718 S 7th St APT 1000SpringfieldIL62703
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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 718 S 7th St APT 1000, Springfield, IL, 62703 uses $46,377 cash to close to unlock $1,156/yr annual cash flow and $96/mo monthly cash flow. Total monthly income runs $1,067/mo, and a $685/mo payment keeps the spread at $96/mo. Purchase price stands at $139,900, and rental yield measures 9.15% with $1,067/mo rent. Return on cash invested shows 22.4% in year one, and 5% annual appreciation builds toward $38,652 over five years. Five-year ROI reaches 117.25% and total cumulative return in cash records $54,375. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,067/mo property income covering a $685/mo payment rather than investor’s personal income.
Condo
Built in 1957
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62703, Springfield, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,796 (100%) |
| Owner Occupied HU | 6,719 (48.7%) |
| Renter Occupied HU | 5,111 (37.0%) |
| Vacant Housing Units | 1,966 (14.3%) |
| Median Home Value | $106,497 |
| Average Home Value | $153,646 |
Housing Distribution
Address Breakdown
Residential
12,927
Single Family
11,565
Multi-Family
1,362
Businesses
1,237
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Listed by: Jeff Lochbaum • The Real Estate Group, Inc.
Mls Name: RMLS Alliance
Mls ID: #CA1037178