140 Phillips Dr · Decatur, IL 62521

$135,000

2 bd · 1.5 ba · 1,793 sqft · SingleFamily · 21 Days on market

Built 1958 7,405 sqft lot Est $161k · 16% under

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Why this score? — see what drove the C+ 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 +23.5/30.0
• ARV discount +14.9/15.0
• DSCR +7.6/10.0
• 1% rule +5.9/10.0
• 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

At last a 2-bedroom that could easily be a 3-bedroom home in a desirable South Shores area with a walk-out lower level has been listed at a price you can afford. Very private & fenced rear yard with patio & a deck. This home has recently been painted & has new floor coverings. Move-in condition.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1958

Property features AI

Exterior

• Parking: Detached garage (1 garage space)
• Utilities: Public water; Public sewer
• Home design: Single family residence; One-level / 1 story; Vinyl siding; Shingle roof
• Construction: Vinyl siding construction
• Exterior features: Deck; Front porch; Patio; Fenced yard; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator; Gas water heater
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air; Whole house fan
• Interior features: Walk-in closet(s); Finished, full basement with walk-out access
• Laundry & utility: Washer/dryer location not specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 7.0% in Decatur — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 2 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 $933 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 21 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $77k; list at $135k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.00%
• DSCR: 1.36
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $161,370
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 Southwood Dr	0.26mi	3/2.0 (+1)	1,944 (+8%)	2mo	$144,900	$75	65
30 Ridge Lane Dr	0.28mi	3/2.0 (+1)	1,628 (-9%)	4mo	$145,000	$89	61
2605 Forrest Green Dr	0.33mi	3/2.5 (+1)	1,698 (-5%)	8mo	$195,000	$115	61
98 Ridgeway Dr	0.29mi	3/2.0 (+1)	1,953 (+9%)	7mo	$175,000	$90	59
123 S Shores Dr	0.69mi	3/1.0 (+1)	1,800 (+0%)	4mo	$165,900	$92	57
71 Sandcreek Dr	0.47mi	3/2.0 (+1)	1,636 (-9%)	2mo	$118,000	$72	54
20 Ridge Dr	0.40mi	3/2.0 (+1)	1,996 (+11%)	3mo	$116,000	$58	53
2626 S Forrest Green Dr	0.39mi	2/2.5	1,584 (-12%)	8mo	$135,000	$85	52
19 Peggy Ann Dr	0.42mi	3/2.0 (+1)	1,596 (-11%)	6mo	$130,000	$81	50
337 Hackberry Pl	0.73mi	2/2.5	1,924 (+7%)	2mo	$242,500	$126	48
3 Allen Bend Pl	0.75mi	3/2.0 (+1)	1,633 (-9%)	7mo	$235,500	$144	37
405 Hackberry Dr	0.65mi	3/2.5 (+1)	2,021 (+13%)	7mo	$215,100	$106	34

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

Projected returns pro-forma

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

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-5,829
• Equity at exit: $20,129

10-year hold

• IRR: 5.6%
• Equity multiple: 1.41×
• Total profit: $15,601
• Equity at exit: $11,672

Cash invested: $37,800 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,466 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$142 /mo · $1,700/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $252

Break-even live

Break-even rent $1,147

Max offer price $135,000

Occupancy floor 78%

Sensitivity live

Price	-10% $328	-5% $290	+0% $252	+5% $214	+10% $175
Rent	-10% $136	-5% $194	+0% $252	+5% $310	+10% $368
Rate	-1.0pp $320	-0.5pp $286	base $252	+0.5pp $217	+1.0pp $181

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Phillips Dr Decatur, IL	3.0	1.5	2250	$1,650	$0.73	44d	1	0.33mi
2150 S Imboden Pl Decatur, IL	2.0	2.0	1334	$2,775	$2.08	44d	1	0.75mi

Listing history 15 events

1. 2026-06-10
   statusdays on market $135,000 Pending 21 DOM
2. 2026-06-09
   days on market $135,000 Active Under Contract 20 DOM
3. 2026-06-08
   days on market $135,000 Active Under Contract 19 DOM
4. 2026-06-07
   days on market $135,000 Active Under Contract 18 DOM
5. 2026-06-05
   days on market $135,000 Active Under Contract 15 DOM
6. 2026-06-02
   days on market $135,000 Active Under Contract 13 DOM
7. 2026-06-01
   days on market $135,000 Active Under Contract 12 DOM
8. 2026-05-31
   days on market $135,000 Active Under Contract 11 DOM
9. 2026-05-30
   days on market $135,000 Active Under Contract 10 DOM
10. 2026-05-20
    listed Active Under Contract
11. 2026-05-20
    listed $135,000
12. 2014-04-24
    soldstatus $77,000
13. 2008-04-16
    soldstatus $75,000
14. 2008-04-14
    soldstatus $75,000 308-char remark

    Show marketing remark (308 chars)

    At last a 2-bedroom that could easily be a 3-bedroom home in a desirable South Shores area with a walk-out lower level has been listed at a price you can afford. Very private & fenced rear yard with patio & a deck. This home has recently been painted & has new floor coverings. Move-in condition.

15. 2007-11-05
    listed $79,900 308-char remark

    Show marketing remark (308 chars)

    At last a 2-bedroom that could easily be a 3-bedroom home in a desirable South Shores area with a walk-out lower level has been listed at a price you can afford. Very private & fenced rear yard with patio & a deck. This home has recently been painted & has new floor coverings. Move-in condition.

ⓘ 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: $1,700 · $142/mo
• Projected year-2 tax: $2,382 · $199/mo
• Expected delta: +$682/yr (+$57/mo · 40.1%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $17,586
• − Mortgage interest: −$7,562
• − Property taxes: −$1,700
• − Insurance: −$675
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$3,927
• Taxable income: $908
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $2,804/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

+69.0% since first listed

6 events — show timeline

• 2026-05-20 Listed — CIBR
• 2026-05-20 Listed $135,000 CIBR
• 2014-04-24 Sold (Public Records) $77,000 Public Records
• 2008-04-16 Sold (Public Records) $75,000 Public Records
• 2008-04-14 Sold (MLS) $75,000 MRED as Distributed by MLS Grid
• 2007-11-05 Listed $79,900 MRED as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2024): $1,700 · -24.8% YoY. Source: county tax records.