3324 S 2ND Street, Springfield, IL 62703
- Added:
- Aug 11, 2025
- Days on Market:
- 304
- Last Refresh:
- Jun 10 at 7:06 am
Property Features for 3324 S 2ND Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
- Parking
- 5
- Fencing
- Fenced
- Basement
- Crawl Space, Unfinished, Partial
- Standard status
- Pending
- APN
- 22-16.0-229-005
- Size
- 840 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- GOLDEN GARDEN ADDN L 13 B 10 GOLDEN GARDEN ADDN S1/2 L 14 B 10
- Tax Annual Amount
- 2383
Utilities
- Heating system
- Electric (Heating), Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 2
- Building materials
- Vinyl Siding
- Roof type
- Shingle
Listing agent Greg Zessin License #471021583 (217) 414-0373
Listing office Springfield Real Estate, LLC 410 S. Grand Ave., West, Springfield, IL (217) 525-2288
Listing date Aug 11, 2025
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Two houses on one property, ideal for investors or multi‑generational living
- Income‑producing property with a long‑term tenant in place
- Remodeled 840 SF house with modern updates and central air
- Desirable Southernview location in Springfield, IL
- Includes a 2‑car garage and fenced yard
- Separate parcels provide flexibility and potential
Overview
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $11.6k | $13.80 |
| − Vacancy | −$408 | −$0.49 |
| EGI | $11.2k | $13.31 |
| − OpEx | −$3.4k | −$3.99 |
| NOI | $7.8k | $9.32 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.653593
- Latitude
- 39.754768
