6 Sycamore Row · Springfield, IL 62702

$74,900

3 bd · 2.5 ba · 1,260 sqft · Condo · 30 Days on market

Built 1980 $300/mo HOA · 21% of rent

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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 +28.1/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Welcome to 6 Sycamore Row, your maintenance-free retreat in the heart of Springfield! This spacious 3-bed, 2.5-bath condo offers flexible living with two dining areas, perfect for hosting or converting one into a bright home office. Thoughtful updates throughout the home provide a fresh, inviting feel the moment you walk in. Enjoy a peaceful vista from your private patio and the convenience of two assigned parking spaces right at your doorstep. The HOA covers exterior maintenance, lawn care, snow removal, lot upkeep, and trash service, giving you all the benefits of homeownership without the hassle.

Key facts

• Two dining areas
• Private patio
• $300 HOA

Tags

• TWO DINING AREAS
• PRIVATE PATIO
• TWO ASSIGNED PARKING SPACES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% 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; 1 comparable units currently listed for rent nearby; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).
• This rent runs 33% 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 $518 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 $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $55k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.88% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.49%
• DSCR: 1.60
• GRM: 4.4

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: 7.0%
• Equity multiple: 1.28×
• Total profit: $5,937
• Equity at exit: $11,168

10-year hold

• IRR: 18.8%
• Equity multiple: 2.79×
• Total profit: $37,526
• Equity at exit: $6,476

Cash invested: $20,972 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,410 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$154 /mo · $1,848/yr
• Insurance: −$31
• HOA: −$300
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $236

Break-even live

Break-even rent $1,111

Max offer price $74,900

Occupancy floor 78%

Sensitivity live

Price	-10% $278	-5% $257	+0% $236	+5% $214	+10% $193
Rent	-10% $124	-5% $180	+0% $236	+5% $291	+10% $347
Rate	-1.0pp $273	-0.5pp $255	base $236	+0.5pp $216	+1.0pp $197

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3430 N Peoria Rd Springfield, IL	3.0	2.0	1056	$1,129	$1.07	22d	1	0.26mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: trashlandscapingsnow removalexterior maint.parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-09
   status Pending 606-char remark

   Show marketing remark (606 chars)

   Welcome to 6 Sycamore Row, your maintenance-free retreat in the heart of Springfield! This spacious 3-bed, 2.5-bath condo offers flexible living with two dining areas, perfect for hosting or converting one into a bright home office. Thoughtful updates throughout the home provide a fresh, inviting feel the moment you walk in. Enjoy a peaceful vista from your private patio and the convenience of two assigned parking spaces right at your doorstep. The HOA covers exterior maintenance, lawn care, snow removal, lot upkeep, and trash service, giving you all the benefits of homeownership without the hassle.

2. 2026-04-09
   listed $74,900 Active 606-char remark

   Show marketing remark (606 chars)

   Welcome to 6 Sycamore Row, your maintenance-free retreat in the heart of Springfield! This spacious 3-bed, 2.5-bath condo offers flexible living with two dining areas, perfect for hosting or converting one into a bright home office. Thoughtful updates throughout the home provide a fresh, inviting feel the moment you walk in. Enjoy a peaceful vista from your private patio and the convenience of two assigned parking spaces right at your doorstep. The HOA covers exterior maintenance, lawn care, snow removal, lot upkeep, and trash service, giving you all the benefits of homeownership without the hassle.

3. 2026-03-10
   historical
4. 2020-05-19
   soldstatus $55,000
5. 2020-05-12
   soldstatus $55,000
6. 2020-02-24
   listed $64,900
7. 2015-09-15
   soldstatus $60,000
8. 2007-06-27
   soldstatus $65,000
9. 2002-07-15
   soldstatus $50,000

ⓘ 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: $1,848 · $154/mo
• Projected year-2 tax: $1,848 · $154/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 ≥104°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: $16,917
• − Mortgage interest: −$4,196
• − Property taxes: −$1,848
• − Insurance: −$374
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − HOA: −$3,600
• − Depreciation: −$2,179
• Taxable income: $2,013
• Est. tax owed @ 24.0%: −$483
• After-tax cash flow: $2,345/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

+49.8% since first listed

9 events — show timeline

• 2026-05-09 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-09 Listed $74,900 RMLSA as Distributed by MLS Grid
• 2026-03-10 Listing Removed — RMLSA as Distributed by MLS Grid
• 2020-05-19 Sold (Public Records) $55,000 Public Records
• 2020-05-12 Sold (MLS) $55,000 RMLSA as Distributed by MLS Grid
• 2020-02-24 Listed $64,900 RMLSA as Distributed by MLS Grid
• 2015-09-15 Sold (Public Records) $60,000 Public Records
• 2007-06-27 Sold (Public Records) $65,000 Public Records
• 2002-07-15 Sold (Public Records) $50,000 Public Records

Property tax history

+3.5%/yr

Latest (2024): $1,848 · +4.0% YoY. Source: county tax records.