3224 S Spring StSouthern ViewIL62703
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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 Southern View at 3224 S Spring St, Southern View, IL, 62703 offers a 9.62% rental yield on a $104,500 purchase with $838/mo rent. Total monthly income registers $838/mo, and a $511/mo payment leaves $114/mo available for distribution. Annual cash flow reaches $1,364/yr on $34,642 to close, and return on cash invested stands at 23.85% in year one. Equity gained on principal adds $674/yr while 5% annual appreciation supports $28,871 over five years. Portfolio math shows five-year ROI at 124.98% and total cumulative return in cash at $43,297. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $838/mo property income against a $511/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1960
0.26 Acres 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
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Listed by: Roger L Nesch • Keller Williams Capital
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #CA1032397
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.