423 Webster St · Decatur, IL 62521

$23,500

4 bd · 2.0 ba · 3,000 sqft · Other · 81 Days on market

Built 1900 8,778 sqft lot $8/sqft · 79% below area ↓ 28% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Income potential. Two story home with layout suitable for multi-unit or dual living setup. With the right renovations, this property could offer strong rental returns. Sold as-is, bring your ideas and make it your next investment. All room dimensions and total square footage will be updated soon.

Key facts

• Dual living setup
• Investment property
• Multi-unit setup

Tags

• TWO STORY HOME
• MULTI-UNIT SETUP
• DUAL LIVING SETUP
• STRONG RENTAL RETURNS
• INVESTMENT PROPERTY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $24k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $24k).
• Recommended offer: $22k (6.0% below list) — sets the bar for market timing.
• Cap rate 81.4% 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: 193 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $162 of loan paydown is wiped out by about $705 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,090 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 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 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 8.71% ✓
• Cap rate: 81.40%
• Cash-on-cash: 268.23%
• DSCR: 12.93
• GRM: 1.0

CMA / ARV

• ARV (median comp): $109,319
• List price: $23,500
• Delta: -78.50%
• 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: —
• Equity multiple: 14.66×
• Total profit: $89,889
• Equity at exit: $3,504

10-year hold

• IRR: —
• Equity multiple: 31.24×
• Total profit: $198,980
• Equity at exit: $2,032

Cash invested: $6,580 (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 62521

• Home prices YoY: -9.0%
• Active inventory: 193
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $2,046 medium
• Mortgage (P&I): −$123
• Tax from tax record: −$13 /mo · $150/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $1,471

Break-even live

Break-even rent $184

Max offer price $23,500

Occupancy floor 23%

Sensitivity live

Price	-10% $1,484	-5% $1,477	+0% $1,471	+5% $1,464	+10% $1,458
Rent	-10% $1,309	-5% $1,390	+0% $1,471	+5% $1,552	+10% $1,632
Rate	-1.0pp $1,483	-0.5pp $1,477	base $1,471	+0.5pp $1,465	+1.0pp $1,459

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: $5,875
• Closing costs: $705
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Eastmoreland Pl Decatur, IL	5.0	3.0	3300	$4,000	$1.21	14d	1	1.25mi

Listing history 19 events

1. 2026-06-19
   days on market $23,500 Active 81 DOM
2. 2026-06-18
   days on market $23,500 Active 80 DOM
3. 2026-06-17
   days on market $23,500 Active 79 DOM
4. 2026-06-16
   days on market $23,500 Active 78 DOM
5. 2026-06-15
   days on market $23,500 Active 77 DOM
6. 2026-06-14
   days on market $23,500 Active 75 DOM
7. 2026-06-13
   days on market $23,500 Active 74 DOM
8. 2026-06-10
   days on market $23,500 Active 72 DOM
9. 2026-06-09
   days on market $23,500 Active 71 DOM
10. 2026-06-08
    days on market $23,500 Active 70 DOM
11. 2026-06-07
    pricedays on market $23,500 Active 69 DOM
12. 2026-06-05
    days on market $28,500 Active 66 DOM
13. 2026-06-02
    days on market $28,500 Active 64 DOM
14. 2026-06-01
    days on market $28,500 Active 63 DOM
15. 2026-05-31
    days on market $28,500 Active 62 DOM
16. 2026-05-30
    days on market $28,500 Active 61 DOM
17. 2026-05-07
    price $28,500 297-char remark

    Show marketing remark (297 chars)

    Income potential. Two story home with layout suitable for multi-unit or dual living setup. With the right renovations, this property could offer strong rental returns. Sold as-is, bring your ideas and make it your next investment. All room dimensions and total square footage will be updated soon.

18. 2026-04-21
    price $34,500 297-char remark

    Show marketing remark (297 chars)

    Income potential. Two story home with layout suitable for multi-unit or dual living setup. With the right renovations, this property could offer strong rental returns. Sold as-is, bring your ideas and make it your next investment. All room dimensions and total square footage will be updated soon.

19. 2026-03-30
    listed $39,500 Active 297-char remark

    Show marketing remark (297 chars)

    Income potential. Two story home with layout suitable for multi-unit or dual living setup. With the right renovations, this property could offer strong rental returns. Sold as-is, bring your ideas and make it your next investment. All room dimensions and total square footage will be updated soon.

ⓘ 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: $150 · $13/mo
• Projected year-2 tax: $342 · $28/mo
• Expected delta: +$192/yr (+$16/mo · 127.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $24,552
• − Mortgage interest: −$1,316
• − Property taxes: −$150
• − Insurance: −$118
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − Depreciation: −$684
• Taxable income: $18,356
• Est. tax owed @ 24.0%: −$4,405
• After-tax cash flow: $13,244/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): 32,665
• Household income: $66,337
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 640.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Black 17% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 0%

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: ▼ -17.96%
• Current HPI: 180.9274
• 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

-27.8% since first listed

3 events — show timeline

• 2026-05-07 Price Changed $28,500 CIBR
• 2026-04-21 Price Changed $34,500 CIBR
• 2026-03-30 Listed $39,500 CIBR

Property tax history

+1.5%/yr

Latest (2024): $150 · -2.7% YoY. Source: county tax records.