545 E Grove Rd · Decatur, IL 62521

$119,000

3 bd · 2.0 ba · 1,224 sqft · Other public records · 226 Days on market

Built 1900 0.87 ac lot $97/sqft · 10% above area Est $138k · 14% 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 +25.5/30.0
• ARV discount +13.7/15.0
• DSCR +8.5/10.0
• 1% rule +8.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wooded, country like setting, close in but feels like country. Oversized main floor master with separate shower and jetted tub, walk in closet. Country sized eat in kitchen with sliders to huge rear deck. Front porch wraps around side. sit on the cooler side in summer ! Parking up front, and in rear. Oversized 32 x 26 detached garage with a heater, and a large garden shed. Needs some TLC and some finishing touches to make it your own. Room sizes estimated until confirmed. Main floor laundry with half bath, and main floor master, or master could be family room. Meridian Schools which may qualify students for RCC tuition, per their rules.

Key facts

• Huge rear deck
• Large garden shed
• 0.87 acre lot

Tags

• OVERSIZED MAIN FLOOR MASTER
• COUNTRY SIZED EAT IN KITCHEN
• HUGE REAR DECK
• FRONT PORCH WRAPS AROUND SIDE
• OVERSIZED DETACHED GARAGE
• LARGE GARDEN SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $119k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Meridian CUSD 15 (rural): math 21% / reading 25% proficiency, ranked #353 of 620 in IL (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 226 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; list at $119k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 12% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.33% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.04%
• DSCR: 1.45
• GRM: 6.3

CMA / ARV

• ARV (median comp): $138,056
• List price: $119,000
• Delta: -13.80%
• 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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,404
• Equity at exit: $17,743

10-year hold

• IRR: 8.7%
• Equity multiple: 1.66×
• Total profit: $22,123
• Equity at exit: $10,289

Cash invested: $33,320 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,585 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$299 /mo · $3,594/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $279

Break-even live

Break-even rent $1,232

Max offer price $119,000

Occupancy floor 77%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2150 S Imboden Pl Decatur, IL	2.0	2.0	1334	$2,775	$2.08	43d	1	0.85mi

Listing history 20 events

1. 2026-06-19
   statusdays on market $119,000 Pending 226 DOM
2. 2026-06-18
   days on market $119,000 Active Under Contract 225 DOM
3. 2026-06-17
   days on market $119,000 Active Under Contract 224 DOM
4. 2026-06-16
   days on market $119,000 Active Under Contract 223 DOM
5. 2026-06-15
   days on market $119,000 Active Under Contract 222 DOM
6. 2026-06-14
   days on market $119,000 Active Under Contract 220 DOM
7. 2026-06-13
   days on market $119,000 Active Under Contract 219 DOM
8. 2026-06-10
   statusdays on market $119,000 Active Under Contract 217 DOM
9. 2026-06-09
   days on market $119,000 Active 216 DOM
10. 2026-06-08
    days on market $119,000 Active 215 DOM
11. 2026-06-07
    days on market $119,000 Active 214 DOM
12. 2026-06-03
    days on market $119,000 Active 210 DOM
13. 2026-06-02
    days on market $119,000 Active 209 DOM
14. 2026-06-01
    days on market $119,000 Active 208 DOM
15. 2026-05-31
    days on market $119,000 Active 207 DOM
16. 2026-05-30
    days on market $119,000 Active 206 DOM
17. 2026-05-15
    price $119,000 644-char remark

    Show marketing remark (644 chars)

    Wooded, country like setting, close in but feels like country. Oversized main floor master with separate shower and jetted tub, walk in closet. Country sized eat in kitchen with sliders to huge rear deck. Front porch wraps around side. sit on the cooler side in summer ! Parking up front, and in rear. Oversized 32 x 26 detached garage with a heater, and a large garden shed. Needs some TLC and some finishing touches to make it your own. Room sizes estimated until confirmed. Main floor laundry with half bath, and main floor master, or master could be family room. Meridian Schools which may qualify students for RCC tuition, per their rules.

18. 2026-04-23
    price $127,000 644-char remark

    Show marketing remark (644 chars)

    Wooded, country like setting, close in but feels like country. Oversized main floor master with separate shower and jetted tub, walk in closet. Country sized eat in kitchen with sliders to huge rear deck. Front porch wraps around side. sit on the cooler side in summer ! Parking up front, and in rear. Oversized 32 x 26 detached garage with a heater, and a large garden shed. Needs some TLC and some finishing touches to make it your own. Room sizes estimated until confirmed. Main floor laundry with half bath, and main floor master, or master could be family room. Meridian Schools which may qualify students for RCC tuition, per their rules.

19. 2025-11-05
    listed $135,000 Active 644-char remark

    Show marketing remark (644 chars)

    Wooded, country like setting, close in but feels like country. Oversized main floor master with separate shower and jetted tub, walk in closet. Country sized eat in kitchen with sliders to huge rear deck. Front porch wraps around side. sit on the cooler side in summer ! Parking up front, and in rear. Oversized 32 x 26 detached garage with a heater, and a large garden shed. Needs some TLC and some finishing touches to make it your own. Room sizes estimated until confirmed. Main floor laundry with half bath, and main floor master, or master could be family room. Meridian Schools which may qualify students for RCC tuition, per their rules.

20. 2012-07-26
    soldstatus $58,000

ⓘ 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: $3,594 · $299/mo
• Projected year-2 tax: $3,594 · $299/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥105°F today · 18 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: $19,018
• − Mortgage interest: −$6,666
• − Property taxes: −$3,594
• − Insurance: −$595
• − Repairs & maintenance: −$1,521
• − Management: −$1,521
• − Depreciation: −$3,462
• Taxable income: $1,658
• Est. tax owed @ 24.0%: −$398
• After-tax cash flow: $2,949/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: Meridian CUSD 15
• NCES district ID: 1700123
• Math proficiency: 21% ▼ -6.00%
• Reading proficiency: 25% ▼ -8.00%
• Median HH income: $57,708
• Composite: 21.13/100
• National rank: #8434
• State rank: #353 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

+105.2% since first listed

4 events — show timeline

• 2026-05-15 Price Changed $119,000 CIBR
• 2026-04-23 Price Changed $127,000 CIBR
• 2025-11-05 Listed $135,000 CIBR
• 2012-07-26 Sold (Public Records) $58,000 Public Records

Property tax history

+2.7%/yr

Latest (2024): $3,594 · +2.5% YoY. Source: county tax records.