754 S Oakland Ave · Decatur, IL 62522

$58,500

3 bd · 1.0 ba · 1,259 sqft · Other public records · 27 Days on market

Built 1950 7,405 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 property is eligible under the Freddie Mac First Look initiative through 10/25/2011. Great investment opportunity. Property sold ""as-is"". POF or pre approval for all offers.

Key facts

• Functional layout
• Convenient location
• Basement space

Tags

• INVESTMENT OPPORTUNITY
• FIXER-UPPER
• FUNCTIONAL LAYOUT
• BASEMENT SPACE
• DETACHED GARAGE
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Property is not currently leased; Not rebuilt or rehabbed; Built before 1978
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (garage owned); Concrete driveway; 1 garage parking space (1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Built approximately 71–80 years ago; Living area reported from assessor
• Construction: Vinyl siding; Total finished + unfinished area includes finished and basement space
• Exterior features: Lot dimensions approximately 65 x 113 x 65 x 115; Lot size less than 0.25 acre

Interior

• Kitchen: Kitchen on the main level with tile flooring
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on the main level
• Flooring: Tile flooring in dining room, kitchen and living room
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 6 total rooms; Unfinished full basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $58k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.5% 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $404 of loan paydown is wiped out by about $2k 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 $16k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,622 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 1.81% ✓
• Cap rate: 13.50%
• Cash-on-cash: 25.74%
• DSCR: 2.15
• GRM: 4.6

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: 19.5%
• Equity multiple: 1.79×
• Total profit: $12,964
• Equity at exit: $8,723

10-year hold

• IRR: 27.8%
• Equity multiple: 3.46×
• Total profit: $40,371
• Equity at exit: $5,058

Cash invested: $16,380 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,059 high
• Mortgage (P&I): −$307
• Tax from tax record: −$154 /mo · $1,848/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $351

Break-even live

Break-even rent $614

Max offer price $58,500

Occupancy floor 62%

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: $14,625
• Closing costs: $1,755
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 S Church St Decatur, IL	3.0	1.5	1250	$1,199	$0.96	13d	1	0.86mi
853 N College St Decatur, IL	2.0	1.0	936	$925	$0.99	43d	1	1.18mi
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	43d	1	1.30mi
759 E Lawrence St Decatur, IL	3.0	1.0	1080	$695	$0.64	43d	1	1.36mi
803 E Whitmer St Decatur, IL	3.0	1.0	900	$935	$1.04	43d	1	1.38mi

Listing history 21 events

1. 2026-06-19
   days on market $58,500 Active 27 DOM
2. 2026-06-18
   days on market $58,500 Active 26 DOM
3. 2026-06-17
   days on market $58,500 Active 25 DOM
4. 2026-06-16
   days on market $58,500 Active 24 DOM
5. 2026-06-15
   days on market $58,500 Active 23 DOM
6. 2026-06-14
   days on market $58,500 Active 21 DOM
7. 2026-06-13
   days on market $58,500 Active 20 DOM
8. 2026-06-10
   days on market $58,500 Active 18 DOM
9. 2026-06-09
   days on market $58,500 Active 17 DOM
10. 2026-06-08
    days on market $58,500 Active 16 DOM
11. 2026-06-07
    days on market $58,500 Active 15 DOM
12. 2026-06-05
    days on market $58,500 Active 12 DOM
13. 2026-06-02
    days on market $58,500 Active 10 DOM
14. 2026-06-01
    days on market $58,500 Active 9 DOM
15. 2026-05-31
    days on market $58,500 Active 8 DOM
16. 2026-05-30
    days on market $58,500 Active 7 DOM
17. 2026-05-22
    listed $58,500 Active
18. 2015-07-22
    soldstatus $300,000
19. 2011-11-23
    soldstatus $10,500 203-char remark

    Show marketing remark (203 chars)

    This property is eligible under the Freddie Mac First Look initiative through 10/25/2011. Great investment opportunity. Property sold ""as-is"". POF or pre approval for all offers.

20. 2011-10-10
    listed $12,500 203-char remark

    Show marketing remark (203 chars)

    This property is eligible under the Freddie Mac First Look initiative through 10/25/2011. Great investment opportunity. Property sold ""as-is"". POF or pre approval for all offers.

21. 2005-06-30
    soldstatus $39,000

ⓘ 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: $1,848 · $154/mo
• Projected year-2 tax: $1,848 · $154/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 ≥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: $12,706
• − Mortgage interest: −$3,277
• − Property taxes: −$1,848
• − Insurance: −$292
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$1,702
• Taxable income: $3,554
• Est. tax owed @ 24.0%: −$853
• After-tax cash flow: $3,363/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

+50.0% since first listed

5 events — show timeline

• 2026-05-22 Listed $58,500 MRED as Distributed by MLS Grid
• 2015-07-22 Sold (Public Records) $300,000 Public Records
• 2011-11-23 Sold (MLS) $10,500 MRED as Distributed by MLS Grid
• 2011-10-10 Listed $12,500 MRED as Distributed by MLS Grid
• 2005-06-30 Sold (Public Records) $39,000 Public Records

Property tax history

+1.9%/yr

Latest (2024): $1,848 · +49.6% YoY. Source: county tax records.