3321 Merrimac 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 3321 Merrimac Dr, Springfield, IL, 62704 earns $190/mo cash flow from $1,507/mo rent with a $929/mo payment. Total monthly income totals $1,507/mo, and annual cash flow totals $2,283/yr on $62,952 capital. ROI tracks 23.54% on current figures, and rental yield reads 9.52% at a $189,900 purchase. Equity gained on principal adds $1,225/yr, and 5% annual appreciation supports $52,466 over five years. Five-year ROI reaches 123.32% and total cumulative return in cash sums $77,633. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,507/mo property income instead of your personal income.
Single Family
Built in 1987
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
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Listed by: Kelly Stotlar • The Real Estate Group, Inc.
Mls Name: RMLS Alliance
Mls ID: #CA1038696