958 N 2nd St · Springfield, IL 62702

$114,900

3 bd · 1.0 ba · 1,312 sqft · SingleFamily · 2 Days on market

Built 1909 6,440 sqft lot Est $130k · 12% under

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Why this score? — see what drove the C+ 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 +25.1/30.0
• ARV discount +12.7/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• 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

2 story with 3 bdrms close to park and shopping. Kitchen remodel in 04 with new kitchen cabinets, flooring, stove, sink and dishwasher. 200 amp service panel, water heater and washer and dryer new in 01. Nice large yard. Home being sold "AS IS".

Key facts

• Abundant windows
• Original woodwork
• Hardwood floors

Tags

• EXTENSIVE EXTERIOR UPDATES
• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• WIDE-OPEN LIVING SPACE
• ABUNDANT WINDOWS
• FUNCTIONAL KITCHEN LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 8.9% 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: Mcclernand Elem School (math 5% / reading 5%, grade F, #1,741 of 2,056 statewide, top 93%, 191 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 31% 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 $794 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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 $34k; list at $115k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,900

Questions for the listing agent

1. Built in 1909 — 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. 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.
6. 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.
7. 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: 1.15% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.43%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $129,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
958 N 2nd St	0.00mi	3/1.0	1,312 (0%)	1mo	$116,000	$88	99
1129 N 5th St	0.25mi	2/1.5 (-1)	1,280 (-2%)	2mo	$126,500	$99	75
1408 N 3rd St	0.50mi	3/1.5	1,305 (-0%)	6mo	$129,900	$100	69
1060 N 1st St	0.16mi	3/1.0	1,465 (+12%)	8mo	$29,925	$20	66
1123 Rutledge St	0.32mi	2/1.0 (-1)	1,182 (-10%)	6mo	$65,000	$55	58
1517 N 5th St	0.66mi	3/2.0	1,352 (+3%)	3mo	$190,000	$141	58
1111 N Walnut St	0.61mi	3/1.0	1,401 (+7%)	4mo	$144,000	$103	57
616 W Calhoun Ave	0.51mi	2/1.5 (-1)	1,262 (-4%)	7mo	$99,000	$78	57
1025 N Walnut St	0.59mi	3/1.0	1,196 (-9%)	9mo	$117,000	$98	50
1521 N 3rd St	0.66mi	2/1.5 (-1)	1,243 (-5%)	9mo	$119,900	$96	46
1022 N Walnut St	0.56mi	3/1.5	1,126 (-14%)	4mo	$117,000	$104	45
908 N Walnut St	0.56mi	2/2.0 (-1)	1,176 (-10%)	5mo	$136,500	$116	44

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 · 4.95% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $149
• Equity at exit: $17,132

10-year hold

• IRR: 11.7%
• Equity multiple: 2.00×
• Total profit: $32,239
• Equity at exit: $9,934

Cash invested: $32,172 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,323 high
• Mortgage (P&I): −$603
• Tax from tax record: −$142 /mo · $1,700/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $253

Break-even live

Break-even rent $1,003

Max offer price $114,900

Occupancy floor 76%

Sensitivity live

Price	-10% $318	-5% $285	+0% $253	+5% $220	+10% $188
Rent	-10% $148	-5% $201	+0% $253	+5% $305	+10% $357
Rate	-1.0pp $311	-0.5pp $282	base $253	+0.5pp $223	+1.0pp $193

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 W Elliott Ave Unit A Springfield, IL	3.0	1.0	1100	$1,300	$1.18	45d	1	0.37mi
1224 N Rutledge St Springfield, IL	2.0	2.0	1200	$1,400	$1.17	23d	1	0.43mi
1413 N 5th St Springfield, IL	3.0	1.0	1200	$1,200	$1.00	23d	1	0.54mi
400 E Jefferson St Springfield, IL	2.0	1.0	1420	$1,220	$0.86	45d	1	0.66mi
1030 N MacArthur Blvd Springfield, IL	2.0	1.0	1400	$1,350	$0.96	23d	1	0.80mi
8 S Old State Capitol Plz Unit 1031831P Springfield, IL	2.0	2.0	990	$2,927	$2.96	45d	1	0.82mi
920 N 19th St Springfield, IL	3.0	1.0	1000	$1,100	$1.10	23d	1	1.24mi
922 Governor St Springfield, IL	3.0	1.0	1682	$1,200	$0.71	45d	1	1.25mi
423 W Lawrence Ave Unit 2 Springfield, IL	2.0	1.0	900	$1,050	$1.17	23d	1	1.26mi

Listing history 8 events

1. 2026-03-30
   status Pending
2. 2026-03-27
   listed $114,900 Active
3. 2009-12-02
   soldstatus $34,000
4. 2009-12-01
   soldstatus $33,900 255-char remark

   Show marketing remark (255 chars)

   2 story with 3 bdrms close to park and shopping. Kitchen remodel in 04 with new kitchen cabinets, flooring, stove, sink and dishwasher. 200 amp service panel, water heater and washer and dryer new in 01. Nice large yard. Home being sold "AS IS".

5. 2009-01-19
   listed $39,900 255-char remark

   Show marketing remark (255 chars)

   2 story with 3 bdrms close to park and shopping. Kitchen remodel in 04 with new kitchen cabinets, flooring, stove, sink and dishwasher. 200 amp service panel, water heater and washer and dryer new in 01. Nice large yard. Home being sold "AS IS".

6. 2004-08-31
   soldstatus $32,000
7. 2004-08-30
   soldstatus $32,000 228-char remark

   Show marketing remark (228 chars)

   Sturdy 2 Story Two Doors From The Park And Near Schools & Shopping. Lots Of Storage And Large Yard. 200 Amp Elect. Service Panel New In 2001. Some New Windows And Wall Work. Home Being Sold `As Is`. Hot Water Heater In 2003.

8. 2004-06-17
   listed $35,900 228-char remark

   Show marketing remark (228 chars)

   Sturdy 2 Story Two Doors From The Park And Near Schools & Shopping. Lots Of Storage And Large Yard. 200 Amp Elect. Service Panel New In 2001. Some New Windows And Wall Work. Home Being Sold `As Is`. Hot Water Heater In 2003.

ⓘ 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: $1,700 · $142/mo
• Projected year-2 tax: $2,154 · $180/mo
• Expected delta: +$454/yr (+$38/mo · 26.7%)

ⓘ 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: $15,872
• − Mortgage interest: −$6,436
• − Property taxes: −$1,700
• − Insurance: −$574
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$3,343
• Taxable income: $1,280
• Est. tax owed @ 24.0%: −$307
• After-tax cash flow: $2,727/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

+220.1% since first listed

8 events — show timeline

• 2026-03-30 Pending — RMLSA as Distributed by MLS Grid
• 2026-03-27 Listed $114,900 RMLSA as Distributed by MLS Grid
• 2009-12-02 Sold (Public Records) $34,000 Public Records
• 2009-12-01 Sold (MLS) $33,900 RMLSA as Distributed by MLS Grid
• 2009-01-19 Listed $39,900 RMLSA as Distributed by MLS Grid
• 2004-08-31 Sold (Public Records) $32,000 Public Records
• 2004-08-30 Sold (MLS) $32,000 RMLSA as Distributed by MLS Grid
• 2004-06-17 Listed $35,900 RMLSA as Distributed by MLS Grid

Property tax history

+11.0%/yr

Latest (2024): $1,700 · +7.0% YoY. Source: county tax records.