3131 Turning Mill DrSpringfieldIL62704
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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 3131 Turning Mill Dr, Springfield, IL, 62704 uses $75,251 cash to close to unlock $5,718/yr annual cash flow and $477/mo monthly cash flow. Total monthly income runs $2,051/mo, and a $1,111/mo payment keeps the spread at $477/mo. Purchase price stands at $227,000, and rental yield measures 10.84% with $2,051/mo rent. Return on cash invested shows 27.51% in year one, and 5% annual appreciation builds toward $62,716 over five years. Five-year ROI reaches 144.61% and total cumulative return in cash records $108,817. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,051/mo property income covering a $1,111/mo payment rather than investor’s personal income.
Single Family
Built in 1989
6,682 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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Listed by: Jerry George • The Real Estate Group, Inc.
Mls Name: RMLS Alliance
Mls ID: #CA1040919