1482 W Forest Ave · Decatur, IL 62522

$84,500

4 bd · 1.5 ba · 1,092 sqft · SingleFamily public records · 17 Days on market

Built 1923 5,663 sqft lot Est $81k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +5.4/15.0
• 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

In the same family for the last 17 years! This charming 4-bedroom, 1.5-story home is nestled in the historic West End and is full of timeless character. Step inside to find beautiful original woodwork and hardwood floors throughout. The inviting front covered porch sets the tone, while the living room showcases a stunning full brick-wall fireplace—perfect for cozy evenings. The dining room features a built-in window seat, adding both charm and functionality. The kitchen offers abundant wood cabinetry, plenty of counter space, and easy access to the large deck—ideal for entertaining or relaxing while overlooking the fenced backyard. A shed provides great storage for tools, lawn e

Key facts

• Front covered porch
• Built-in window seat
• Original woodwork

Tags

• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• FRONT COVERED PORCH
• FULL BRICK-WALL FIREPLACE
• BUILT-IN WINDOW SEAT
• ABUNDANT WOOD CABINETRY

Property features AI

Finance

• Other: Residential zoning (RES)
• Financial info: No additional financial details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No parking information provided
• Security: No security information provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half level; One story (per public records)
• Construction: Brick and wood siding exterior; Shingle roof; No foundation year provided
• Exterior features: Front porch; Deck; Fenced yard; Shed(s); Workshop

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Gas water heater
• Bedrooms: No bedroom count provided
• Flooring: No flooring information provided
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: One fireplace; Unfinished full basement with walk-out access
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $83k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $584 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $84k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,232 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — 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: 1.40% ✓
• Cap rate: 11.29%
• Cash-on-cash: 17.83%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $80,808
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1391 W Decatur St	0.13mi	3/2.0 (-1)	1,156 (+6%)	5mo	$80,000	$69	73
1629 W Decatur St	0.19mi	3/1.0 (-1)	1,009 (-8%)	1mo	$75,000	$74	71
180 S Glencoe Ave	0.60mi	3/1.5 (-1)	1,110 (+2%)	2mo	$145,000	$131	63
423 S Mcclellan St	0.10mi	3/1.0 (-1)	1,209 (+11%)	11mo	$44,000	$36	61
660 S Haworth Ave	0.68mi	3/1.0 (-1)	1,130 (+4%)	3mo	$50,000	$44	53
227 N Dennis Ave	0.42mi	3/2.0 (-1)	1,188 (+9%)	13mo	$83,000	$70	48
363 S Glencoe Ave	0.59mi	3/1.0 (-1)	1,025 (-6%)	12mo	$99,900	$97	45
1075 W Prairie Ave	0.64mi	3/1.0 (-1)	1,209 (+11%)	0mo	$70,000	$58	45
415 N Summit Ave	0.60mi	3/2.0 (-1)	1,202 (+10%)	4mo	$135,000	$112	44
2416 W Forest Ave	0.71mi	3/1.5 (-1)	1,248 (+14%)	15mo	$116,000	$93	25

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: 9.4%
• Equity multiple: 1.37×
• Total profit: $8,718
• Equity at exit: $12,599

10-year hold

• IRR: 18.5%
• Equity multiple: 2.54×
• Total profit: $36,491
• Equity at exit: $7,306

Cash invested: $23,660 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,180 medium
• Mortgage (P&I): −$443
• Tax from tax record: −$102 /mo · $1,224/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $352

Break-even live

Break-even rent $735

Max offer price $84,500

Occupancy floor 65%

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: $21,125
• Closing costs: $2,535
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1345 N Fairview Ave Decatur, IL	3.0	1.0	785	$985	$1.25	43d	1	1.28mi
520 S Church St Decatur, IL	3.0	1.5	1250	$1,199	$0.96	13d	1	1.36mi
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	43d	1	1.40mi

Listing history 4 events

1. 2026-05-08
   status Pending
2. 2026-04-25
   historical Active Under Contract
3. 2026-04-21
   listed $84,500 Active
4. 2007-03-22
   soldstatus $16,900

ⓘ 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: $1,224 · $102/mo
• Projected year-2 tax: $1,571 · $131/mo
• Expected delta: +$347/yr (+$29/mo · 28.3%)

ⓘ 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 · 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: $14,157
• − Mortgage interest: −$4,733
• − Property taxes: −$1,224
• − Insurance: −$422
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$2,458
• Taxable income: $3,053
• Est. tax owed @ 24.0%: −$733
• After-tax cash flow: $3,487/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

+400.0% since first listed

4 events — show timeline

• 2026-05-08 Pending — CIBR
• 2026-04-25 Contingent — CIBR
• 2026-04-21 Listed $84,500 CIBR
• 2007-03-22 Sold (Public Records) $16,900 Public Records

Property tax history

-2.0%/yr

Latest (2024): $1,224 · +4.2% YoY. Source: county tax records.