1816 N 22nd StSpringfieldIL62702
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderReliable and efficiently structured, 1816 N 22nd St, Springfield, IL, 62702 in Springfield is a conservative rental investment at $188,000. Rental yield 7.86%. A 1.47 coverage ratio meets Ziffy Mortgage's DSCR standard for foreign-national financing. Five-year equity: 5% appreciation adds $51,941; $1,732/yr in principal paydown supplements. Total projected return: $64,758.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 7.2% |
| Monthly Cash Flow | $(108) | $450 |
City averages based on Springfield market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,244 |
| Total Monthly Debt Service | $1,285 |
| DSCR Ratio | 0.97x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1950
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62702, Springfield, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,461 (100%) |
| Owner Occupied HU | 9,223 (52.8%) |
| Renter Occupied HU | 5,839 (33.4%) |
| Vacant Housing Units | 2,399 (13.7%) |
| Median Home Value | $107,233 |
| Average Home Value | $139,772 |
Housing Distribution
Address Breakdown
Residential
16,552
Single Family
14,916
Multi-Family
1,636
Businesses
931
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 1950
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62702, Springfield, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,461 (100%) |
| Owner Occupied HU | 9,223 (52.8%) |
| Renter Occupied HU | 5,839 (33.4%) |
| Vacant Housing Units | 2,399 (13.7%) |
| Median Home Value | $107,233 |
| Average Home Value | $139,772 |
Housing Distribution
Address Breakdown
Residential
16,552
Single Family
14,916
Multi-Family
1,636
Businesses
931
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Melissa D Smith • MCR Realty Professionals, Inc
Mls Name: MARIS
Mls Provider:
Mls ID: #25028745
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