3617 N Grand Ave E #231SpringfieldIL62702
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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 3617 N Grand Ave E #231, Springfield, IL, 62702 uses $38,421 cash to close to unlock $13,684/yr annual cash flow and $1,140/mo monthly cash flow. Total monthly income runs $1,944/mo, and a $567/mo payment keeps the spread at $1,140/mo. Purchase price stands at $115,900, and rental yield measures 20.13% with $1,944/mo rent. Return on cash invested shows 55.53% in year one, and 5% annual appreciation builds toward $32,021 over five years. Five-year ROI reaches 294.88% and total cumulative return in cash records $113,296. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,944/mo property income covering a $567/mo payment rather than investor’s personal income.
Manufactured
Built in 2023
N/A 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: Lei Fox • Cottonwood Cove
Mls Name: My State MLS
Mls ID: #11114654