506 S Walnut StSpringfieldIL62704
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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
Rental property for sale in Springfield at 506 S Walnut St, Springfield, IL, 62704 generates $2,808/mo in rent and, after a $893/mo payment, leaves $1,542/mo in cash flow. Total monthly income is $2,808/mo, and annual cash flow is $18,509/yr on $60,499 invested. Return on cash invested sits at 50.5% in year one, and rental yield is 18.46% on a $182,500 entry. Equity gained on principal adds $1,178/yr, while 5% annual appreciation builds toward $50,421 over five years. Five-year ROI reaches 267.91% and total cumulative return in cash sums $162,082. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,808/mo property income rather than buyer’s personal income.
Multi Family
Built in 1923
9,576 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: Kyle T Killebrew • The Real Estate Group, Inc.
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #CA1031314
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.