1035 W Main St · Decatur, IL 62522

$104,897

6 bd · 3.0 ba · 1,077 sqft · Other public records · 11 Days on market

Built 1912 7,000 sqft lot

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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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• 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

Discover the charm of 1035 W Main St, just steps away from the Millikin University campus. This historic 6-bedroom, 3 bathroom home, built in 1912, offers timeless appeal with its front and back staircases and classic formal living and dining rooms. The main level features a separate family room and laundry area for added convenience. Upstairs, you'll find four bedrooms on the 2nd story, with two additional bedrooms on the 3rd story, providing ample space for various needs. The vinyl siding ensures a maintenance-free exterior, while the rear parking accommodates multiple vehicles. With its spacious layout and prime location, this home presents endless opportunities at a fantastic price!

Key facts

• Laundry area
• Vinyl siding
• Historic home

Tags

• HISTORIC HOME
• FRONT AND BACK STAIRCASES
• FORMAL LIVING AND DINING ROOMS
• SEPARATE FAMILY ROOM
• LAUNDRY AREA
• VINYL SIDING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; 2 stories; Residential zoning
• Construction: Vinyl siding; Built on 2 stories
• Exterior features: Asphalt shingle roof; Gravel and other road surface

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 13 rooms (bedroom count not specified)
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating with forced air; Central air; Window unit(s)
• Interior features: Gas water heater; Range; Refrigerator; Unfinished full basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath other listed at $105k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 10.4% 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: crime F, amenities F, commute 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.
• Zoned schools: Stephen Decatur Middle School (math 0% / reading 5%, grade F, #658 of 665 statewide, top 99%, 459 students, 0% FRL) — zoned schools average 0% FRL vs 73% district-wide (73 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 73 active listings in the ZIP; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 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 $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 17y 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.
• Current owner paid $66k; list at $105k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,897

Questions for the listing agent

1. Built in 1912 — 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: 1.35% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.49%
• DSCR: 1.64
• GRM: 6.2

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: 5.0%
• Equity multiple: 1.19×
• Total profit: $5,642
• Equity at exit: $15,640

10-year hold

• IRR: 14.4%
• Equity multiple: 2.16×
• Total profit: $34,190
• Equity at exit: $9,070

Cash invested: $29,371 (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: 73
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,415 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$169 /mo · $2,027/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $355

Break-even live

Break-even rent $966

Max offer price $104,897

Occupancy floor 70%

Sensitivity live

Price	-10% $414	-5% $384	+0% $355	+5% $325	+10% $295
Rent	-10% $243	-5% $299	+0% $355	+5% $411	+10% $467
Rate	-1.0pp $408	-0.5pp $381	base $355	+0.5pp $328	+1.0pp $300

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: $26,224
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-15
   status $104,897 Pending 11 DOM
2. 2026-06-15
   days on market $104,897 Active 11 DOM
3. 2026-06-14
   days on market $104,897 Active 9 DOM
4. 2026-06-13
   days on market $104,897 Active 8 DOM
5. 2026-06-10
   days on market $104,897 Active 6 DOM
6. 2026-06-09
   days on market $104,897 Active 5 DOM
7. 2026-06-08
   days on market $104,897 Active 4 DOM
8. 2026-06-07
   days on market $104,897 Active 3 DOM
9. 2026-06-05
   remarks 695-char remark
10. 2026-06-05
    listed $104,897 Active 1 DOM

ⓘ 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: $2,027 · $169/mo
• Projected year-2 tax: $2,204 · $184/mo
• Expected delta: +$177/yr (+$15/mo · 8.7%)

ⓘ 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 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: $16,975
• − Mortgage interest: −$5,876
• − Property taxes: −$2,027
• − Insurance: −$524
• − Repairs & maintenance: −$1,358
• − Management: −$1,358
• − Depreciation: −$3,052
• Taxable income: $2,780
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $3,590/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

+637.4% since first listed

42 events — show timeline

• 2026-06-04 Listed $104,897 CIBR
• 2026-03-09 Rental Removed $2,340 RentEngineListings
• 2025-11-27 Price Changed $2,340 RentEngineListings
• 2025-11-20 Price Changed $2,390 RentEngineListings
• 2025-10-16 Price Changed $2,490 RentEngineListings
• 2025-09-14 Listed for Rent $2,700 RentEngineListings
• 2025-09-14 Rental Removed $2,700 TENANTTURNER2
• 2025-08-26 Price Changed $2,700 TENANTTURNER2
• 2025-08-16 Price Changed $2,900 TENANTTURNER2
• 2025-06-25 Price Changed $4,200 TENANTTURNER2
• 2025-06-06 Listed for Rent $2,700 TENANTTURNER2
• 2025-01-02 Sold (Public Records) $65,500 Public Records
• 2024-11-21 Sold (MLS) $65,500 CIBR
• 2024-11-21 Sold (MLS) $65,500 MRED as Distributed by MLS Grid
• 2024-11-20 Pending — MRED as Distributed by MLS Grid
• 2024-11-20 Pending — CIBR
• 2024-10-30 Contingent — MRED as Distributed by MLS Grid
• 2024-10-30 Contingent — CIBR
• 2024-10-22 Price Changed $69,897 MRED as Distributed by MLS Grid
• 2024-10-22 Price Changed $69,897 CIBR
• 2024-09-20 Price Changed $72,897 CIBR
• 2024-09-20 Price Changed $72,897 MRED as Distributed by MLS Grid
• 2024-08-28 Listed $78,897 CIBR
• 2024-08-28 Listed $78,897 MRED as Distributed by MLS Grid
• 2023-01-31 Sold (MLS) $75,000 MRED as Distributed by MLS Grid
• 2023-01-31 Sold (MLS) $75,000 CIBR
• 2023-01-27 Pending — CIBR
• 2023-01-27 Pending — MRED as Distributed by MLS Grid
• 2023-01-25 Sold (Public Records) $75,000 Public Records
• 2023-01-06 Relisted — MRED as Distributed by MLS Grid
• 2023-01-06 Relisted — CIBR
• 2023-01-01 Listing Removed — MRED as Distributed by MLS Grid
• 2022-06-22 Listed $84,900 MRED as Distributed by MLS Grid
• 2022-06-22 Listed $84,900 CIBR
• 2019-06-05 Sold (Public Records) $70,667 Public Records
• 2019-06-03 Sold (MLS) $71,000 MRED as Distributed by MLS Grid
• 2019-06-03 Sold (MLS) $71,000 CIBR
• 2019-04-11 Listed $84,900 MRED as Distributed by MLS Grid
• 2019-04-11 Listed $84,900 CIBR
• 2009-05-26 Sold (MLS) $12,500 MRED as Distributed by MLS Grid
• 2009-03-25 Listed $14,225 MRED as Distributed by MLS Grid
• 2008-11-11 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2024): $2,027 · -21.6% YoY. Source: county tax records.