13 days on rocket

422 S Lincoln Ave, Springfield, IL, 62704

$435,000

Home List Price

$5,166*

Closing Credit

0 Baths
Multi
Schools Nearby

Location

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422 S Lincoln Ave, Springfield$435,000

Buyer Closing Credits

$5,166*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingOn Street
Year Built1920
HeatingNatural Gas, Gravity
BasementYes
MLS #CA1029287
StatusActive

About 422 S Lincoln Ave

An incredible opportunity awaits with this Beautiful Multifamily property! This 8-unit Boasts a 1 year, renewable master Lease that pays $6200 per month that eliminates concerns with vacancy! The entire building has been updated with modern amenities and features during 2023-2024. Each unit is 1 bed, 1 bath, and a full sized kitchen. Additionally, each unit is separately metered for electric. Feel free to walk the property, but please do not disturb tenants showings can be scheduled with Contingent offers. SQFT is approximate not guaranteed. Current Cap rate is 9.92% Master Lease = 1 master tenant pays $6,200 for all units. The master tenant then uses building as short term or long term use during their contract period as they see fit. so no worries about vacancy when you have a master lease.

Property Details

Property Features

Property Information:

  • Year Built: 1920

Listing Office:

  • Office Name: Keller Williams Capital
  • Office Phone: (217) 502-9339
  • Listing Agent: Jay Myers

Interior Features

Interior Information:

  • Basement: Yes

Exterior Features

Parking Information:

  • Parking: On Street

Lot Features

Lot Information:

  • Lot: Level

Utilities

Utilities Information:

  • Heating: Natural Gas, Gravity

School Info

Assigned Schools Information:

  • Springfield High School, Public District Grades 9-12
  • U S Grant Middle School, Public District Grades 6-8
  • Dubois Elementary School, Public District Grades KG-5

Other

Directions Information:

  • Directions: Traveling south on west Monroe turn left onto South Lincoln property located on left hand side.

Price Information

Listing Price Info

Price Summary:

  • List Price: $435,000

Tax Information:

  • Annual Amount: $3,596
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Springfield, IL.

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Springfield, IL

City

Med. Sold Price

$160K

Med. Price/SqFt

$100

Avg. Days On Market

16

# of Sold Homes

191

422 S Lincoln Ave vs Springfield

13 DAYS ON ROCKET

-3 Days

$435,000

+$274.9K More

KEY TAKEAWAY

This property is $274.9K more than the Median Sold Price in Springfield, IL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: RMLSA
  • MLS Number: #CA1029287

Listing Office:

  • Office Name: Keller Williams Capital
  • Office Phone: (217) 502-9339
  • Listing Agent: Jay Myers

IDX Listings courtesy of RMLS Alliance as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of RMLS Alliance®. Real estate listings held by brokerage firms other than this broker are marked with the RMLSA logo and detailed information about them includes the name of the listing brokers. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals. Copyright © 2024 Peoria Area Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/3/2024, 12:50:36 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Sep 13, 2021Home Sold
$30,000

Tax History

YEARPROP. TAXASSESSMENT
2020$3,596$40,821
2019$3,839$40,679
2018$3,839$45,441
2017$3,760$44,853

History based on county public records data.

Payment Calculator

$2,239

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,371

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-7881788
3
/10

  • Dubois Elementary School

  • 120 S Lincoln Ave

  • 0.16 miles

  • Public District Grades KG-5

Middle School

school-card-donut-7881789
2
/10

  • U S Grant Middle School

  • 1800 W Monroe St

  • 0.55 miles

  • Public District Grades 6-8

High School

school-card-donut-7881790
5
/10

  • Springfield High School

  • 101 S Lewis St

  • 0.65 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $36,250. Typical income of Springfield, IL residents is less than $35k annually. Residents typically live in single, no kids family. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Rocket Homes›Illinois›Sangamon County›Springfield›62704›422 S Lincoln Ave

This home is located at 422 S Lincoln Ave in Springfield, IL and zip code 62704 in the Historic Westside neighborhood. This home was built in 1920. It has been listed on Rocket Homes since May 21, 2024 and is currently priced at $435,000.

Over 87 listings were sold over their listed price in May 2024 in Springfield, IL. In the same period over 74 listings were sold below the listed price and 30 listings were sold for the listed price. The number of homes for sale in Springfield, IL decreased by 2% between April 2024 and May 2024. While the average time on the market in May 2024 was 16 days, the median list price was $160,082.

From Rocket Homes Real Estate and based on county public records data.

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