835 W Elm St · Decatur, IL 62522

$28,000

2 bd · 1.0 ba · 1,021 sqft · Other public records · 79 Days on market

Built 1921 5,040 sqft lot $27/sqft · 25% below area Est $37k · 25% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Near West - What home with some old style charm? This is it, built in china cabinet and dining booth, hardwood floors. Very nice 2 car detached garage and completely fenced yard plus full basement will give you extra storage space. Wonderful enclosed front porch gives you more SF for enjoying summer evenings or just porch visiting with your friends or neighbors. This home needs a little attention to cleaning and paint, but it could be a charming house to call home. Save your paycheck and get out of paying rent. If you are a landlord this is a good one to add to your inventory. Selling AS IS.

Key facts

• 5,040 sq ft lot
• 2 garage spots
• Built 1921

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $28k.

Deal economics

• At list price, monthly cash flow is $602 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $26k (6.0% below list) — sets the bar for market timing.
• Cap rate 32.1% vs local median 7.0% in Decatur — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 59/100 on livability (#1,076 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Decatur SD 61 (urban): math 3% / reading 6% proficiency, ranked #605 of 620 in IL (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 75 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 85% of comp listings sitting > 30 days — soft ceiling on asking rent; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $194 of loan paydown is wiped out by about $840 of value loss. Plan a longer hold.
• Macon County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask is 12% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $14k; list at $28k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $26,320 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 3.63% ✓
• Cap rate: 32.11%
• Cash-on-cash: 92.21%
• DSCR: 5.10
• GRM: 2.3

CMA / ARV

• ARV (median comp): $37,214
• List price: $28,000
• Delta: -24.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 93.0%
• Equity multiple: 5.32×
• Total profit: $33,850
• Equity at exit: $4,175

10-year hold

• IRR: 95.8%
• Equity multiple: 11.07×
• Total profit: $78,962
• Equity at exit: $2,421

Cash invested: $7,840 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62522

• Home prices YoY: -16.9%
• Active inventory: 75
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,017 high
• Mortgage (P&I): −$147
• Tax from tax record: −$43 /mo · $510/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $602

Break-even live

Break-even rent $254

Max offer price $28,000

Occupancy floor 36%

Sensitivity live

Price	-10% $618	-5% $610	+0% $602	+5% $594	+10% $587
Rent	-10% $522	-5% $562	+0% $602	+5% $643	+10% $683
Rate	-1.0pp $617	-0.5pp $610	base $602	+0.5pp $595	+1.0pp $588

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $7,000
• Closing costs: $840
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	44d	1	0.16mi
1311 N Walnut Grove Ave Decatur, IL	2.0	1.0	781	$1,100	$1.41	44d	1	0.27mi
853 N College St Decatur, IL	2.0	1.0	936	$925	$0.99	44d	1	0.31mi
1245 N Union St Decatur, IL	3.0	2.0	1111	$995	$0.90	44d	1	0.43mi
644 W Division St Decatur, IL	3.0	2.0	1365	$1,200	$0.88	44d	1	0.49mi
1345 N Fairview Ave Decatur, IL	3.0	1.0	785	$985	$1.25	44d	1	0.62mi
1908 N Union St Decatur, IL	2.0	1.0	704	$899	$1.28	44d	1	0.77mi
2148 N Graceland Ave Decatur, IL	2.0	1.0	864	$1,195	$1.38	44d	1	0.86mi
150 W Wood St Decatur, IL	1.0	1.0	1228	$1,100	$0.90	44d	1	0.97mi
1090 N Oakcrest Ave Decatur, IL	2.0	1.0	1344	$1,100	$0.82	44d	1	1.11mi
520 S Church St Decatur, IL	3.0	1.5	1250	$1,199	$0.96	14d	1	1.17mi
510 E Pierson Ave Decatur, IL	3.0	1.0	895	$1,200	$1.34	44d	1	1.33mi
927 E Harrison Ave Decatur, IL	2.0	1.0	720	$675	$0.94	21d	1	1.43mi

Listing history 24 events

1. 2026-06-19
   days on market $28,000 Active 79 DOM
2. 2026-06-18
   days on market $28,000 Active 78 DOM
3. 2026-06-17
   days on market $28,000 Active 77 DOM
4. 2026-06-16
   days on market $28,000 Active 76 DOM
5. 2026-06-15
   days on market $28,000 Active 75 DOM
6. 2026-06-14
   days on market $28,000 Active 73 DOM
7. 2026-06-13
   days on market $28,000 Active 72 DOM
8. 2026-06-10
   days on market $28,000 Active 70 DOM
9. 2026-06-09
   days on market $28,000 Active 69 DOM
10. 2026-06-08
    days on market $28,000 Active 68 DOM
11. 2026-06-07
    days on market $28,000 Active 67 DOM
12. 2026-06-05
    days on market $28,000 Active 64 DOM
13. 2026-06-02
    days on market $28,000 Active 62 DOM
14. 2026-06-01
    days on market $28,000 Active 61 DOM
15. 2026-05-31
    days on market $28,000 Active 60 DOM
16. 2026-05-30
    days on market $28,000 Active 59 DOM
17. 2026-04-10
    price $28,000
18. 2026-04-04
    status Active
19. 2026-04-01
    historical Contingent - No Showings
20. 2026-03-31
    listed $25,000 Active
21. 2021-07-29
    soldstatus $14,500 605-char remark

    Show marketing remark (605 chars)

    Near West - What home with some old style charm? This is it, built in china cabinet and dining booth, hardwood floors. Very nice 2 car detached garage and completely fenced yard plus full basement will give you extra storage space. Wonderful enclosed front porch gives you more SF for enjoying summer evenings or just porch visiting with your friends or neighbors. This home needs a little attention to cleaning and paint, but it could be a charming house to call home. Save your paycheck and get out of paying rent. If you are a landlord this is a good one to add to your inventory. Selling AS IS.

22. 2021-07-29
    soldstatus $14,500

    Show marketing remark (605 chars)

    Near West - What home with some old style charm? This is it, built in china cabinet and dining booth, hardwood floors. Very nice 2 car detached garage and completely fenced yard plus full basement will give you extra storage space. Wonderful enclosed front porch gives you more SF for enjoying summer evenings or just porch visiting with your friends or neighbors. This home needs a little attention to cleaning and paint, but it could be a charming house to call home. Save your paycheck and get out of paying rent. If you are a landlord this is a good one to add to your inventory. Selling AS IS.

23. 2021-07-09
    listed $14,500 605-char remark

    Show marketing remark (605 chars)

    Near West - What home with some old style charm? This is it, built in china cabinet and dining booth, hardwood floors. Very nice 2 car detached garage and completely fenced yard plus full basement will give you extra storage space. Wonderful enclosed front porch gives you more SF for enjoying summer evenings or just porch visiting with your friends or neighbors. This home needs a little attention to cleaning and paint, but it could be a charming house to call home. Save your paycheck and get out of paying rent. If you are a landlord this is a good one to add to your inventory. Selling AS IS.

24. 2021-07-09
    listed $14,500

    Show marketing remark (605 chars)

    Near West - What home with some old style charm? This is it, built in china cabinet and dining booth, hardwood floors. Very nice 2 car detached garage and completely fenced yard plus full basement will give you extra storage space. Wonderful enclosed front porch gives you more SF for enjoying summer evenings or just porch visiting with your friends or neighbors. This home needs a little attention to cleaning and paint, but it could be a charming house to call home. Save your paycheck and get out of paying rent. If you are a landlord this is a good one to add to your inventory. Selling AS IS.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $510 · $43/mo
• Projected year-2 tax: $573 · $48/mo
• Expected delta: +$63/yr (+$5/mo · 12.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,204
• − Mortgage interest: −$1,568
• − Property taxes: −$510
• − Insurance: −$140
• − Repairs & maintenance: −$976
• − Management: −$976
• − Depreciation: −$815
• Taxable income: $7,218
• Est. tax owed @ 24.0%: −$1,732
• After-tax cash flow: $5,497/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Decatur SD 61
• NCES district ID: 1711850
• Math proficiency: 3% ▼ -4.00%
• Reading proficiency: 6% ▼ -6.00%
• Median HH income: $38,864
• Composite: 3.99/100
• National rank: #10059
• State rank: #605 of 620 in IL

Livability — Decatur

• Score: 59/100
• State rank: #1076
• US rank: #20533

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety F User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, IL
• County: Macon County · 78,333 people
• City population: 78,333
• Metro: Decatur, IL
• Population (ZIP): 15,185
• Household income: $50,669
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 321.0

Population outlook (Macon County) Hauer SSP2

• Today (2025): 99,568 people
• By 2030: 94,973 · -4.6%
• By 2040: 85,250 · -14.4%
• By 2050: 75,920 · -23.8%
• By 2075: 55,962 · -43.8%
• By 2100: 36,468 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Two or more races 7% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 1% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada, China, Jamaica
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Macon

• 2024 margin: R (+18.9) · D 39.8% · R 58.7% · Other 1.4%
• 2008→2024 swing: -20.0pp toward R · 2008: 1.1pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+17.7 2016: R+18.1 2012: R+5.2 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.64%
• Current HPI: 180.7847
• Rent YoY: —
• Metro: Decatur, IL
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+93.1% since first listed

8 events — show timeline

• 2026-04-10 Price Changed $28,000 MRED as Distributed by MLS Grid
• 2026-04-04 Relisted — MRED as Distributed by MLS Grid
• 2026-04-01 Contingent — MRED as Distributed by MLS Grid
• 2026-03-31 Listed $25,000 MRED as Distributed by MLS Grid
• 2021-07-29 Sold (MLS) $14,500 CIBR
• 2021-07-29 Sold (MLS) $14,500 MRED as Distributed by MLS Grid
• 2021-07-09 Listed $14,500 CIBR
• 2021-07-09 Listed $14,500 MRED as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2024): $510 · +0.8% YoY. Source: county tax records.