3006 Sandgate Rd · Springfield, IL 62702

$135,000

2 bd · 1.0 ba · 958 sqft · SingleFamily · 3 Days on market

Built 1977 7,150 sqft lot Est $130k · at est.

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Why this score? — see what drove the F 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 +9.6/30.0
• ARV discount +5.9/15.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +3.7/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 3006 Sandgate Rd. Nestled in the desirable Northgate neighborhood, this charming 2 bedroom, 1 bath ranch offers endless potential. Step inside to a bright and inviting living room featuring beautiful floors and plenty of natural light. The functional kitchen provides an efficient layout with dining space nearby. The spacious primary bedroom offers generous closet storage, while the second bedroom is perfect for guests, a home office, or hobby space. A full unfinished basement provides abundant storage and the opportunity to create additional finished living space in the future. Outside, enjoy a large backyard ideal for entertaining, gardening, or simply relaxing. Complete wi

Key facts

• Functional kitchen
• Large backyard
• Bright living room

Tags

• NORTHGATE NEIGHBORHOOD
• BRIGHT LIVING ROOM
• FUNCTIONAL KITCHEN
• FULL UNFINISHED BASEMENT
• LARGE BACKYARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1977
• Construction: Shingle roof; Full unfinished basement
• Exterior features: Level lot

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 2 bedrooms (main level)
• Flooring: Carpet (some bedrooms); Laminate (living, dining, kitchen)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (11.6% below list).
• Recommended offer: $119k (12.1% below list) — sets the bar for cash-flow.

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; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $933 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $135k implies a 160% gain — meaningful room to come down on a strong offer.

Recommended offer $118,712 (12.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1977 — 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. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 5.47%
• Cash-on-cash: -2.93%
• DSCR: 0.87
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $130,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3008 Dunwich Ave	0.30mi	2/1.0	1,000 (+4%)	6mo	$124,900	$125	74
2916 E Griffiths Ave	0.13mi	3/1.0 (+1)	1,031 (+8%)	11mo	$142,000	$138	67
2800 E Keys Ave	0.54mi	3/1.0 (+1)	950 (-1%)	2mo	$68,000	$72	67
2512 Sutherland Rd	0.52mi	3/1.0 (+1)	950 (-1%)	3mo	$162,000	$171	67
1844 Stanhope Rd	0.34mi	3/1.0 (+1)	1,038 (+8%)	11mo	$123,000	$118	56
1840 Camden Rd	0.51mi	3/1.5 (+1)	936 (-2%)	12mo	$155,000	$166	56
2517 Sandgate Rd	0.61mi	3/1.0 (+1)	912 (-5%)	7mo	$125,000	$137	53
2304 Sutherland Rd	0.68mi	2/1.0	1,050 (+10%)	2mo	$65,000	$62	51
2272 E Black Ave	0.72mi	3/1.0 (+1)	864 (-10%)	3mo	$120,000	$139	43
1812 Camden St	0.55mi	3/2.0 (+1)	1,048 (+9%)	12mo	$105,000	$100	40
2338 Ramsey Ave	0.66mi	3/1.0 (+1)	864 (-10%)	12mo	$100,000	$116	38
1618 N Stephens Ave	0.65mi	3/2.0 (+1)	1,100 (+15%)	10mo	$150,000	$136	28

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: -18.7%
• Equity multiple: 0.33×
• Total profit: $-25,281
• Equity at exit: $20,129

10-year hold

• IRR: -7.2%
• Equity multiple: 0.50×
• Total profit: $-19,055
• Equity at exit: $11,672

Cash invested: $37,800 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,193 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$271 /mo · $3,249/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-92

Break-even live

Break-even rent $1,310

Max offer price $118,712

Occupancy floor —

Sensitivity live

Price	-10% $-16	-5% $-54	+0% $-92	+5% $-130	+10% $-169
Rent	-10% $-186	-5% $-139	+0% $-92	+5% $-45	+10% $2
Rate	-1.0pp $-24	-0.5pp $-58	base $-92	+0.5pp $-127	+1.0pp $-163

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2281 E Keys Ave Springfield, IL	2.0	1.0	800	$1,200	$1.50	44d	1	0.82mi
3617 N Grand Ave E Springfield, IL	3.0	2.0	1056	$1,179	$1.12	22d	1	0.98mi
3064 Louise Ln Springfield, IL	3.0	1.0	1100	$1,350	$1.23	22d	1	0.99mi
1036 N Indiana Ave Springfield, IL	2.0	1.0	672	$1,100	$1.64	44d	1	1.45mi

Listing history 4 events

1. 2026-06-19
   days on market $135,000 Active 3 DOM
2. 2026-06-18
   days on market $135,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $135,000 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: $3,249 · $271/mo
• Projected year-2 tax: $3,249 · $271/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 · 21 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: $14,320
• − Mortgage interest: −$7,562
• − Property taxes: −$3,249
• − Insurance: −$675
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − Depreciation: −$3,927
• Taxable loss: −$3,384
• Est. tax savings @ 24.0%: +$812
• After-tax cash flow: $-294/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

+159.6% since first listed

2 events — show timeline

• 2026-06-16 Listed $135,000 RMLSA as Distributed by MLS Grid
• 1996-04-30 Sold (Public Records) $52,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,249 · +4.5% YoY. Source: county tax records.