1059 N 6th St · Springfield, IL 62702

$139,000

4 bd · 2.0 ba · 1,929 sqft · Other · 92 Days on market

Built 1860 10,800 sqft lot $72/sqft · 35% above area Est $103k · 35% 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 +24.8/30.0
• DSCR +8.0/10.0
• 1% rule +6.9/10.0
• 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

This charming 2-story home, with spacious 4-bedrooms offerings nearly 2000 sq ft in the desirable historical Enos park neighborhood, near hospitals, schools, the new YMCA, and grocery store. Many updates : New Roof, newer furnace, water heater, appliances, brand new luxury vinyl flooring, newer vinyl windows, freshly painted. 1-car detached garage and patio area provide additional outdoor space for entertaining.

Key facts

• Newer furnace
• Newer vinyl windows
• Water heater

Tags

• NEW ROOF
• NEWER FURNACE
• WATER HEATER
• NEW APPLIANCES
• NEWER VINYL WINDOWS
• FRESHLY PAINTED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $139k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).
• This rent runs 39% of the median local income ($51k/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 $961 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.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 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 $83k; list at $139k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.19% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 7.0

CMA / ARV

• ARV (median comp): $103,077
• List price: $139,000
• Delta: 34.85%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-488
• Equity at exit: $20,725

10-year hold

• IRR: 11.4%
• Equity multiple: 1.98×
• Total profit: $37,984
• Equity at exit: $12,018

Cash invested: $38,920 (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 62702

• Home prices YoY: -34.9%
• Rents YoY: 5.0%
• Active inventory: 131
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,655 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$227 /mo · $2,729/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $293

Break-even live

Break-even rent $1,284

Max offer price $139,000

Occupancy floor 77%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $139,000 Under Contract 92 DOM
2. 2026-06-18
   days on market $139,000 Under Contract 91 DOM
3. 2026-06-17
   days on market $139,000 Under Contract 90 DOM
4. 2026-06-16
   days on market $139,000 Under Contract 89 DOM
5. 2026-06-15
   days on market $139,000 Under Contract 88 DOM
6. 2026-06-14
   days on market $139,000 Under Contract 86 DOM
7. 2026-06-13
   days on market $139,000 Under Contract 85 DOM
8. 2026-06-10
   days on market $139,000 Under Contract 83 DOM
9. 2026-06-09
   days on market $139,000 Under Contract 82 DOM
10. 2026-06-08
    days on market $139,000 Under Contract 81 DOM
11. 2026-06-07
    days on market $139,000 Under Contract 80 DOM
12. 2026-06-05
    days on market $139,000 Under Contract 77 DOM
13. 2026-06-03
    days on market $139,000 Under Contract 76 DOM
14. 2026-06-02
    days on market $139,000 Under Contract 75 DOM
15. 2026-06-01
    days on market $139,000 Under Contract 74 DOM
16. 2026-05-31
    days on market $139,000 Under Contract 73 DOM
17. 2026-05-30
    days on market $139,000 Under Contract 72 DOM
18. 2026-05-13
    status Pending 415-char remark

    Show marketing remark (415 chars)

    This charming 2-story home, with spacious 4-bedrooms offerings nearly 2000 sq ft in the desirable historical Enos park neighborhood, near hospitals, schools, the new YMCA, and grocery store. Many updates : New Roof, newer furnace, water heater, appliances, brand new luxury vinyl flooring, newer vinyl windows, freshly painted. 1-car detached garage and patio area provide additional outdoor space for entertaining.

19. 2026-05-06
    status Active 415-char remark

    Show marketing remark (415 chars)

    This charming 2-story home, with spacious 4-bedrooms offerings nearly 2000 sq ft in the desirable historical Enos park neighborhood, near hospitals, schools, the new YMCA, and grocery store. Many updates : New Roof, newer furnace, water heater, appliances, brand new luxury vinyl flooring, newer vinyl windows, freshly painted. 1-car detached garage and patio area provide additional outdoor space for entertaining.

20. 2026-05-04
    status Pending 415-char remark

    Show marketing remark (415 chars)

    This charming 2-story home, with spacious 4-bedrooms offerings nearly 2000 sq ft in the desirable historical Enos park neighborhood, near hospitals, schools, the new YMCA, and grocery store. Many updates : New Roof, newer furnace, water heater, appliances, brand new luxury vinyl flooring, newer vinyl windows, freshly painted. 1-car detached garage and patio area provide additional outdoor space for entertaining.

21. 2026-03-09
    listed $139,000 Active 415-char remark

    Show marketing remark (415 chars)

    This charming 2-story home, with spacious 4-bedrooms offerings nearly 2000 sq ft in the desirable historical Enos park neighborhood, near hospitals, schools, the new YMCA, and grocery store. Many updates : New Roof, newer furnace, water heater, appliances, brand new luxury vinyl flooring, newer vinyl windows, freshly painted. 1-car detached garage and patio area provide additional outdoor space for entertaining.

22. 2021-11-22
    soldstatus $82,833
23. 2021-11-15
    soldstatus $82,500 956-char remark

    Show marketing remark (956 chars)

    This charming 2-story home, in a well-established area of the city is near hospitals, schools, the new YMCA, and grocery store—all in a 3-6 block area. It has 4 large bedrooms, 2-up and 2-down, but you can use your imagination to make these rooms into the things that you’ve been looking for in a home, like a home-library, office space, work-out room, craft room--with this much space, the sky is the limit. Full bath on first floor (and room in master closet area for possible additional bath), also toilet in bsmt laundry room (no sink). Patio and great landscaping make outside entertaining a must! Many updates: newer furnace, water heater, appliances (these stay, including the washer and new dryer), brand new luxury vinyl flooring, newer garage door opener and new service door, vinyl windows, new interior paint, new ‘Hunter’ fans, and much MORE. Bring your holiday plans with you at the viewing, this could be the one!

24. 2021-04-28
    listed $79,000 956-char remark

    Show marketing remark (956 chars)

    This charming 2-story home, in a well-established area of the city is near hospitals, schools, the new YMCA, and grocery store—all in a 3-6 block area. It has 4 large bedrooms, 2-up and 2-down, but you can use your imagination to make these rooms into the things that you’ve been looking for in a home, like a home-library, office space, work-out room, craft room--with this much space, the sky is the limit. Full bath on first floor (and room in master closet area for possible additional bath), also toilet in bsmt laundry room (no sink). Patio and great landscaping make outside entertaining a must! Many updates: newer furnace, water heater, appliances (these stay, including the washer and new dryer), brand new luxury vinyl flooring, newer garage door opener and new service door, vinyl windows, new interior paint, new ‘Hunter’ fans, and much MORE. Bring your holiday plans with you at the viewing, this could be the 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: $2,729 · $227/mo
• Projected year-2 tax: $2,942 · $245/mo
• Expected delta: +$213/yr (+$18/mo · 7.8%)

ⓘ 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 3/10 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: $19,859
• − Mortgage interest: −$7,786
• − Property taxes: −$2,729
• − Insurance: −$695
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$4,044
• Taxable income: $1,428
• Est. tax owed @ 24.0%: −$343
• After-tax cash flow: $3,175/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): 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

+75.9% since first listed

7 events — show timeline

• 2026-05-13 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-06 Relisted — RMLSA as Distributed by MLS Grid
• 2026-05-04 Pending — RMLSA as Distributed by MLS Grid
• 2026-03-09 Listed $139,000 RMLSA as Distributed by MLS Grid
• 2021-11-22 Sold (Public Records) $82,833 Public Records
• 2021-11-15 Sold (MLS) $82,500 RMLSA as Distributed by MLS Grid
• 2021-04-28 Listed $79,000 RMLSA as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2024): $2,729 · +4.0% YoY. Source: county tax records.