1612 E Cleveland Ave · Decatur, IL 62521

$19,900

2 bd · 1.0 ba · 2,050 sqft · SingleFamily · 12 Days on market

Built 1925 6,720 sqft lot $10/sqft · 75% below area

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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

Just a short walk to the lake, hospital, and Eisenhower High School, this charming 1925 bungalow offers comfort, character, and plenty of space to enjoy. The home features 2 bedrooms, a cozy dining nook, and surprisingly spacious kitchen and living areas that make it feel especially welcoming. Relax on the large back deck or unwind on the covered front porch, and enjoy the added convenience of an oversized 2-car garage. The generous yard offers plenty of room for gardening, while the vacant corner lot next door adds an extra sense of privacy and open space. This property is Fannie Mae restricted and must be listed for 20 days before non-owner occupant or investor offers can be reviewed; own

Key facts

• Large back deck
• Covered front porch
• Generous yard

Tags

• WALK TO THE LAKE
• COZY DINING NOOK
• LARGE BACK DECK
• COVERED FRONT PORCH
• GENEROUS YARD
• VACANT CORNER LOT

Property features AI

Finance

• Other: Lot approximately 0.15 acres (dimensions 42 x 160); Zoned RES
• Financial info: No investor or rental income details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Detached garage
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-level / single story
• Construction: Shingle roof; Asphalt construction material; Built with a foundation and includes a full basement
• Exterior features: Deck; Front porch; Concrete driveway/road surface

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: 5 total rooms (bedroom count not specified)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Gas water heater; Unfinished full basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $716 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Cap rate 49.4% 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: 193 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $597 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,900

Questions for the listing agent

1. Built in 1925 — 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. 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: 5.67% ✓
• Cap rate: 49.44%
• Cash-on-cash: 154.10%
• DSCR: 7.86
• GRM: 1.5

CMA / ARV

• ARV (median comp): $80,008
• List price: $19,900
• Delta: -75.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
713 S 17th St	0.23mi	3/2.5 (+1)	1,850 (-10%)	13mo	$97,200	$53	52
1976 E Decatur St	0.54mi	3/1.5 (+1)	2,064 (+1%)	22mo	$107,000	$52	49
228 Southmoreland Pl	0.42mi	3/2.0 (+1)	2,317 (+13%)	3mo	$183,000	$79	48
1353 Parkwood Pl	0.51mi	3/1.0 (+1)	1,966 (-4%)	20mo	$65,000	$33	47
61 Eastmoreland Dr	0.55mi	3/1.5 (+1)	1,892 (-8%)	10mo	$170,000	$90	46
2133 E Moore St	0.49mi	3/1.5 (+1)	1,836 (-10%)	8mo	$79,000	$43	46
321 Southmoreland Pl	0.57mi	3/2.5 (+1)	1,988 (-3%)	14mo	$293,000	$147	46
1831 E Main St	0.71mi	2/1.0	1,900 (-7%)	11mo	$50,000	$26	46
2145 E Dickinson Ave	0.45mi	3/2.5 (+1)	1,778 (-13%)	10mo	$167,000	$94	38
931 E Cantrell St	0.48mi	3/2.5 (+1)	1,850 (-10%)	22mo	$23,000	$12	32
2172 E Johns Ave	0.71mi	3/1.0 (+1)	1,750 (-15%)	23mo	$67,000	$38	18

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: —
• Equity multiple: 8.61×
• Total profit: $42,387
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 18.18×
• Total profit: $95,755
• Equity at exit: $1,721

Cash invested: $5,572 (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: 1.5×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$63 /mo · $752/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $716

Break-even live

Break-even rent $222

Max offer price $19,900

Occupancy floor 32%

Sensitivity live

Price	-10% $727	-5% $721	+0% $716	+5% $710	+10% $704
Rent	-10% $626	-5% $671	+0% $716	+5% $760	+10% $805
Rate	-1.0pp $726	-0.5pp $721	base $716	+0.5pp $710	+1.0pp $705

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1524 E Prairie St Decatur, IL	3.0	1.0	1400	$1,250	$0.89	44d	1	0.78mi

Listing history 1 events

1. 2026-05-11
   listed $19,900 Active 836-char remark

ⓘ 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: $752 · $63/mo
• Projected year-2 tax: $752 · $63/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: $13,532
• − Mortgage interest: −$1,115
• − Property taxes: −$752
• − Insurance: −$100
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$579
• Taxable income: $8,822
• Est. tax owed @ 24.0%: −$2,117
• After-tax cash flow: $6,469/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

2 events — show timeline

• 2026-05-25 Pending — CIBR
• 2026-05-11 Listed $19,900 CIBR

Property tax history

+2.9%/yr

Latest (2024): $752 · +3.8% YoY. Source: county tax records.