3554 N Dove Dr · Decatur, IL 62526

$149,900

3 bd · 1.5 ba · 1,040 sqft · SingleFamily public records · 11 Days on market

Built 1978 6,970 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 +12.1/30.0
• ARV discount +7.5/15.0
• Appreciation +3.9/10.0
• 1% rule +3.6/10.0
• DSCR +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0

Listing remarks

Welcome to this charming bi-level home in Decatur’s desirable Meadowlark neighborhood! Offering a functional layout with living space on multiple levels, this home provides plenty of room to spread out while maintaining a warm and inviting feel. The bright main level features a comfortable living room, dining area, and kitchen. The lower level offers additional living space perfect for a family room, home office, workout area, or entertaining guests. Updates:new kitchen appliances, fresh paint though-out the home and updated baths. Enjoy cozy evenings by the fireplace, and a fenced backyard ready for relaxing or outdoor gatherings. Situated close to shopping, dining, parks, and school

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1978

Tags

• NEW KITCHEN APPLIANCES
• UPDATED MAIN BATH ROOM
• LARGE FENCED BACK YARD
• WOOD BURNING FIREPLACE

Property features AI

Exterior

• Parking: Attached garage (2 spaces)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels / 2 stories
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Deck; Concrete road access

Interior

• Kitchen: Dishwasher; Oven; Refrigerator; Gas water heater
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Fireplace (1); Finished partial basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-32 ($-389/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (13.9% below list).
• Recommended offer: $129k (13.9% below list) — sets the bar for 1% rule.

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: crime F, amenities F, commute 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.
• Zoned schools: Stephen Decatur Middle School (math 0% / reading 5%, grade F, #658 of 665 statewide, top 99%, 459 students, 0% FRL) — zoned schools average 0% FRL vs 73% district-wide (73 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 136 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 32% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,018 (13.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.86% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $96,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 Whippoorwill Dr	0.18mi	3/1.5	962 (-8%)	1mo	$129,000	$134	78
56 Whippoorwill Dr	0.25mi	3/1.0	1,094 (+5%)	12mo	$99,897	$91	68
3379 E Condor Dr	0.19mi	3/2.0	1,141 (+10%)	13mo	$128,000	$112	63
23 Tanager Dr	0.31mi	3/1.0	913 (-12%)	3mo	$92,000	$101	61
22 Tanager Dr	0.28mi	3/1.0	1,108 (+6%)	16mo	$30,000	$27	61
67 Oriole Dr	0.26mi	3/1.0	952 (-8%)	14mo	$117,000	$123	61
75 Oriole Dr	0.27mi	3/1.0	986 (-5%)	20mo	$87,500	$89	60
75 Whippoorwill Dr	0.30mi	3/1.0	1,192 (+15%)	1mo	$60,000	$50	59
3480 Plover Dr	0.10mi	3/2.0	1,195 (+15%)	20mo	$131,000	$110	52
78 Oriole Dr	0.25mi	3/1.0	1,173 (+13%)	17mo	$100,000	$85	50
2809 E Cardinal Dr	0.46mi	3/1.0	900 (-14%)	11mo	$80,000	$89	45
2829 Cardinal Dr	0.42mi	3/1.0	912 (-12%)	16mo	$85,100	$93	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.49×
• Total profit: $-21,343
• Equity at exit: $27,652

10-year hold

• IRR: -5.3%
• Equity multiple: 0.60×
• Total profit: $-16,731
• Equity at exit: $22,254

Cash invested: $41,972 (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 62526

• Home prices YoY: -1.2%
• Active inventory: 136
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,290 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$203 /mo · $2,438/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-32

Break-even live

Break-even rent $1,331

Max offer price $144,169

Occupancy floor 98%

Sensitivity live

Price	-10% $52	-5% $10	+0% $-32	+5% $-75	+10% $-117
Rent	-10% $-134	-5% $-83	+0% $-32	+5% $19	+10% $69
Rate	-1.0pp $43	-0.5pp $6	base $-32	+0.5pp $-71	+1.0pp $-111

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4145 N Camelot Dr Decatur, IL	4.0	1.5	1449	$1,400	$0.97	22d	1	1.43mi

Listing history 9 events

1. 2026-06-22
   days on market $149,900 Active 11 DOM
2. 2026-06-19
   days on market $149,900 Active 9 DOM
3. 2026-06-18
   days on market $149,900 Active 8 DOM
4. 2026-06-17
   days on market $149,900 Active 7 DOM
5. 2026-06-16
   days on market $149,900 Active 6 DOM
6. 2026-06-15
   days on market $149,900 Active 5 DOM
7. 2026-06-14
   days on market $149,900 Active 3 DOM
8. 2026-06-13
   remarks 693-char remark
9. 2026-06-13
   listed $149,900 Active 2 DOM

ⓘ 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: $2,438 · $203/mo
• Projected year-2 tax: $2,920 · $243/mo
• Expected delta: +$483/yr (+$40/mo · 19.8%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 49% 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: $15,482
• − Mortgage interest: −$8,397
• − Property taxes: −$2,438
• − Insurance: −$750
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$4,361
• Taxable loss: −$2,940
• Est. tax savings @ 24.0%: +$705
• After-tax cash flow: $316/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): 30,483
• Household income: $49,062
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1041.0

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 (68%)
• Race & ethnicity: White 68% Black 22% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1%

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: ▼ -2.21%
• Current HPI: 182.871
• 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

1 event — show timeline

• 2026-06-11 Listed $149,900 CIBR

Property tax history

+4.4%/yr

Latest (2024): $2,438 · +13.0% YoY. Source: county tax records.