1021 W Monroe StSpringfieldIL62704
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 1021 W Monroe St, Springfield, IL, 62704 in Springfield at $104,500 earns $795/mo in rent and nets $70/mo after the $470/mo payment, a 9.13% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $28,871 over five years. Ziffy Mortgage underwrites this on a 1.69 DSCR without U.S. credit history. With $962/yr in principal paydown, total projected return reaches $44,491.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 7.2% |
| Monthly Cash Flow | $70 | $450 |
City averages based on Springfield market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $795 |
| Total Monthly Debt Service | $683 |
| DSCR Ratio | 1.16x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1927
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62704, Springfield, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,933 (100%) |
| Owner Occupied HU | 11,549 (55.2%) |
| Renter Occupied HU | 7,218 (34.5%) |
| Vacant Housing Units | 2,166 (10.3%) |
| Median Home Value | $183,145 |
| Average Home Value | $213,920 |
Housing Distribution
Address Breakdown
Residential
19,620
Single Family
16,565
Multi-Family
3,055
Businesses
1,620
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Single Family
Built in 1927
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62704, Springfield, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,933 (100%) |
| Owner Occupied HU | 11,549 (55.2%) |
| Renter Occupied HU | 7,218 (34.5%) |
| Vacant Housing Units | 2,166 (10.3%) |
| Median Home Value | $183,145 |
| Average Home Value | $213,920 |
Housing Distribution
Address Breakdown
Residential
19,620
Single Family
16,565
Multi-Family
3,055
Businesses
1,620
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Philip E Chiles • Keller Williams Capital
Mls Name: RMLS Alliance
Mls ID: #CA1040482