2491 W Washington StSpringfieldIL62702
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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 2491 W Washington St, Springfield, IL, 62702 uses $72,234 cash to close to unlock $6,001/yr annual cash flow and $500/mo monthly cash flow. Total monthly income runs $2,012/mo, and a $1,067/mo payment keeps the spread at $500/mo. Purchase price stands at $217,900, and rental yield measures 11.08% with $2,012/mo rent. Return on cash invested shows 28.22% in year one, and 5% annual appreciation builds toward $60,202 over five years. Five-year ROI reaches 148.43% and total cumulative return in cash records $107,220. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,012/mo property income covering a $1,067/mo payment rather than investor’s personal income.
Single Family
Built in 1955
0.28 Acres 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
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Listed by: KC Sullivan • The Real Estate Group, Inc.
Mls Name: RMLS Alliance
Mls ID: #CA1040721