718 S State StSpringfieldIL62704
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 State St, Springfield, IL, 62704 uses $58,013 cash to close to unlock $22,460/yr annual cash flow and $1,872/mo monthly cash flow. Total monthly income runs $3,086/mo, and a $857/mo payment keeps the spread at $1,872/mo. Purchase price stands at $175,000, and rental yield measures 21.16% with $3,086/mo rent. Return on cash invested shows 58.63% in year one, and 5% annual appreciation builds toward $48,349 over five years. Five-year ROI reaches 311.47% and total cumulative return in cash records $180,691. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,086/mo property income covering a $857/mo payment rather than investor’s personal income.
Single Family
Built in 1890
7,134 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Mindy Pusch • The Real Estate Group, Inc.
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #CA1029809
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.