$91,437 EMV

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N 6th St
Springfield, IL 62702

Overview

This Preforeclosure is located at N 6th St, Springfield, IL 62702. This property is currently in pre-foreclosure with an estimated market value of $91,437.
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Status: Active
Listing ID: 63384834
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Learn about N 6th St in Springfield, IL

This property is available as a preforeclosure at N 6th St. Our team of real estate experts has conducted a thorough analysis of the current market conditions in Springfield, specifically for N 6th St and comparable listings. Based on this expert analysis, the estimated market value is $91,437. If purchased for rental purposes, the monthly rental rate could range between $800 and $1,080, providing a solid return on investment. 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 6th St are updated daily along with others in Springfield, Illinois, ensuring you have the most current and accurate information. Since this property is a preforeclosure, be sure to check out our Foreclosure Timeline for N 6th St below to see detailed and helpful information about what stage of the foreclosure process this listing is in.


Buy this home for as little as

Plus with taxes and insurance

Based on 20% down, 30 year mortgage, with 6% APR

Principal
Interest
Property Taxes
Homeowners Insurance
Total Monthly Ownership Cost

All calculations are estimates provided for informational purposes. Actual amounts may vary by location. It is important to know that mortgage rates are dependent on credit scores, loan timeline, and a down payment amount.

Foreclosure Timeline

N 6th St in Springfield Illinois Property History

Not in Foreclosure

Pre-Foreclosure

Auction

Bank Owned

Find out more about this property on N 6th St
View Preforeclosure Status
04/03/25
Lis Pendens issued
The owner of this property was served a notice of lis pendens for missed mortgage payments.

What is the city of Springfield, IL like?

Springfield, Illinois, is the state capital and a city rich in history and culture. Known for its connection to President Abraham Lincoln, it offers a variety of attractions, including museums, parks, and historic sites that celebrate this heritage. Residents enjoy a unique lifestyle characterized by friendly neighborhoods, local dining options, and community events throughout the year.

The city is home to several well-maintained public parks and recreational areas, providing plenty of opportunities for outdoor activities such as hiking, biking, and picnic gatherings. With a balance of urban amenities and suburban charm, Springfield attracts families, young professionals, and retirees alike, making it an ideal locale for diverse residents.

Springfield also boasts a vibrant arts scene, featuring theater productions, concerts, and festivals that engage the community and promote local talent. The city emphasizes education and offers a robust selection of schools and colleges, contributing to its appeal for families focused on educational opportunities.

Nearby Schools

There are 4 schools in the area. Nearby schools include Springfield High School and Lanphier High School.

Springfield High School
Lanphier High School
Iles Elementary School
Franklin Middle School

Nearby Attractions

There are plenty of activities near this property like Springfield Art Museum, Illinois State Museum, and more.

Springfield Art Museum
Illinois State Museum
Lincoln Presidential Library
HSHS St. John's Hospital

What kind of public transportation is there?


Public transportation options include: City of Springfield Public Transit - bus system serving the city and surrounding areas., Greyhound Bus Services providing intercity travel options.. Other services include ride-sharing services like Uber and Lyft.

Nearby Parks


Parks nearby include Washington Park, Lincoln Memorial Gardens and more.

Washington Park
Lincoln Memorial Gardens
Fairview Park
Southwind Park

Cellular & Internet Providers


Services available in the area include cellular and internet options.

Cellular Providers

Verizon
AT&T
T-Mobile
Sprint

Internet Providers

Comcast Xfinity
Frontier Communications
Mediacom
Rental Chart
View Rental and Market Value
for N 6th St in Springfield Illinois
View Market Value

Property Information

Preforeclosure

The property located at N 6th St in Springfield, IL is listed as a Preforeclosure

This listing located at N 6th St in Springfield, IL could be available as a Rent-to-Own listing as well, additional diligence will be required from the buyer to determine if this listing can be approved as a RTO.

Please take note that this property in Springfield, Illinois is not listed as a Rent-to-Own (RTO) opportunity. It is currently in an initial default stage in Springfield, IL, commonly referred to as Pre-Foreclosure, indicating that the homeowner has missed at least one payment and is considered delinquent. However, instead of going through a potentially lengthy foreclosure process, which could take up to 18 months, the homeowner may be open to considering a Rent-to-Own option that covers their mortgage.

Since Pre-Foreclosure properties are not formally listed for sale, there is no asking price available. Instead, you’ll find either the original loan balance or an Estimated Market Value (EMV) provided. To make a reasonable offer for this home, it’s advisable to use either the loan balance or EMV amount in conjunction with local sale price comparables to determine an appropriate offer. Alternatively, the homeowner might be willing to work with you on a monthly amount that can help them avoid the foreclosure process.

You may also want to check with a real estate attorney or other legal authority to discuss the potential risks of executing a Rent-to-Own agreement with the current Pre-foreclosure owner. If the current owner in Springfield, Illinois doesn't make their mortgage payments, they could lose the property which would directly affect you and your Rent-to-Own agreement.

For this reason, many buyers find a real estate investor or investment company to buy a Pre-Foreclosure property from the current owner. The investor/investment company could then offer you a Rent-to-Own agreement on that property that you worked out with them in advance, which could stabilize the investment and prevent complications.

This is an important legal concept to understand before moving forward

First Steps to Buying a Preforeclosure

Preforeclosure status means the owner of the property has defaulted on his mortgage obligation and the lender is taking steps to foreclose on the loan and take possession of the property. This situation places the property owner and the lender in a disadvantaged position. But it may not be too late for the property owner to work things out with his lender.  At the same time the lender may be interested in allowing a short sale (sale of the property for less than the amount owed) just to avoid the costly process of foreclosure on the loan, and then the expense of marketing the property. That leaves open the opportunity for a real estate investor to come in and solve the problem for both parties.

Read more...

Legal Information

Credit Information Center

County Information

Document Center

Rental Value

The estimated rental value for N 6th St located in Springfield, IL is $940/month. Comparable homes around N 6th St that are rentals have monthly ranges starting as low as $800 per month and as high as $1,080 per month. An owner looking to use this property as an investment could bring a return in the area of $800 - $1,080 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.

Listing History

Start Date End Date Listing Type Bank Name
04/03/25   Preforeclosure SAILFISH SERVICING LLC

Similar Homes Nearby Springfield, IL


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N 6th St
Springfield, IL 62702

$91,437 EMV

Status: Active Listing ID: 63384834

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Property Description

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Listing URL

https://www.foreclosure.com/listing/address.html?address=N-6th-St-Springfield-IL-62702/63384834_lid

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