209 E Spruce StSpringfieldIL62704
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 209 E Spruce St, Springfield, IL, 62704 in Springfield is narrow, $70/mo net on $895/mo rent after the $535/mo debt service, but the property operates at break-even-plus, not a loss. At $118,900 with a 9.03% yield, the long-run equity case via 5% appreciation ($32,850 over five years) and $1,095/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.67 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $50,012.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 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 | $895 |
| Total Monthly Debt Service | $777 |
| DSCR Ratio | 1.15x |
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 1920
6,120 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
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 1920
6,120 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Stephanie L Do • Do Realty Services, Inc.
Mls Name: RMLS Alliance
Mls ID: #CA1039051