2160 S 14th St · Springfield, IL 62703

$49,900

2 bd · 1.0 ba · 729 sqft · SingleFamily · 35 Days on market

Built 1930 5,885 sqft lot Est $48k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.8/15.0
• 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

INVESTOR'S DELIGHT!! This cute Bungalow style home would make a nice rental/income property or a super affordable personal home with minimal work needed. Could use a freshening up. Features 2BR, 1BA & unfinished basement. Inspections are welcome, but sold AS-IS. Opportunity awaits!

Key facts

• Large backyard
• 5,885 sq ft lot
• Parking

Tags

• LARGE BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($924 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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: Harvard Park Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 346 students, 0% FRL); Jefferson Middle School (math 3% / reading 8%, grade F, #635 of 665 statewide, top 95%, 539 students, 0% FRL); Springfield Southeast High Sch (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 1,261 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 (+12.2%/yr); 107 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% 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 $345 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 + 8.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.85% ✓
• Cap rate: 16.40%
• Cash-on-cash: 36.11%
• DSCR: 2.61
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $48,114
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2160 S 14th St	0.00mi	2/1.0	729 (0%)	1mo	$42,000	$58	100
2154 S 13th St	0.07mi	2/1.0	684 (-6%)	2mo	$45,000	$66	85
2129 S 12th St	0.18mi	1/1.0 (-1)	759 (+4%)	11mo	$37,500	$49	70
1637 Melrose St	0.29mi	2/1.5	756 (+4%)	10mo	$67,900	$90	70
1205 E South St	0.31mi	2/1.0	720 (-1%)	21mo	$68,000	$94	66
2409 S 11th St	0.41mi	2/1.0	672 (-8%)	13mo	$47,900	$71	57
1842 Martin Luther King Jr Dr	0.45mi	2/1.0	830 (+14%)	8mo	$70,000	$84	49
1221 E South Grand Ave	0.69mi	2/1.0	804 (+10%)	15mo	$42,000	$52	38
2329 S 8th St	0.57mi	1/1.0 (-1)	630 (-14%)	13mo	$25,500	$40	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 37.1%
• Equity multiple: 2.69×
• Total profit: $23,564
• Equity at exit: $7,440

10-year hold

• IRR: 46.1%
• Equity multiple: 6.52×
• Total profit: $77,187
• Equity at exit: $4,314

Cash invested: $13,972 (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 62703

• Home prices YoY: -28.9%
• Rents YoY: 12.2%
• Active inventory: 107
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $924 high
• Mortgage (P&I): −$262
• Tax from tax record: −$27 /mo · $324/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $420

Break-even live

Break-even rent $392

Max offer price $49,900

Occupancy floor 50%

Sensitivity live

Price	-10% $449	-5% $435	+0% $420	+5% $406	+10% $392
Rent	-10% $347	-5% $384	+0% $420	+5% $457	+10% $493
Rate	-1.0pp $446	-0.5pp $433	base $420	+0.5pp $407	+1.0pp $394

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2271 E Laurel St Apt 2277 Springfield, IL	2.0	1.0	600	$1,145	$1.91	22d	1	0.88mi
2277 E Laurel St Springfield, IL	2.0	1.0	600	$1,145	$1.91	45d	1	0.88mi
909 S 8th St Unit 4 Springfield, IL	1.0	1.0	550	$800	$1.45	22d	1	1.09mi
1500 S Lowell Ave Springfield, IL	1.0	1.0	590	$775	$1.31	45d	1	1.35mi
1301 S Whittier Ave Springfield, IL	1.0	1.0	506	$750	$1.48	45d	1	1.37mi
417 E Cook St Unit A Springfield, IL	1.0	1.0	550	$850	$1.55	22d	1	1.37mi
417 E Cook St Springfield, IL	1.0	1.0	700	$875	$1.25	45d	1	1.37mi
619 S 5th St Springfield, IL	1.0	1.0	750	$900	$1.20	45d	1	1.38mi
1004 S College St Springfield, IL	1.0	1.0	700	$800	$1.14	22d	1	1.38mi
2473 Ladley Ct Unit 2412-1 L Springfield, IL	2.0	1.0	700	$725	$1.04	45d	1	1.42mi
2473 Ladley Ct Unit 2520-8 RR Springfield, IL	1.0	1.0	580	$600	$1.03	45d	1	1.42mi
2473 Ladley Ct Unit 2108-2 B Springfield, IL	2.0	1.0	700	$825	$1.18	45d	1	1.42mi
2473 Ladley Ct Springfield, IL	1.0	1.0	580	$725	$1.25	45d	1	1.42mi

Listing history 7 events

1. 2026-04-03
   status Pending
2. 2026-02-27
   listed $49,900 Active
3. 2023-02-17
   soldstatus $51,120
4. 2018-11-20
   soldstatus $16,000 286-char remark

   Show marketing remark (286 chars)

   INVESTOR'S DELIGHT!! This cute Bungalow style home would make a nice rental/income property or a super affordable personal home with minimal work needed. Could use a freshening up. Features 2BR, 1BA & unfinished basement. Inspections are welcome, but sold AS-IS. Opportunity awaits!

5. 2018-07-02
   listed $19,900 286-char remark

   Show marketing remark (286 chars)

   INVESTOR'S DELIGHT!! This cute Bungalow style home would make a nice rental/income property or a super affordable personal home with minimal work needed. Could use a freshening up. Features 2BR, 1BA & unfinished basement. Inspections are welcome, but sold AS-IS. Opportunity awaits!

6. 1998-06-29
   soldstatus $8,000 145-char remark

   Show marketing remark (145 chars)

   To Be Sold As Is. Full Basement Has Stool & Laundry Hook Ups. Deep Lot Call Agent For Necessary Forms That Have To Accompany Purchase Offers.

7. 1998-03-06
   listed $15,900 145-char remark

   Show marketing remark (145 chars)

   To Be Sold As Is. Full Basement Has Stool & Laundry Hook Ups. Deep Lot Call Agent For Necessary Forms That Have To Accompany Purchase Offers.

ⓘ 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: $324 · $27/mo
• Projected year-2 tax: $728 · $61/mo
• Expected delta: +$404/yr (+$34/mo · 124.8%)

ⓘ 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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,087
• − Mortgage interest: −$2,795
• − Property taxes: −$324
• − Insurance: −$250
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$1,452
• Taxable income: $4,492
• Est. tax owed @ 24.0%: −$1,078
• After-tax cash flow: $3,967/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

+213.8% since first listed

7 events — show timeline

• 2026-04-03 Pending — RMLSA as Distributed by MLS Grid
• 2026-02-27 Listed $49,900 RMLSA as Distributed by MLS Grid
• 2023-02-17 Sold (Public Records) $51,120 Public Records
• 2018-11-20 Sold (MLS) $16,000 RMLSA as Distributed by MLS Grid
• 2018-07-02 Listed $19,900 RMLSA as Distributed by MLS Grid
• 1998-06-29 Sold (MLS) $8,000 RMLSA as Distributed by MLS Grid
• 1998-03-06 Listed $15,900 RMLSA as Distributed by MLS Grid

Property tax history

-2.3%/yr

Latest (2024): $324 · -5.0% YoY. Source: county tax records.