835 S Park AveSpringfieldIL62704
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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 835 S Park Ave, Springfield, IL, 62704 priced at $285,000 converts $1,643/mo rent into after a $1,395/mo obligation. Total monthly income equals $1,643/mo. Return on cash invested prints 15.67% in year one, and rental yield reads 6.92% against a $285,000 entry. Equity gained on principal adds $1,839/yr, while 5% annual appreciation compiles into $78,740 by year five. Five-year ROI reaches 81.13% and total cumulative return in cash sums $76,650. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,643/mo property income covering a $1,395/mo payment, not borrower’s personal income.
Single Family
Built in 1905
9,000 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: Pat A VanEtten • RE/MAX Professionals
Mls Name: RMLS Alliance
Mls ID: #CA1040263