1509 S Spring 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 1509 S Spring St, Springfield, IL, 62704 offers $2,672/mo rent that, after a $570/mo payment, leaves $1,764/mo cash flow. Total monthly income is $2,672/mo, and annual cash flow is $21,165/yr on $38,620 cash. Return on cash invested measures 74.71% in year one, and rental yield stands at 27.52% at a $116,500 entry. Equity gained on principal adds $752/yr while 5% annual appreciation compounds into $32,187 by year five. Five-year ROI records 398.84% and total cumulative return in cash reaches $154,032. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,672/mo property income versus a $570/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1918
4,408 sqft 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: John T Mcintyre • Do Realty Services, Inc.
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #CA1028454
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.