1021 W Monroe StSpringfieldIL62704
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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
Investment Highlights
Rental property for sale in Springfield at 1021 W Monroe St, Springfield, IL, 62704 generates $795/mo in rent and, after a $511/mo payment, leaves $71/mo in cash flow. Total monthly income is $795/mo, and annual cash flow is $848/yr on $34,642 invested. Return on cash invested sits at 22.36% in year one, and rental yield is 9.13% on a $104,500 entry. Equity gained on principal adds $674/yr, while 5% annual appreciation builds toward $28,871 over five years. Five-year ROI reaches 116.98% and total cumulative return in cash sums $40,525. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $795/mo property income rather than buyer’s personal income.
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
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Listed by: Philip E Chiles • Keller Williams Capital
Mls Name: RMLS Alliance
Mls ID: #CA1040482