Potential Profit$67,838
This property is available as a foreclosure at N 3rd St. Our team of real estate experts has conducted a thorough analysis of the current market conditions in Springfield, specifically for N 3rd St and comparable listings. Based on this expert analysis, the estimated market value is $49,391. This has potential equity of $67,838. If purchased for rental purposes, the monthly rental rate could range between $750 and $1,010, providing a solid return on investment. For those interested in resale, the estimated profit from selling is $67,838. Factors considered in this calculation include the property location, condition, status, and convenience, all assessed by our experienced professionals. Properties like this one on N 3rd St are updated daily along with others in Springfield, Illinois, ensuring you have the most current and accurate information. Since this property is a foreclosure, be sure to check out our Foreclosure Timeline for N 3rd St below to see detailed and helpful information about what stage of the foreclosure process this listing is in.
Not in Foreclosure
Pre-Foreclosure
Auction
Bank Owned
This property in Springfield, IL is located in the Mrs Ca Fox Add Subdivision.
The property located at N 3rd St in Springfield, IL is listed as a Foreclosure
Properties like N 3rd St in Springfield, Illinois listed as foreclosures have passed the point of auction or public sale. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers through a local real estate agent or auction house in Springfield, IL. The longer lenders own properties like this on N 3rd St, the more eager they become to sell, often at reduced prices.Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale. In order to take advantage of foreclosed properties there are some basic steps to be followed:
Steps as you search for your foreclosure property:
Foreclosed properties can represent excellent opportunities to acquire real estate at bargain prices. But in order to take full advantage of these opportunities you must have all your information and take an organized approach to finding and acquiring foreclosed properties. Find the location and property that interests you, work with the Realtor and closing agent to learn all you can about the property, and make your offer based upon good information and research.
The estimated rental value for N 3rd St located in Springfield, IL is $881/month. Comparable homes around N 3rd St that are rentals have monthly ranges starting as low as $750 per month and as high as $1,010 per month. An owner looking to use this property as an investment could bring a return in the area of $750 - $1,010 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.
| Start Date | End Date | Listing Type | Bank Name |
|---|---|---|---|
| 02/29/24 | 03/03/24 | Foreclosure | |
| 08/27/20 | Foreclosure | ||
| 07/22/20 | 11/04/20 | Foreclosure | |
| 11/14/19 | 12/10/19 | Preforeclosure |
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