2937 S 3rd StSouthern ViewIL62703
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 2937 S 3rd St, Southern View, IL, 62703 in Southern View deserves attention. This $101,000 property earns $1,321/mo in rent, a 15.7% gross yield, and nets $620/mo after the $454/mo payment. DSCR 2.91 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $27,904 compounds alongside $930/yr in yearly equity build, for a total cumulative return of $78,574.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 15.7% | 12.0% |
| Monthly Cash Flow | $620 | $150 |
City averages based on Southern View market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,321 |
| Total Monthly Debt Service | $660 |
| DSCR Ratio | 2.00x |
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 N/A
7,997 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62703, Springfield, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,796 (100%) |
| Owner Occupied HU | 6,719 (48.7%) |
| Renter Occupied HU | 5,111 (37.0%) |
| Vacant Housing Units | 1,966 (14.3%) |
| Median Home Value | $106,497 |
| Average Home Value | $153,646 |
Housing Distribution
Address Breakdown
Residential
12,927
Single Family
11,565
Multi-Family
1,362
Businesses
1,237
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 N/A
7,997 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62703, Springfield, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,796 (100%) |
| Owner Occupied HU | 6,719 (48.7%) |
| Renter Occupied HU | 5,111 (37.0%) |
| Vacant Housing Units | 1,966 (14.3%) |
| Median Home Value | $106,497 |
| Average Home Value | $153,646 |
Housing Distribution
Address Breakdown
Residential
12,927
Single Family
11,565
Multi-Family
1,362
Businesses
1,237
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Steve A Contri • RE/MAX Professionals
Mls Name: RMLS Alliance
Mls ID: #CA1040533