Any investors familiar with Springfield Illinois?

4 Replies

@John Manta I have a house in Grandview. Rents are high In the neighborhood and the cost to buy houses is reasonable. There seems to be a lot of rentals in the area, not sure how that will affect things In the future. The further you go north away from North Grand Ave, the better it seems. I’m not an expert on the area as I’ve only owned the one house there for a little over a year but message me if you need anything else.

John
I was born and raised here is Springfield. Grandview is a mixed bag meaning there are nice houses, but there are not so nice houses. It really depends of the House. I would consider Grandview a C neighborhood. I haven't heard of any major crimes in that area, but I am sure there is some crime. Grandview is a small village and it have its on Police force. Only one or two cops and they are strict.
I have two rentals in the Springfield area. I find with the exceptions of a few neighborhoods (Grandview isn't one of the exceptions) that the market will bring about 450.00 to 600.00 for a 1 bed 1 bath, 550 to 700 for a two bed one bath, 650 to 850 for a three bed One bath. And about 750.00 to 900.00 for three bed and two bath.
Looking at potential rentals in the Springfield area, I have found that a lot of Houses are subpar for my taste. a lot of time owner are asking about three times the value of the houses. With that said I like quality rentals that I can command higher rent and get better tenants. If you are looking for a rental you can through a little bit of money at and just get lower rate tenants, I would think about 50% of the houses out there would fit that bill.
Do you have reliable boots on the ground here? Meaning realtor, contractor or property management?

Brian

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