2245 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
Investment property for sale in Springfield at 2245 S Spring St, Springfield, IL, 62704 offers a 10.17% rental yield on a $179,999 purchase with $1,525/mo rent. Total monthly income registers $1,525/mo, and a $881/mo payment leaves $277/mo available for distribution. Annual cash flow reaches $3,318/yr on $59,670 to close, and return on cash invested stands at 25.47% in year one. Equity gained on principal adds $1,162/yr while 5% annual appreciation supports $49,730 over five years. Portfolio math shows five-year ROI at 133.68% and total cumulative return in cash at $79,768. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,525/mo property income against a $881/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1949
7,048 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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