2340 Grinnell DrSpringfieldIL62704
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowFew Springfield rentals match the income profile of 2340 Grinnell Dr, Springfield, IL, 62704. Listed at $207,000, gross rent is $1,990/mo and net cash flow is $554/mo, a 11.53% yield well above national averages. DSCR 2.03 means Ziffy Mortgage can approve your loan on the property's income alone, bypassing personal income verification. The 5% annual appreciation trend adds $57,190 by year five with $1,735/yr in annual principal reduction, projecting $110,993 in total cumulative return.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.5% | 7.2% |
| Monthly Cash Flow | $554 | $450 |
City averages based on Springfield market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $1,990 |
| Total Monthly Debt Service | $1,404 |
| DSCR Ratio | 1.42x |
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 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1968
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: RMLS Alliance as distributed by MLS GRID
Mls Provider:
Mls ID: #CA1046008
