

Break-even live

Break-even rent $800

Max offer price $89,900

Occupancy floor 71%

Sensitivity live

Price	-10% $328	-5% $302	+0% $277	+5% $251	+10% $226
Rent	-10% $186	-5% $231	+0% $277	+5% $322	+10% $368
Rate	-1.0pp $322	-0.5pp $300	base $277	+0.5pp $253	+1.0pp $230

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: $22,475
• Closing costs: $2,697
• 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	0.50mi
302 Forrest Ave Springfield, IL	3.0	2.0	924	$1,069	$1.16	22d	1	0.72mi
507 S Wesley St Springfield, IL	2.0	1.0	800	$975	$1.22	44d	1	0.93mi
3617 N Grand Ave E Springfield, IL	3.0	2.0	1056	$1,179	$1.12	22d	1	0.97mi
2213 E Adams St Springfield, IL	3.0	1.0	1200	$1,100	$0.92	44d	1	1.04mi
2281 E Keys Ave Springfield, IL	2.0	1.0	800	$1,200	$1.50	44d	1	1.18mi
3319 Ridgewood Ave Springfield, IL	3.0	2.0	1248	$1,094	$0.88	44d	1	1.27mi
920 N 19th St Springfield, IL	3.0	1.0	1000	$1,100	$1.10	22d	1	1.40mi

Listing history 6 events

1. 2026-05-13
   listed $89,900
2. 2026-05-13
   historical
3. 2014-11-05
   soldstatus $50,000
4. 2014-11-05
   soldstatus $50,000
5. 2014-10-31
   soldstatus $49,600 343-char remark

   Show marketing remark (343 chars)

   Great opportunity awaits! This would make a very nice 1st home and much cheaper than rent! 2BR, 1BA home with attached garage, large fenced backyard, all appliances stay, large deck with built-in seating, hardwood under carpeting. Updates include new roof in 2011, new windows in 2006, newer AC. A few updates will go a long way with this one!

6. 2014-08-21
   listed $53,000 343-char remark

   Show marketing remark (343 chars)

   Great opportunity awaits! This would make a very nice 1st home and much cheaper than rent! 2BR, 1BA home with attached garage, large fenced backyard, all appliances stay, large deck with built-in seating, hardwood under carpeting. Updates include new roof in 2011, new windows in 2006, newer AC. A few updates will go a long way with this one!

ⓘ 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: $1,479 · $123/mo
• Projected year-2 tax: $1,760 · $147/mo
• Expected delta: +$281/yr (+$23/mo · 19.0%)

ⓘ 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,805
• − Mortgage interest: −$5,036
• − Property taxes: −$1,479
• − Insurance: −$450
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$2,615
• Taxable income: $2,017
• Est. tax owed @ 24.0%: −$484
• After-tax cash flow: $2,836/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

+69.6% since first listed

6 events — show timeline

• 2026-05-13 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-05-13 Listed $89,900 RMLSA as Distributed by MLS Grid
• 2014-11-05 Sold (Public Records) $50,000 Public Records
• 2014-11-05 Sold (Public Records) $50,000 Public Records
• 2014-10-31 Sold (MLS) $49,600 RMLSA as Distributed by MLS Grid
• 2014-08-21 Listed $53,000 RMLSA as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2024): $1,479 · +7.9% YoY. Source: county tax records.