1951 E Florida Ct · Decatur, IL 62521

$45,000

4 bd · 2.0 ba · 1,667 sqft · SingleFamily · 23 Days on market

Built 1955 7,405 sqft lot $27/sqft · 41% below area Est $76k · 41% under

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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
• 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

RANCH Total Living area is 1667 with Family room and bedroom on the Lower Level. Move in Ready- NEW--- WINDOWS, FLOORING, BATHROOM, FANS AND PAINT. New Roof to be installed in April. Ranch with walk-out basement. Lower Level has large family room and bedroom with full bath. The lower level has 350' of storage. New concrete walk to fenced back yard and screened porch. Private area.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1955

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1955
• Construction: Shingle roof; Year built 1955
• Exterior features: Shingle roof; Sloped lot; Paved road access; Irregular lot dimensions

Interior

• Kitchen: Kitchen on main level (vinyl flooring, approx. 10 x 12)
• Bedrooms: 4 bedrooms total; Main-level bedrooms with hardwood floors (two approx. 10 x 12 and 10 x 10); Basement bedroom with non-hardwood flooring (approx. 10 x 11); Additional-level bedroom/space
• Flooring: Hardwood flooring in several main-level bedrooms; Vinyl flooring in the kitchen; Other flooring in the basement bedroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement, partially finished; No fireplaces

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.5% 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: 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 $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask is 3362% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — 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: 2.72% ✓
• Cap rate: 22.50%
• Cash-on-cash: 57.89%
• DSCR: 3.58
• GRM: 3.1

CMA / ARV

• ARV (median comp): $76,398
• List price: $45,000
• Delta: -41.10%
• 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
22 Eastmoreland Ln	0.38mi	3/2.0 (-1)	1,702 (+2%)	8mo	$129,900	$76	68
2145 E Dickinson Ave	0.26mi	3/2.5 (-1)	1,778 (+7%)	10mo	$167,000	$94	61
1061 E Lake Shore Dr	0.73mi	3/1.5 (-1)	1,716 (+3%)	1mo	$150,000	$87	53
246 Southmoreland Pl	0.36mi	3/1.5 (-1)	1,416 (-15%)	3mo	$115,000	$81	48
2133 E Moore St	0.44mi	3/1.5 (-1)	1,836 (+10%)	8mo	$79,000	$43	48
61 Eastmoreland Dr	0.36mi	3/1.5 (-1)	1,892 (+14%)	10mo	$170,000	$90	46
318 Southmoreland Pl	0.52mi	3/2.0 (-1)	1,504 (-10%)	14mo	$255,000	$170	43
713 S 17th St	0.47mi	3/2.5 (-1)	1,850 (+11%)	13mo	$97,200	$53	42
1816 E Johns Ave	0.71mi	3/1.0 (-1)	1,700 (+2%)	16mo	$37,000	$22	42
683 S 22nd St	0.56mi	3/1.0 (-1)	1,457 (-13%)	9mo	$80,000	$55	36
544 S 21st St	0.64mi	3/2.0 (-1)	1,456 (-13%)	17mo	$77,500	$53	30

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: 56.5%
• Equity multiple: 3.50×
• Total profit: $31,470
• Equity at exit: $6,710

10-year hold

• IRR: 61.4%
• Equity multiple: 7.15×
• Total profit: $77,448
• Equity at exit: $3,891

Cash invested: $12,600 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,223 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$104 /mo · $1,245/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $608

Break-even live

Break-even rent $454

Max offer price $45,000

Occupancy floor 45%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
759 E Lawrence St Decatur, IL	3.0	1.0	1080	$695	$0.64	43d	1	0.98mi
1524 E Prairie St Decatur, IL	3.0	1.0	1400	$1,250	$0.89	43d	1	1.03mi

Listing history 6 events

1. 2026-05-17
   historical $1,300
2. 2026-05-15
   listed $1,300
3. 2026-05-02
   listed $45,000 Active 105-char remark
4. 2010-06-03
   soldstatus $80,000
5. 2010-05-26
   soldstatus $80,000 394-char remark

   Show marketing remark (394 chars)

   RANCH Total Living area is 1667 with Family room and bedroom on the Lower Level. Move in Ready- NEW--- WINDOWS, FLOORING, BATHROOM, FANS AND PAINT. New Roof to be installed in April. Ranch with walk-out basement. Lower Level has large family room and bedroom with full bath. The lower level has 350' of storage. New concrete walk to fenced back yard and screened porch. Private area.

6. 2010-03-01
   listed $83,000 394-char remark

   Show marketing remark (394 chars)

   RANCH Total Living area is 1667 with Family room and bedroom on the Lower Level. Move in Ready- NEW--- WINDOWS, FLOORING, BATHROOM, FANS AND PAINT. New Roof to be installed in April. Ranch with walk-out basement. Lower Level has large family room and bedroom with full bath. The lower level has 350' of storage. New concrete walk to fenced back yard and screened porch. Private area.

ⓘ 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: $1,245 · $104/mo
• Projected year-2 tax: $1,245 · $104/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 4/10 Moderate 7 d/yr ≥106°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: $14,678
• − Mortgage interest: −$2,521
• − Property taxes: −$1,245
• − Insurance: −$225
• − Repairs & maintenance: −$1,174
• − Management: −$1,174
• − Depreciation: −$1,309
• Taxable income: $7,030
• Est. tax owed @ 24.0%: −$1,687
• After-tax cash flow: $5,607/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

-98.4% since first listed

7 events — show timeline

• 2026-05-26 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-17 Rental Removed $1,300 TURBOTENANT
• 2026-05-15 Listed for Rent $1,300 TURBOTENANT
• 2026-05-02 Listed $45,000 RMLSA as Distributed by MLS Grid
• 2010-06-03 Sold (Public Records) $80,000 Public Records
• 2010-05-26 Sold (MLS) $80,000 MRED as Distributed by MLS Grid
• 2010-03-01 Listed $83,000 MRED as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2024): $1,245 · +2.6% YoY. Source: county tax records.