3617 N Grand Ave E #240SpringfieldIL62702
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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 #240, Springfield, IL, 62702 uses $42,730 cash to close to unlock $4,990/yr annual cash flow and $416/mo monthly cash flow. Total monthly income runs $1,310/mo, and a $631/mo payment keeps the spread at $416/mo. Purchase price stands at $128,900, and rental yield measures 12.2% with $1,310/mo rent. Return on cash invested shows 31.59% in year one, and 5% annual appreciation builds toward $35,613 over five years. Five-year ROI reaches 166.43% and total cumulative return in cash records $71,117. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,310/mo property income covering a $631/mo payment rather than investor’s personal income.
Manufactured
Built in 2022
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: #11147364