Under $500K Investment Properties for Sale in Springfield, IL
109- 4 Bed
- 3 Bath
- 3000 sft
183- 2 Bed
- 1 Bath
- 1421 sft
338- 3 Bed
- 1 Bath
- 950 sft
660- 3 Bed
- 2 Bath
- 1524 sft
Why Invest in Springfield, Illinois?
Springfield, IL offers strong investment potential in properties under $500k, with median home prices around $195k providing accessible entry points. Recent appreciation of 22.3% year-over-year supports solid returns, while average rents near $1,136 generate reliable cash flow. Cap rates remain attractive in this stable state capital market with growing renter occupancy. Low days on market indicate high demand for affordable single-family rentals and small multifamily units. Investors benefit from consistent employment driving rental demand without the volatility of larger metros.
Frequently Asked Questions
Investors see average ROI around 8.5% with rental yields of 6.2% on properties averaging $195k median price. Cash flow averages $450 monthly after expenses. Strong appreciation of 22.3% enhances long-term gains.
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