1202 Florida Ave · Decatur, IL 62521

$74,000

3 bd · 2.0 ba · 1,817 sqft · SingleFamily · 116 Days on market

Built 1964 5,663 sqft lot $41/sqft · 12% above area Est $66k · 12% over

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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
• 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
• ARV discount +2.2/15.0
• Schools +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR ALERT on this CUTE home that has over 1800 ft. ², 3 bedrooms, 2 full baths with a ton of potential, but in need of crucial renovations due to plumbing leak damage on the lower level. Upstairs this house features a beautifully updated kitchen with two toned cabinets, backsplash, island and stainless appliances. This home also has a newer A/C unit, newer W/ H and replaced vinyl windows. Located in the hilly neighborhood overlooking St. Mary’s Hospital and Lake Decatur. Investors come take a look!

Key facts

• Stainless appliances
• Two toned cabinets
• Updated kitchen

Tags

• UPDATED KITCHEN
• TWO TONED CABINETS
• STAINLESS APPLIANCES
• NEWER A C UNIT
• REPLACED VINYL WINDOWS
• OVERLOOKING LAKE DECATUR

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $67k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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 $512 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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y ago; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $67,340 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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: 1.65% ✓
• Cap rate: 12.47%
• Cash-on-cash: 22.05%
• DSCR: 1.98
• GRM: 5.0

CMA / ARV

• ARV (median comp): $66,226
• List price: $74,000
• Delta: 11.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2145 E Dickinson Ave	0.18mi	3/2.5	1,778 (-2%)	10mo	$167,000	$94	78
2133 E Moore St	0.35mi	3/1.5	1,836 (+1%)	8mo	$79,000	$43	73
713 S 17th St	0.41mi	3/2.5	1,850 (+2%)	13mo	$97,200	$53	65
61 Eastmoreland Dr	0.45mi	3/1.5	1,892 (+4%)	10mo	$170,000	$90	62
22 Eastmoreland Ln	0.47mi	3/2.0	1,702 (-6%)	8mo	$129,900	$76	61
1816 E Johns Ave	0.63mi	3/1.0	1,700 (-6%)	16mo	$37,000	$22	43
321 Southmoreland Pl	0.65mi	3/2.5	1,988 (+9%)	14mo	$293,000	$147	40
2172 E Johns Ave	0.69mi	3/1.0	1,750 (-4%)	23mo	$67,000	$38	39
1353 Parkwood Pl	0.73mi	3/1.0	1,966 (+8%)	20mo	$65,000	$33	31
1976 E Decatur St	0.56mi	3/1.5	2,064 (+14%)	22mo	$107,000	$52	31

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: 14.8%
• Equity multiple: 1.59×
• Total profit: $12,321
• Equity at exit: $11,034

10-year hold

• IRR: 23.6%
• Equity multiple: 3.04×
• Total profit: $42,213
• Equity at exit: $6,398

Cash invested: $20,720 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,224 medium
• Mortgage (P&I): −$388
• Tax from tax record: −$167 /mo · $2,010/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $381

Break-even live

Break-even rent $742

Max offer price $74,000

Occupancy floor 64%

Sensitivity live

Price	-10% $423	-5% $402	+0% $381	+5% $360	+10% $339
Rent	-10% $284	-5% $332	+0% $381	+5% $429	+10% $477
Rate	-1.0pp $418	-0.5pp $400	base $381	+0.5pp $362	+1.0pp $342

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: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	45d	1	0.97mi
520 S Church St Decatur, IL	3.0	1.5	1250	$1,199	$0.96	15d	1	1.49mi

Listing history 37 events

1. 2026-06-19
   days on market $74,000 Active 116 DOM
2. 2026-06-18
   days on market $74,000 Active 115 DOM
3. 2026-06-17
   days on market $74,000 Active 114 DOM
4. 2026-06-16
   days on market $74,000 Active 113 DOM
5. 2026-06-15
   days on market $74,000 Active 112 DOM
6. 2026-06-14
   days on market $74,000 Active 110 DOM
7. 2026-06-13
   days on market $74,000 Active 109 DOM
8. 2026-06-10
   days on market $74,000 Active 107 DOM
9. 2026-06-09
   days on market $74,000 Active 106 DOM
10. 2026-06-08
    days on market $74,000 Active 105 DOM
11. 2026-06-07
    days on market $74,000 Active 104 DOM
12. 2026-06-05
    days on market $74,000 Active 101 DOM
13. 2026-06-02
    days on market $74,000 Active 99 DOM
14. 2026-06-01
    days on market $74,000 Active 98 DOM
15. 2026-05-31
    days on market $74,000 Active 97 DOM
16. 2026-05-30
    days on market $74,000 Active 96 DOM
17. 2026-04-13
    price $74,000 519-char remark

    Show marketing remark (519 chars)

    INVESTOR ALERT on this CUTE home that has over 1800 ft. ², 3 bedrooms, 2 full baths with a ton of potential, but in need of crucial renovations due to plumbing leak damage on the lower level. Upstairs this house features a beautifully updated kitchen with two toned cabinets, backsplash, island and stainless appliances. This home also has a newer A/C unit, newer W/ H and replaced vinyl windows. Located in the hilly neighborhood overlooking St. Mary’s Hospital and Lake Decatur. Investors come take a look!

18. 2026-03-12
    price $75,000 519-char remark

    Show marketing remark (519 chars)

    INVESTOR ALERT on this CUTE home that has over 1800 ft. ², 3 bedrooms, 2 full baths with a ton of potential, but in need of crucial renovations due to plumbing leak damage on the lower level. Upstairs this house features a beautifully updated kitchen with two toned cabinets, backsplash, island and stainless appliances. This home also has a newer A/C unit, newer W/ H and replaced vinyl windows. Located in the hilly neighborhood overlooking St. Mary’s Hospital and Lake Decatur. Investors come take a look!

19. 2026-02-23
    listed $80,000 Active 519-char remark

    Show marketing remark (519 chars)

    INVESTOR ALERT on this CUTE home that has over 1800 ft. ², 3 bedrooms, 2 full baths with a ton of potential, but in need of crucial renovations due to plumbing leak damage on the lower level. Upstairs this house features a beautifully updated kitchen with two toned cabinets, backsplash, island and stainless appliances. This home also has a newer A/C unit, newer W/ H and replaced vinyl windows. Located in the hilly neighborhood overlooking St. Mary’s Hospital and Lake Decatur. Investors come take a look!

20. 2026-02-19
    historical
21. 2025-12-11
    price
22. 2025-11-30
    listed Active
23. 2025-11-19
    historical
24. 2025-03-05
    historical $1,450
25. 2025-02-28
    listed $1,450
26. 2025-02-27
    historical $1,450
27. 2025-02-19
    listed $1,450
28. 2025-01-26
    historical $1,450
29. 2025-01-23
    listed $1,450
30. 2025-01-23
    historical $1,450
31. 2025-01-16
    listed $1,450
32. 2023-06-03
    historical
33. 2019-10-01
    soldstatus $73,000
34. 2019-09-27
    soldstatus $72,900
35. 2019-09-27
    soldstatus $72,900
36. 2019-07-19
    listed $72,900
37. 2019-07-19
    listed $72,900

ⓘ 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: $2,010 · $167/mo
• Projected year-2 tax: $2,010 · $167/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 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: $14,690
• − Mortgage interest: −$4,145
• − Property taxes: −$2,010
• − Insurance: −$370
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$2,153
• Taxable income: $3,662
• Est. tax owed @ 24.0%: −$879
• After-tax cash flow: $3,690/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

+1.5% since first listed

21 events — show timeline

• 2026-04-13 Price Changed $74,000 CIBR
• 2026-03-12 Price Changed $75,000 CIBR
• 2026-02-23 Listed $80,000 CIBR
• 2026-02-19 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-11 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-30 Listed — RMLSA as Distributed by MLS Grid
• 2025-11-19 Coming Soon — RMLSA as Distributed by MLS Grid
• 2025-03-05 Rental Removed $1,450 RENTALBEAST
• 2025-02-28 Listed for Rent $1,450 RENTALBEAST
• 2025-02-27 Rental Removed $1,450 TURBOTENANT
• 2025-02-19 Listed for Rent $1,450 TURBOTENANT
• 2025-01-26 Rental Removed $1,450 RENTALBEAST
• 2025-01-23 Listed for Rent $1,450 RENTALBEAST
• 2025-01-23 Rental Removed $1,450 TURBOTENANT
• 2025-01-16 Listed for Rent $1,450 TURBOTENANT
• 2023-06-03 Rental Removed — TURBOTENANT
• 2019-10-01 Sold (Public Records) $73,000 Public Records
• 2019-09-27 Sold (MLS) $72,900 MRED as Distributed by MLS Grid
• 2019-09-27 Sold (MLS) $72,900 CIBR
• 2019-07-19 Listed $72,900 MRED as Distributed by MLS Grid
• 2019-07-19 Listed $72,900 CIBR

Property tax history

+6.1%/yr

Latest (2024): $2,010 · +1.9% YoY. Source: county tax records.