342 W Reynolds St · Springfield, IL 62702

$49,900

4 bd · 2.0 ba · 1,561 sqft · Other · 315 Days on market

Built 1900 7,850 sqft lot $32/sqft · 55% below area

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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 +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

Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

Key facts

• Close to schools
• Close to downtown
• 7,850 sq ft lot

Tags

• CLOSE TO SCHOOLS
• CLOSE TO DOWNTOWN
• CLOSE TO MEDICAL DISTRICT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.4% 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: 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 32% 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 $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 + 5.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 315 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $50k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 315 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.77% ✓
• Cap rate: 22.38%
• Cash-on-cash: 57.47%
• DSCR: 3.56
• GRM: 3.0

CMA / ARV

• ARV (median comp): $111,185
• List price: $49,900
• Delta: -55.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.95% rent growth · sell at horizon

5-year hold

• IRR: 58.4%
• Equity multiple: 3.67×
• Total profit: $37,356
• Equity at exit: $7,440

10-year hold

• IRR: 63.9%
• Equity multiple: 8.12×
• Total profit: $99,461
• 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 62702

• Home prices YoY: -34.9%
• Rents YoY: 5.0%
• Active inventory: 131
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,380 high
• Mortgage (P&I): −$262
• Tax from tax record: −$138 /mo · $1,661/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $669

Break-even live

Break-even rent $533

Max offer price $49,900

Occupancy floor 47%

Sensitivity live

Price	-10% $697	-5% $683	+0% $669	+5% $655	+10% $641
Rent	-10% $560	-5% $615	+0% $669	+5% $724	+10% $778
Rate	-1.0pp $694	-0.5pp $682	base $669	+0.5pp $656	+1.0pp $643

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 6 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	44d	1	0.59mi
922 Governor St Springfield, IL	3.0	1.0	1682	$1,200	$0.71	44d	1	0.73mi
1413 N 5th St Springfield, IL	3.0	1.0	1200	$1,200	$1.00	21d	1	1.05mi
229 W Allen St Springfield, IL	3.0	1.5	1050	$1,305	$1.24	21d	1	1.13mi
1214 S 7th St Unit C Springfield, IL	3.0	1.0	1200	$1,350	$1.12	44d	1	1.36mi
1104 S 11th St Unit A Springfield, IL	3.0	1.0	1200	$1,000	$0.83	44d	1	1.46mi

Listing history 34 events

1. 2026-06-19
   days on market $49,900 Active 315 DOM
2. 2026-06-18
   days on market $49,900 Active 314 DOM
3. 2026-06-17
   days on market $49,900 Active 313 DOM
4. 2026-06-16
   days on market $49,900 Active 312 DOM
5. 2026-06-15
   days on market $49,900 Active 311 DOM
6. 2026-06-14
   days on market $49,900 Active 309 DOM
7. 2026-06-13
   days on market $49,900 Active 308 DOM
8. 2026-06-10
   days on market $49,900 Active 306 DOM
9. 2026-06-09
   days on market $49,900 Active 305 DOM
10. 2026-06-08
    days on market $49,900 Active 304 DOM
11. 2026-06-07
    days on market $49,900 Active 303 DOM
12. 2026-06-05
    days on market $49,900 Active 300 DOM
13. 2026-06-03
    days on market $49,900 Active 299 DOM
14. 2026-06-02
    days on market $49,900 Active 298 DOM
15. 2026-06-01
    days on market $49,900 Active 297 DOM
16. 2026-05-31
    price $49,900 Active 296 DOM
17. 2026-05-31
    days on market $55,000 Active 296 DOM
18. 2026-05-30
    days on market $55,000 Active 295 DOM
19. 2026-04-13
    status Active 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

20. 2026-04-13
    price $55,000 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

21. 2026-02-27
    status Pending 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

22. 2026-01-29
    price $62,500 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

23. 2025-12-23
    status Active 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

24. 2025-12-19
    historical 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

25. 2025-11-04
    price $77,900 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

26. 2025-10-02
    price $79,900 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

27. 2025-08-09
    price $85,000 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

28. 2025-08-06
    price $89,950 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

29. 2025-07-12
    price $94,900 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

30. 2025-06-20
    listed $99,900 Active 263-char remark

    Show marketing remark (263 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location- historic and established neighborhood! Close to schools, downtown, medical district and West side conveniences. Seller is upgrading electrical with entire new system. Selling AS-IS.

31. 2021-11-08
    soldstatus $37,500 160-char remark

    Show marketing remark (160 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location! Close to downtown, medical district and west side conveniences. Selling as is.

32. 2021-09-23
    listed $39,900 160-char remark

    Show marketing remark (160 chars)

    Solid home in need of some TLC. Hardwood under laminate flooring. Great location! Close to downtown, medical district and west side conveniences. Selling as is.

33. 2006-10-16
    soldstatus $35,000
34. 2005-06-01
    soldstatus $45,000

ⓘ 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: $1,661 · $138/mo
• Projected year-2 tax: $1,661 · $138/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 ≥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: $16,557
• − Mortgage interest: −$2,795
• − Property taxes: −$1,661
• − Insurance: −$250
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$1,452
• Taxable income: $7,750
• Est. tax owed @ 24.0%: −$1,860
• After-tax cash flow: $6,169/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

+22.2% since first listed

16 events — show timeline

• 2026-04-13 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-13 Price Changed $55,000 RMLSA as Distributed by MLS Grid
• 2026-02-27 Pending — RMLSA as Distributed by MLS Grid
• 2026-01-29 Price Changed $62,500 RMLSA as Distributed by MLS Grid
• 2025-12-23 Relisted — RMLSA as Distributed by MLS Grid
• 2025-12-19 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-04 Price Changed $77,900 RMLSA as Distributed by MLS Grid
• 2025-10-02 Price Changed $79,900 RMLSA as Distributed by MLS Grid
• 2025-08-09 Price Changed $85,000 RMLSA as Distributed by MLS Grid
• 2025-08-06 Price Changed $89,950 RMLSA as Distributed by MLS Grid
• 2025-07-12 Price Changed $94,900 RMLSA as Distributed by MLS Grid
• 2025-06-20 Listed $99,900 RMLSA as Distributed by MLS Grid
• 2021-11-08 Sold (MLS) $37,500 RMLSA as Distributed by MLS Grid
• 2021-09-23 Listed $39,900 RMLSA as Distributed by MLS Grid
• 2006-10-16 Sold (Public Records) $35,000 Public Records
• 2005-06-01 Sold (Public Records) $45,000 Public Records

Property tax history

+4.3%/yr

Latest (2024): $1,661 · +4.0% YoY. Source: county tax records.