911 N Walnut St · Springfield, IL 62702

$79,900

2 bd · 1.0 ba · 1,146 sqft · Other · 18 Days on market

Built 1899 5,662 sqft lot

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Why this score? — see what drove the B- 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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• 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

Don't miss out on this 2 bedroom, 1 bath home conveniently located near shopping, dining, and the medical district. Featuring hardwood flooring, a private fenced backyard perfect for relaxing or entertaining, this home is ready for it's new owner. The 1.5 car garage offers additional storage, while additional off street parking adds convenience. Numerous improvements over the years include refinished hardwood floors, remodeled kitchen and bath, updated furnace and ductwork, replacement shingles on both the house and garage, spray foam insulated basement and a privacy fence This well maintained home combines character, comfort, and a convenient location. Schedule your showing today!

Key facts

• Remodeled kitchen
• Updated furnace
• Replacement shingles

Tags

• PRIVATE FENCED BACKYARD
• REMODELED KITCHEN
• UPDATED FURNACE
• SPRAY FOAM INSULATED BASEMENT
• REPLACEMENT SHINGLES

Property features AI

Exterior

• Parking: Detached, oversized garage with alley access; Parking pad
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1899; 1,146 total building area
• Construction: Shingle roof
• Exterior features: Fenced yard; Level lot; Lot dimensions approximately 38 x 156

Interior

• Kitchen: Dishwasher; Refrigerator; Vinyl flooring in kitchen
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood flooring in living areas and bedrooms; Vinyl flooring in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Ceiling fan(s); Partial, unfinished basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% 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: Enos Elem School (math 5% / reading 15%, grade F, #1,477 of 2,056 statewide, top 74%, 255 students, 0% FRL); U S Grant Middle School (math 6% / reading 15%, grade F, #580 of 665 statewide, top 88%, 529 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.
• Market conditions: Rents rising fast (+5.0%/yr); 137 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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: property tax is 3.1% of price; built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.46% ✓
• Cap rate: 10.32%
• Cash-on-cash: 14.38%
• DSCR: 1.64
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.3%
• Equity multiple: 1.29×
• Total profit: $6,552
• Equity at exit: $11,913

10-year hold

• IRR: 18.5%
• Equity multiple: 2.70×
• Total profit: $38,012
• Equity at exit: $6,908

Cash invested: $22,372 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,169 high
• Mortgage (P&I): −$419
• Tax from tax record: −$203 /mo · $2,438/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $268

Break-even live

Break-even rent $830

Max offer price $79,900

Occupancy floor 72%

Sensitivity live

Price	-10% $313	-5% $291	+0% $268	+5% $246	+10% $223
Rent	-10% $176	-5% $222	+0% $268	+5% $314	+10% $361
Rate	-1.0pp $308	-0.5pp $288	base $268	+0.5pp $247	+1.0pp $226

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1030 N MacArthur Blvd Springfield, IL	2.0	1.0	1400	$1,350	$0.96	23d	1	0.24mi
401 W Elliott Ave Unit A Springfield, IL	3.0	1.0	1100	$1,300	$1.18	46d	1	0.32mi
1224 N Rutledge St Springfield, IL	2.0	2.0	1200	$1,400	$1.17	23d	1	0.53mi
203 N Glenwood Ave Springfield, IL	2.0	1.0	850	$1,000	$1.18	23d	1	0.62mi
629 W Washington St Unit 4 Springfield, IL	2.0	1.0	700	$800	$1.14	46d	1	0.71mi
201 Eastman Ave Springfield, IL	2.0	1.0	812	$950	$1.17	46d	1	0.75mi
300 N Park Ave Springfield, IL	1.0–2.0	1.0	694	$1,035	$1.49	23d	1	0.77mi
216 N Lincoln Ave Springfield, IL	2.0	1.0	800	$1,200	$1.50	46d	1	0.77mi
1127 N 6th St Unit 2 Springfield, IL	1.0	1.0	900	$900	$1.00	46d	1	0.89mi
1413 N 5th St Springfield, IL	3.0	1.0	1200	$1,200	$1.00	23d	1	0.92mi
400 E Jefferson St Springfield, IL	2.0	1.0	1420	$1,220	$0.86	46d	1	0.98mi
8 S Old State Capitol Plz Unit 1031831P Springfield, IL	2.0	2.0	990	$2,927	$2.96	46d	1	1.12mi
1539 W Monroe St Springfield, IL	2.0	1.0	820	$2,000	$2.44	23d	1	1.17mi
423 W Lawrence Ave Unit 2 Springfield, IL	2.0	1.0	900	$1,050	$1.17	23d	1	1.23mi
1644 W Adams St Unit 1 Springfield, IL	2.0	1.0	950	$1,200	$1.26	46d	1	1.24mi
619 S 5th St Springfield, IL	1.0	1.0	750	$900	$1.20	46d	1	1.38mi
417 E Cook St Springfield, IL	1.0	1.0	700	$875	$1.25	46d	1	1.38mi

Listing history 14 events

1. 2026-06-22
   days on market $79,900 Active 18 DOM
2. 2026-06-19
   days on market $79,900 Active 16 DOM
3. 2026-06-18
   days on market $79,900 Active 15 DOM
4. 2026-06-17
   days on market $79,900 Active 14 DOM
5. 2026-06-16
   days on market $79,900 Active 13 DOM
6. 2026-06-15
   days on market $79,900 Active 12 DOM
7. 2026-06-14
   days on market $79,900 Active 10 DOM
8. 2026-06-13
   days on market $79,900 Active 9 DOM
9. 2026-06-10
   days on market $79,900 Active 7 DOM
10. 2026-06-09
    days on market $79,900 Active 6 DOM
11. 2026-06-08
    days on market $79,900 Active 5 DOM
12. 2026-06-07
    days on market $79,900 Active 4 DOM
13. 2026-06-05
    remarks 690-char remark
14. 2026-06-05
    listed $79,900 Active 1 DOM

ⓘ 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: $2,438 · $203/mo
• Projected year-2 tax: $2,438 · $203/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: $14,029
• − Mortgage interest: −$4,476
• − Property taxes: −$2,438
• − Insurance: −$400
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$2,324
• Taxable income: $2,147
• Est. tax owed @ 24.0%: −$515
• After-tax cash flow: $2,703/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

+63.4% since first listed

11 events — show timeline

• 2026-06-03 Listed $79,900 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
• 2021-06-15 Sold (Public Records) $69,900 Public Records
• 2021-06-10 Sold (MLS) $69,900 RMLSA as Distributed by MLS Grid
• 2021-05-13 Listed $69,900 RMLSA as Distributed by MLS Grid
• 2001-12-31 Sold (Public Records) $50,500 Public Records
• 2001-12-28 Sold (MLS) $50,200 RMLSA as Distributed by MLS Grid
• 2001-10-03 Listed $48,900 RMLSA as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $2,438 · +3.3% YoY. Source: county tax records.