613 E Black AveSpringfieldIL62702
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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 613 E Black Ave, Springfield, IL, 62702 priced at $223,900 converts $2,022/mo rent into $469/mo cash flow after a $1,096/mo obligation. Total monthly income equals $2,022/mo, and annual cash flow totals $5,626/yr on $74,223 invested. Return on cash invested prints 27.49% in year one, and rental yield reads 10.84% against a $223,900 entry. Equity gained on principal adds $1,445/yr, while 5% annual appreciation compiles into $61,859 by year five. Five-year ROI reaches 144.47% and total cumulative return in cash sums $107,232. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,022/mo property income covering a $1,096/mo payment, not borrower’s personal income.
Single Family
Built in N/A
0.27 Acres 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: Jim Fulgenzi • RE/MAX Professionals
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #CA1036087
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.