1935 S 5th St · Springfield, IL 62703

$15,000

4 bd · 2.0 ba · 1,587 sqft · Other · 44 Days on market

4,080 sqft lot ↓ 44% 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 +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors: this duplex property is in need of renovation but has a lot of potential to generate the great incomes. Lower unit has 4 bedrooms with 1 bathroom, upstairs unit 1 bedroom with 1 bathroom, all electric in upper unit with separate electric meter, main level unit also has separate gas and electric meters, the owner paid water for both units. The price reflects the defects and being sold as-is. All information believed to be accurate but not warranted.

Key facts

• 4,080 sq ft lot
• 2 parking spots
• Listed 44 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $15k).
• Recommended offer: $15k (3.0% below list) — sets the bar for market timing.
• Cap rate 93.8% 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 (+12.2%/yr); 107 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).
• This rent runs 40% of the median local income ($45k/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 $104 of loan paydown is wiped out by about $450 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 + 8.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $14k (48%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $14,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 10.10% ✓
• Cap rate: 93.78%
• Cash-on-cash: 312.44%
• DSCR: 14.90
• GRM: 0.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 18.92×
• Total profit: $75,248
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 46.65×
• Total profit: $191,751
• Equity at exit: $1,297

Cash invested: $4,200 (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 62703

• Home prices YoY: -28.9%
• Rents YoY: 12.2%
• Active inventory: 107
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $1,094

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 23%

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: $3,750
• Closing costs: $450
• 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	0.18mi
1726 S 6th St Springfield, IL	3.0	1.5	1408	$1,500	$1.07	44d	1	0.32mi
1600 S 6th St Unit 1 Springfield, IL	3.0	2.0	1100	$1,250	$1.14	21d	1	0.42mi
2328 S 10th St Springfield, IL	3.0	1.0	1100	$1,200	$1.09	44d	1	0.51mi
1213 E Ash St Springfield, IL	3.0	2.0	1861	$2,030	$1.09	21d	1	0.58mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	44d	1	0.70mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	0.84mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	44d	1	0.91mi
1929 E Spruce St Springfield, IL	3.0	1.0	1500	$1,300	$0.87	44d	1	1.21mi

Listing history 12 events

1. 2026-05-04
   status Pending 473-char remark

   Show marketing remark (473 chars)

   Attention investors: this duplex property is in need of renovation but has a lot of potential to generate the great incomes. Lower unit has 4 bedrooms with 1 bathroom, upstairs unit 1 bedroom with 1 bathroom, all electric in upper unit with separate electric meter, main level unit also has separate gas and electric meters, the owner paid water for both units. The price reflects the defects and being sold as-is. All information believed to be accurate but not warranted.

2. 2026-04-27
   price $15,000 473-char remark

   Show marketing remark (473 chars)

   Attention investors: this duplex property is in need of renovation but has a lot of potential to generate the great incomes. Lower unit has 4 bedrooms with 1 bathroom, upstairs unit 1 bedroom with 1 bathroom, all electric in upper unit with separate electric meter, main level unit also has separate gas and electric meters, the owner paid water for both units. The price reflects the defects and being sold as-is. All information believed to be accurate but not warranted.

3. 2026-03-20
   listed $29,000 Active 473-char remark

   Show marketing remark (473 chars)

   Attention investors: this duplex property is in need of renovation but has a lot of potential to generate the great incomes. Lower unit has 4 bedrooms with 1 bathroom, upstairs unit 1 bedroom with 1 bathroom, all electric in upper unit with separate electric meter, main level unit also has separate gas and electric meters, the owner paid water for both units. The price reflects the defects and being sold as-is. All information believed to be accurate but not warranted.

4. 2021-08-06
   historical
5. 2021-08-06
   historical
6. 2021-08-06
   historical
7. 2021-08-06
   historical
8. 2013-06-06
   soldstatus $26,000
9. 2013-05-28
   soldstatus $13,000
10. 2013-02-18
    listed $17,500
11. 2000-12-14
    soldstatus $18,500
12. 2000-11-30
    listed $26,900

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $18,185
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − Depreciation: −$436
• Taxable income: $13,699
• Est. tax owed @ 24.0%: −$3,288
• After-tax cash flow: $9,835/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): 28,922
• Household income: $45,009
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1626.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Black 35% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Arabic 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: ▼ -59.69%
• Current HPI: 147.0877
• Rent YoY: ▲ 12.19%
• 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

-44.2% since first listed

12 events — show timeline

• 2026-05-04 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-27 Price Changed $15,000 RMLSA as Distributed by MLS Grid
• 2026-03-20 Listed $29,000 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
• 2013-06-06 Sold (Public Records) $26,000 Public Records
• 2013-05-28 Sold (MLS) $13,000 RMLSA as Distributed by MLS Grid
• 2013-02-18 Listed $17,500 RMLSA as Distributed by MLS Grid
• 2000-12-14 Sold (MLS) $18,500 RMLSA as Distributed by MLS Grid
• 2000-11-30 Listed $26,900 RMLSA as Distributed by MLS Grid

Property tax history

+8.2%/yr

Latest (2024): $833 · +4.0% YoY. Source: county tax records.