2201 W Washington St #19SpringfieldIL62702
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe income profile at 2201 W Washington St #19, Springfield, IL, 62702 in Springfield is straightforward: $220,000 in, $2,123/mo in rent, $227/mo out after debt service. The 11.58% gross yield and 2.15 DSCR make this exactly the kind of asset Ziffy Mortgage finances for non-U.S. residents without income documentation. Appreciation at 5%/yr adds $60,782 by year five. With $2,026/yr in principal equity, the total cumulative return is projected at $100,370.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.6% | 7.2% |
| Monthly Cash Flow | $227 | $450 |
City averages based on Springfield market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,123 |
| Total Monthly Debt Service | $1,808 |
| DSCR Ratio | 1.17x |
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.
Condo
Built in 1978
N/A lot
$N/A/sqft
$370 monthly 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
Condo
Built in 1978
N/A lot
$N/A/sqft
$370 monthly 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: Kaye Brittin • RE/MAX Professionals
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #CA1036278
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-18 04:42:48 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#564)