1585 W Sunset Ave · Decatur, IL 62522

$76,000

3 bd · 1.5 ba · 1,516 sqft · SingleFamily · 136 Days on market

Built 1940 5,850 sqft lot Est $123k · 38% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Charming west end 2-story with refinished walls and light and airy color scheme. The ceramic tiled entry has window seat for storage. Formal living room has wood burning fireplace and leads to the formal dining room with family room off of it that has a built-in cabinet and sliders to nice deck and the back yard. Off the kitchen is a half bath and access to the attached garage that is extra long. Also in the living room is the open staircase to the upper level that has all three bedrooms and full bath. The full unfinished basement has lots of storage space and the laundry hookups. The neighborhood is very eclectic with many different and unique homes. Located near Millikin University and not far from shopping and restaurants. Lot Size: 50x117

Key facts

• Backyard and deck
• Cozy fireplace
• Walking bike path

Tags

• WALKING BIKE PATH
• COZY FIREPLACE
• BACKYARD AND DECK
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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; 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 $525 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 $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $14k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.56% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.36%
• DSCR: 1.73
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $122,796
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
525 S Westlawn Ave	0.36mi	3/1.5	1,510 (-0%)	2mo	$77,250	$51	81
1482 W Forest Ave	0.22mi	4/1.5 (+1)	1,638 (+8%)	1mo	$88,000	$54	71
1560 W Sunset Ave Ave	0.05mi	3/2.5	1,730 (+14%)	2mo	$147,000	$85	68
145 N Taylor Ave	0.53mi	3/1.0	1,560 (+3%)	2mo	$121,000	$78	67
215 N Taylor Ave	0.55mi	2/1.5 (-1)	1,524 (+0%)	2mo	$82,000	$54	66
1624 W Forest Ave	0.18mi	2/1.5 (-1)	1,325 (-13%)	1mo	$128,000	$97	65
457 Glencoe Ave	0.49mi	2/1.0 (-1)	1,586 (+5%)	0mo	$112,000	$71	62
128 Victoria Ave	0.66mi	3/1.0	1,466 (-3%)	3mo	$115,000	$78	60
2145 W Main St	0.68mi	3/1.5	1,614 (+6%)	4mo	$145,000	$90	54
246 Oakdale Blvd	0.58mi	2/1.5 (-1)	1,384 (-9%)	3mo	$112,000	$81	51
369 Woodale Ave	0.56mi	3/1.0	1,331 (-12%)	5mo	$138,000	$104	48
163 Oakdale Blvd	0.52mi	2/1.0 (-1)	1,305 (-14%)	3mo	$120,000	$92	43

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: 7.5%
• Equity multiple: 1.29×
• Total profit: $6,260
• Equity at exit: $11,332

10-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $29,624
• Equity at exit: $6,571

Cash invested: $21,280 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,184 medium
• Mortgage (P&I): −$399
• Tax from tax record: −$215 /mo · $2,581/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $290

Break-even live

Break-even rent $817

Max offer price $76,000

Occupancy floor 70%

Sensitivity live

Price	-10% $333	-5% $312	+0% $290	+5% $269	+10% $247
Rent	-10% $197	-5% $243	+0% $290	+5% $337	+10% $384
Rate	-1.0pp $328	-0.5pp $310	base $290	+0.5pp $271	+1.0pp $250

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: $19,000
• Closing costs: $2,280
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1090 N Oakcrest Ave Decatur, IL	2.0	1.0	1344	$1,100	$0.82	44d	1	1.27mi
520 S Church St Decatur, IL	3.0	1.5	1250	$1,199	$0.96	14d	1	1.49mi

Listing history 15 events

1. 2026-06-19
   days on market $76,000 Active 136 DOM
2. 2026-06-18
   days on market $76,000 Active 135 DOM
3. 2026-06-17
   days on market $76,000 Active 134 DOM
4. 2026-06-16
   days on market $76,000 Active 133 DOM
5. 2026-06-15
   pricestatus $76,000 Active 132 DOM
6. 2026-03-25
   status Pending
7. 2026-02-09
   status Active
8. 2026-02-09
   price $79,900
9. 2025-11-07
   listed $89,900 Active
10. 2014-05-02
    soldstatus $76,000
11. 2014-04-30
    soldstatus $76,000 752-char remark

    Show marketing remark (758 chars)

    Charming west end 2-story with refinished walls and light and airy color scheme. The ceramic tiled entry has window seat for storage. Formal living room has wood burning fireplace and leads to the formal dining room with family room off of it that has a built-in cabinet and sliders to nice deck and the back yard. Off the kitchen is a half bath and access to the attached garage that is extra long. Also in the living room is the open staircase to the upper level that has all three bedrooms and full bath. The full unfinished basement has lots of storage space and the laundry hookups. The neighborhood is very eclectic with many different and unique homes. Located near Millikin University and not far from shopping and restaurants. Lot Size: 50x117

12. 2014-04-30
    soldstatus $76,000 758-char remark

    Show marketing remark (758 chars)

    Charming west end 2-story with refinished walls and light and airy color scheme. The ceramic tiled entry has window seat for storage. Formal living room has wood burning fireplace and leads to the formal dining room with family room off of it that has a built-in cabinet and sliders to nice deck and the back yard. Off the kitchen is a half bath and access to the attached garage that is extra long. Also in the living room is the open staircase to the upper level that has all three bedrooms and full bath. The full unfinished basement has lots of storage space and the laundry hookups. The neighborhood is very eclectic with many different and unique homes. Located near Millikin University and not far from shopping and restaurants. Lot Size: 50x117

13. 2013-11-19
    listed $79,897 752-char remark

    Show marketing remark (758 chars)

    Charming west end 2-story with refinished walls and light and airy color scheme. The ceramic tiled entry has window seat for storage. Formal living room has wood burning fireplace and leads to the formal dining room with family room off of it that has a built-in cabinet and sliders to nice deck and the back yard. Off the kitchen is a half bath and access to the attached garage that is extra long. Also in the living room is the open staircase to the upper level that has all three bedrooms and full bath. The full unfinished basement has lots of storage space and the laundry hookups. The neighborhood is very eclectic with many different and unique homes. Located near Millikin University and not far from shopping and restaurants. Lot Size: 50x117

14. 2013-11-19
    listed $79,897 758-char remark

    Show marketing remark (758 chars)

    Charming west end 2-story with refinished walls and light and airy color scheme. The ceramic tiled entry has window seat for storage. Formal living room has wood burning fireplace and leads to the formal dining room with family room off of it that has a built-in cabinet and sliders to nice deck and the back yard. Off the kitchen is a half bath and access to the attached garage that is extra long. Also in the living room is the open staircase to the upper level that has all three bedrooms and full bath. The full unfinished basement has lots of storage space and the laundry hookups. The neighborhood is very eclectic with many different and unique homes. Located near Millikin University and not far from shopping and restaurants. Lot Size: 50x117

15. 2011-04-30
    historical

ⓘ 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: $2,581 · $215/mo
• Projected year-2 tax: $2,581 · $215/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 ≥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: $14,211
• − Mortgage interest: −$4,257
• − Property taxes: −$2,581
• − Insurance: −$380
• − Repairs & maintenance: −$1,137
• − Management: −$1,137
• − Depreciation: −$2,211
• Taxable income: $2,508
• Est. tax owed @ 24.0%: −$602
• After-tax cash flow: $2,881/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

+0.0% since first listed

10 events — show timeline

• 2026-03-25 Pending — CIBR
• 2026-02-09 Relisted — CIBR
• 2026-02-09 Price Changed $79,900 CIBR
• 2025-11-07 Listed $89,900 CIBR
• 2014-05-02 Sold (Public Records) $76,000 Public Records
• 2014-04-30 Sold (MLS) $76,000 MRED as Distributed by MLS Grid
• 2014-04-30 Sold (MLS) $76,000 CIBR
• 2013-11-19 Listed $79,897 MRED as Distributed by MLS Grid
• 2013-11-19 Listed $79,897 CIBR
• 2011-04-30 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2024): $2,581 · +1.7% YoY. Source: county tax records.