233 N Edward St · Decatur, IL 62522

$25,000

5 bd · 2.0 ba · 1,583 sqft · Other public records · 115 Days on market

Built 1904 7,520 sqft lot

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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

This 5 bedroom, 2 bath home sitting just blocks from Millikin University was previously a two unit building and could easily be converted back for fantastic potential income! Inside you'll find plenty of classic character and original details including arched doorways, hardwood flooring and built-in shelving. Outside, the covered front porch offers great space to relax or find extra storage space in the three car detached garage. Sold as is.

Key facts

• 7,520 sq ft lot
• 3 garage spots
• Built 1904

Property features AI

Finance

• Other: Ownership: Fee simple
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage owned (3 garage spaces; 3 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout (living area spans main and upper listed as same square footage)
• Construction: Vinyl siding; Property over 100 years old; Built before 1978
• Exterior features: Lot dimensions approximately 160 x 47; Lot smaller than 0.25 acre; Directions: From E Dorado, south on Edward, home will be on the right

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 5 bedrooms (Master on main; other bedrooms on main and second level)
• Flooring: Hardwood flooring in some bedrooms; Carpet in master bedroom, living room, dining room, and one bedroom; Vinyl flooring in kitchen and one bedroom
• Bathrooms: 2 full bathrooms
• Interior features: 8 total rooms; Full, unfinished basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath other listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.
• Cap rate 56.3% 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; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($51k/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 $173 of loan paydown is wiped out by about $750 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 115 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $10k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — 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: 6.15% ✓
• Cap rate: 56.28%
• Cash-on-cash: 178.54%
• DSCR: 8.94
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.90×
• Total profit: $62,303
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 20.97×
• Total profit: $139,759
• Equity at exit: $2,162

Cash invested: $7,000 (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: 1.4×

Monthly cashflow live

• Estimated rent: $1,537 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $1,041

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 27%

Sensitivity live

Price	-10% $1,059	-5% $1,050	+0% $1,041	+5% $1,033	+10% $1,024
Rent	-10% $920	-5% $981	+0% $1,041	+5% $1,102	+10% $1,163
Rate	-1.0pp $1,054	-0.5pp $1,048	base $1,041	+0.5pp $1,035	+1.0pp $1,028

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-21
   price $25,000 445-char remark

   Show marketing remark (445 chars)

   This 5 bedroom, 2 bath home sitting just blocks from Millikin University was previously a two unit building and could easily be converted back for fantastic potential income! Inside you'll find plenty of classic character and original details including arched doorways, hardwood flooring and built-in shelving. Outside, the covered front porch offers great space to relax or find extra storage space in the three car detached garage. Sold as is.

2. 2026-05-20
   status Active 445-char remark

   Show marketing remark (445 chars)

   This 5 bedroom, 2 bath home sitting just blocks from Millikin University was previously a two unit building and could easily be converted back for fantastic potential income! Inside you'll find plenty of classic character and original details including arched doorways, hardwood flooring and built-in shelving. Outside, the covered front porch offers great space to relax or find extra storage space in the three car detached garage. Sold as is.

3. 2026-05-20
   price $25,000

   Show marketing remark (445 chars)

   This 5 bedroom, 2 bath home sitting just blocks from Millikin University was previously a two unit building and could easily be converted back for fantastic potential income! Inside you'll find plenty of classic character and original details including arched doorways, hardwood flooring and built-in shelving. Outside, the covered front porch offers great space to relax or find extra storage space in the three car detached garage. Sold as is.

4. 2026-05-20
   status Active

   Show marketing remark (445 chars)

   This 5 bedroom, 2 bath home sitting just blocks from Millikin University was previously a two unit building and could easily be converted back for fantastic potential income! Inside you'll find plenty of classic character and original details including arched doorways, hardwood flooring and built-in shelving. Outside, the covered front porch offers great space to relax or find extra storage space in the three car detached garage. Sold as is.

5. 2025-12-30
   status Pending 445-char remark

   Show marketing remark (445 chars)

   This 5 bedroom, 2 bath home sitting just blocks from Millikin University was previously a two unit building and could easily be converted back for fantastic potential income! Inside you'll find plenty of classic character and original details including arched doorways, hardwood flooring and built-in shelving. Outside, the covered front porch offers great space to relax or find extra storage space in the three car detached garage. Sold as is.

6. 2025-12-30
   status Pending

   Show marketing remark (445 chars)

   This 5 bedroom, 2 bath home sitting just blocks from Millikin University was previously a two unit building and could easily be converted back for fantastic potential income! Inside you'll find plenty of classic character and original details including arched doorways, hardwood flooring and built-in shelving. Outside, the covered front porch offers great space to relax or find extra storage space in the three car detached garage. Sold as is.

7. 2025-12-02
   price $35,000
8. 2025-12-01
   listed $35,000 Active 445-char remark

   Show marketing remark (445 chars)

   This 5 bedroom, 2 bath home sitting just blocks from Millikin University was previously a two unit building and could easily be converted back for fantastic potential income! Inside you'll find plenty of classic character and original details including arched doorways, hardwood flooring and built-in shelving. Outside, the covered front porch offers great space to relax or find extra storage space in the three car detached garage. Sold as is.

9. 2025-10-20
   price $49,900
10. 2025-09-08
    listed $55,000 Active
11. 2022-05-09
    soldstatus $55,000
12. 2022-05-06
    soldstatus $55,000 375-char remark

    Show marketing remark (375 chars)

    Wow - Great opportunity to transform this house into a massive single-family home, or utilize it as a duplex for income purposes. As a single-family house, it would offer 5 bedrooms, 2 full bathrooms, large living room that has been recently re-drywalled. As a duplex, it would offer 2 bedroom, 1 bathroom units each with a kitchen and living room. Make this one yours today!

13. 2022-05-06
    soldstatus $55,000

    Show marketing remark (375 chars)

    Wow - Great opportunity to transform this house into a massive single-family home, or utilize it as a duplex for income purposes. As a single-family house, it would offer 5 bedrooms, 2 full bathrooms, large living room that has been recently re-drywalled. As a duplex, it would offer 2 bedroom, 1 bathroom units each with a kitchen and living room. Make this one yours today!

14. 2022-03-14
    listed $55,000 375-char remark

    Show marketing remark (375 chars)

    Wow - Great opportunity to transform this house into a massive single-family home, or utilize it as a duplex for income purposes. As a single-family house, it would offer 5 bedrooms, 2 full bathrooms, large living room that has been recently re-drywalled. As a duplex, it would offer 2 bedroom, 1 bathroom units each with a kitchen and living room. Make this one yours today!

15. 2022-03-14
    listed $55,000

    Show marketing remark (375 chars)

    Wow - Great opportunity to transform this house into a massive single-family home, or utilize it as a duplex for income purposes. As a single-family house, it would offer 5 bedrooms, 2 full bathrooms, large living room that has been recently re-drywalled. As a duplex, it would offer 2 bedroom, 1 bathroom units each with a kitchen and living room. Make this one yours today!

16. 2021-02-19
    soldstatus $22,000

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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: $18,444
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,476
• − Management: −$1,476
• − Depreciation: −$727
• Taxable income: $12,865
• Est. tax owed @ 24.0%: −$3,088
• After-tax cash flow: $9,410/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

+13.6% since first listed

16 events — show timeline

• 2026-05-21 Price Changed $25,000 CIBR
• 2026-05-20 Relisted — CIBR
• 2026-05-20 Price Changed $25,000 MRED as Distributed by MLS Grid
• 2026-05-20 Relisted — MRED as Distributed by MLS Grid
• 2025-12-30 Pending — CIBR
• 2025-12-30 Pending — MRED as Distributed by MLS Grid
• 2025-12-02 Price Changed $35,000 MRED as Distributed by MLS Grid
• 2025-12-01 Listed $35,000 CIBR
• 2025-10-20 Price Changed $49,900 MRED as Distributed by MLS Grid
• 2025-09-08 Listed $55,000 MRED as Distributed by MLS Grid
• 2022-05-09 Sold (Public Records) $55,000 Public Records
• 2022-05-06 Sold (MLS) $55,000 MRED as Distributed by MLS Grid
• 2022-05-06 Sold (MLS) $55,000 CIBR
• 2022-03-14 Listed $55,000 MRED as Distributed by MLS Grid
• 2022-03-14 Listed $55,000 CIBR
• 2021-02-19 Sold (Public Records) $22,000 Public Records

Property tax history

+17.7%/yr

Latest (2024): $1,987 · +1.9% YoY. Source: county tax records.