1825 S College St · Springfield, IL 62704

$35,500

4 bd · 2.0 ba · 1,717 sqft · SingleFamily · 7 Days on market

Built 1910 $21/sqft · 74% below area ↓ 41% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 MLS

THIS AMERICAN 4 SQUARE HAS LOTS OF HARDWOOD, UPDATED KITCHEN, APPLIANCES STAY, NEWER FURN/AC, SPACIOUS 1ST FLOOR BATH & LAUNDRY COMBO. NO GUESSWORK ABOUT CONDITION, INSPECTED BY B-SAFE, COPY AVAILABLE FOR PREAPPROVED BUYER PRIOR TO OFFER, SELLING 'AS IS'. SELLER WILL CONSIDER ROOF ALLOWANCE DEPENDANT UPON OFFER. 1 YR HOME WARRANTY. NEW FLOORS IN LIVING ROOM, DINING ROOM AND FOYER IN 2007.

Key facts

• Covered front porch
• Central location
• Welcoming foyer

Tags

• TWO STORY TRADITIONAL HOME
• CENTRAL LOCATION
• WELCOMING FOYER
• COVERED FRONT PORCH
• REAR DECK
• FENCED BACKYARD

Property features AI

Finance

• Other: Building living area approximately 1717 (total building area 1717); Lot dimensions: 40 x 131.29 and 30 x 131.29

Exterior

• Parking: Detached garage with one garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Shingle roof; Built in 1910
• Exterior features: Fenced yard; Extra lot (lot dimensions listed separately)

Interior

• Kitchen: Tile-floor kitchen
• Bedrooms: Four bedrooms; Upper-level bedrooms with hardwood floors and egress windows; Bedroom sizes include approximately 13.2 x 12.4, 12.4 x 12.4, 11.6 x 10.5, and 12.9 x 7.11 (length x width in feet)
• Flooring: Hardwood in multiple bedrooms; Tile in kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full, unfinished basement; No built-in appliances listed; No fireplaces
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $928 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Cap rate 37.7% 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: 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 (+6.3%/yr); 177 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $245 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 19y 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,500

Questions for the listing agent

1. Built in 1910 — 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: 4.18% ✓
• Cap rate: 37.65%
• Cash-on-cash: 112.00%
• DSCR: 5.98
• GRM: 2.0

CMA / ARV

• ARV (median comp): $134,310
• List price: $35,500
• Delta: -73.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1817 Whittier Ave	0.13mi	4/2.0	1,852 (+8%)	2mo	$230,000	$124	79
1740 S Lowell Ave	0.18mi	3/2.0 (-1)	1,831 (+7%)	2mo	$195,000	$106	74
1933 S 1st St	0.18mi	3/1.5 (-1)	1,599 (-7%)	3mo	$90,000	$56	71
2513 S Pasfield St	0.57mi	3/1.0 (-1)	1,769 (+3%)	1mo	$174,000	$98	59
2029 S Walnut St	0.42mi	3/1.5 (-1)	1,592 (-7%)	4mo	$156,900	$99	58
2321 S Pasfield St	0.44mi	3/1.0 (-1)	1,858 (+8%)	1mo	$151,150	$81	56
1601 S Glenwood Ave	0.49mi	3/2.0 (-1)	1,548 (-10%)	1mo	$131,000	$85	55
534 W Vine St	0.56mi	3/1.5 (-1)	1,852 (+8%)	2mo	$157,500	$85	52
725 Spruce St	0.66mi	4/2.0	1,912 (+11%)	0mo	$155,750	$81	50
624 W Vine St	0.60mi	4/1.5	1,944 (+13%)	2mo	$199,900	$103	46
2501 S College St	0.54mi	3/2.0 (-1)	1,473 (-14%)	2mo	$159,900	$109	45
2425 S State St	0.74mi	3/1.5 (-1)	1,510 (-12%)	3mo	$170,000	$113	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 · 6.32% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.88×
• Total profit: $58,482
• Equity at exit: $5,293

10-year hold

• IRR: —
• Equity multiple: 16.05×
• Total profit: $149,618
• Equity at exit: $3,069

Cash invested: $9,940 (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: 177
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,485 high
• Mortgage (P&I): −$186
• Tax est. 1.5%: −$44 /mo · $532/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $928

Break-even live

Break-even rent $311

Max offer price $35,500

Occupancy floor 33%

Sensitivity live

Price	-10% $952	-5% $940	+0% $928	+5% $915	+10% $903
Rent	-10% $810	-5% $869	+0% $928	+5% $986	+10% $1,045
Rate	-1.0pp $946	-0.5pp $937	base $928	+0.5pp $919	+1.0pp $909

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: $8,875
• Closing costs: $1,065
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	44d	1	0.27mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	44d	1	0.55mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	21d	1	0.60mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	0.60mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	44d	1	0.82mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	44d	1	0.93mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	21d	1	1.01mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	44d	1	1.11mi
922 Governor St Springfield, IL	3.0	1.0	1682	$1,200	$0.71	44d	1	1.25mi

Listing history 7 events

1. 2026-05-06
   status Pending 530-char remark
2. 2026-04-28
   listed $35,500 Active 530-char remark
3. 2008-07-09
   soldstatus $100,500
4. 2008-06-30
   soldstatus $100,250 395-char remark

   Show marketing remark (395 chars)

   THIS AMERICAN 4 SQUARE HAS LOTS OF HARDWOOD, UPDATED KITCHEN, APPLIANCES STAY, NEWER FURN/AC, SPACIOUS 1ST FLOOR BATH & LAUNDRY COMBO. NO GUESSWORK ABOUT CONDITION, INSPECTED BY B-SAFE, COPY AVAILABLE FOR PREAPPROVED BUYER PRIOR TO OFFER, SELLING 'AS IS'. SELLER WILL CONSIDER ROOF ALLOWANCE DEPENDANT UPON OFFER. 1 YR HOME WARRANTY. NEW FLOORS IN LIVING ROOM, DINING ROOM AND FOYER IN 2007.

5. 2007-07-22
   listed $94,900 395-char remark

   Show marketing remark (395 chars)

   THIS AMERICAN 4 SQUARE HAS LOTS OF HARDWOOD, UPDATED KITCHEN, APPLIANCES STAY, NEWER FURN/AC, SPACIOUS 1ST FLOOR BATH & LAUNDRY COMBO. NO GUESSWORK ABOUT CONDITION, INSPECTED BY B-SAFE, COPY AVAILABLE FOR PREAPPROVED BUYER PRIOR TO OFFER, SELLING 'AS IS'. SELLER WILL CONSIDER ROOF ALLOWANCE DEPENDANT UPON OFFER. 1 YR HOME WARRANTY. NEW FLOORS IN LIVING ROOM, DINING ROOM AND FOYER IN 2007.

6. 2004-07-19
   soldstatus $86,500
7. 2003-12-01
   soldstatus $60,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $17,819
• − Mortgage interest: −$1,989
• − Property taxes: −$532
• − Insurance: −$178
• − Repairs & maintenance: −$1,425
• − Management: −$1,425
• − Depreciation: −$1,033
• Taxable income: $11,236
• Est. tax owed @ 24.0%: −$2,697
• After-tax cash flow: $8,436/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

-40.8% since first listed

7 events — show timeline

• 2026-05-06 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-28 Listed $35,500 RMLSA as Distributed by MLS Grid
• 2008-07-09 Sold (Public Records) $100,500 Public Records
• 2008-06-30 Sold (MLS) $100,250 RMLSA as Distributed by MLS Grid
• 2007-07-22 Listed $94,900 RMLSA as Distributed by MLS Grid
• 2004-07-19 Sold (Public Records) $86,500 Public Records
• 2003-12-01 Sold (Public Records) $60,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,923 · +4.6% YoY. Source: county tax records.