1042 N 33rd St · Decatur, IL 62521

$79,500

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 30 Days on market

Built 1937 0.41 ac lot Est $57k · 39% 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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for workshop space? Look no more! This property includes 3 detached garages, all wired for electric and ready for your next project. The 2 bedroom, 2 bath home sits on .41 acres with a partially fenced level lot and plenty of trees for privacy. Main level has open kitchen, breakfast nook and living area. The full finished basement has a large family room, additional kitchen and bathroom - perfect for guests and entertaining! All appliances in upstairs and downstairs kitchens stay, plus NEW washer/dryer. Hot water heat. Sump pump in basement. Property is an estate and is being sold "as is", but don't let that scare you away - the property has been well maintained, including recently upgraded boiler parts and burner, new roof on all 3 garages and half of house within past 3 years and vinyl siding on house and garage. Central air currently not working, but window units are installed and work very well. Just a few cosmetic updates to make this wonderful home yours!

Key facts

• Kitchenette
• Half-acre lot
• Fresh paint

Tags

• HALF-ACRE LOT
• WOOD FLOORS
• FRESH PAINT
• KITCHENETTE
• DETACHED GARAGES
• PARTIALLY FENCED-IN YARD

Property features AI

Exterior

• Parking: Detached garage with 3 parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Front porch; Gravel road access; Workshop and outbuilding on the property

Interior

• Kitchen: Microwave; Range
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Finished and unfinished full basement; Gas water heater; Microwave; Range

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: 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: Hope Academy (math 0% / reading 2%, grade F, #2,052 of 2,056 statewide, top 100%, 563 students, 0% FRL); Stephen Decatur Middle School (math 0% / reading 5%, grade F, #658 of 665 statewide, top 99%, 459 students, 0% FRL); Eisenhower High School (math 2% / reading 8%, grade F, #614 of 693 statewide, top 95%, 934 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: 193 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $550 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 $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $49k; list at $80k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,307 (1.5% below list)

Questions for the listing agent

1. Built in 1937 — 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: 1.36% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.10%
• DSCR: 1.67
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $57,240
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
665 N 34th St	0.21mi	2/1.5	1,222 (+13%)	0mo	$83,500	$68	66
464 N 33rd St	0.40mi	2/1.0	981 (-9%)	2mo	$103,000	$105	65
333 N 35th St	0.52mi	3/1.0 (+1)	1,120 (+4%)	13mo	$45,000	$40	54
1790 N 34th St	0.61mi	3/1.0 (+1)	1,040 (-4%)	13mo	$45,000	$43	49
1724 33rd St	0.69mi	3/1.0 (+1)	1,064 (-2%)	14mo	$7,500	$7	49
3948 E Grand Ave	0.69mi	3/1.0 (+1)	1,006 (-7%)	4mo	$87,900	$87	48
2910 E Main St	0.69mi	3/1.0 (+1)	1,056 (-2%)	14mo	$55,000	$52	48
1789 N 32nd St	0.73mi	2/1.0	978 (-9%)	13mo	$52,000	$53	40
1749 N 31st St	0.71mi	2/1.0	1,200 (+11%)	16mo	$69,000	$58	35

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: 5.8%
• Equity multiple: 1.22×
• Total profit: $4,986
• Equity at exit: $11,854

10-year hold

• IRR: 15.2%
• Equity multiple: 2.23×
• Total profit: $27,439
• Equity at exit: $6,874

Cash invested: $22,260 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,082 high
• Mortgage (P&I): −$417
• Tax from tax record: −$124 /mo · $1,492/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $280

Break-even live

Break-even rent $727

Max offer price $79,500

Occupancy floor 69%

Sensitivity live

Price	-10% $325	-5% $303	+0% $280	+5% $258	+10% $235
Rent	-10% $195	-5% $237	+0% $280	+5% $323	+10% $366
Rate	-1.0pp $320	-0.5pp $300	base $280	+0.5pp $259	+1.0pp $239

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1635 N 28th St Decatur, IL	3.0	1.0	1200	$1,200	$1.00	45d	1	0.79mi
2448 E Wood St Decatur, IL	3.0	1.0	800	$995	$1.24	15d	1	0.97mi
2618 E Garfield Ave Decatur, IL	2.0	1.5	1170	$650	$0.56	15d	1	1.02mi
2135 E Prairie St Decatur, IL	2.0	1.0	1127	$1,100	$0.98	45d	1	1.28mi
2032 E North St Decatur, IL	2.0	1.0	754	$900	$1.19	45d	1	1.29mi
4318 E Cantrell St Decatur, IL	2.0	1.0	850	$1,500	$1.76	22d	1	1.47mi

Listing history 22 events

1. 2026-06-22
   days on market $79,500 Active 30 DOM
2. 2026-06-19
   days on market $79,500 Active 28 DOM
3. 2026-06-18
   days on market $79,500 Active 27 DOM
4. 2026-06-17
   days on market $79,500 Active 26 DOM
5. 2026-06-16
   days on market $79,500 Active 25 DOM
6. 2026-06-15
   days on market $79,500 Active 24 DOM
7. 2026-06-14
   days on market $79,500 Active 22 DOM
8. 2026-06-13
   days on market $79,500 Active 21 DOM
9. 2026-06-10
   days on market $79,500 Active 19 DOM
10. 2026-06-09
    days on market $79,500 Active 18 DOM
11. 2026-06-08
    days on market $79,500 Active 17 DOM
12. 2026-06-07
    days on market $79,500 Active 16 DOM
13. 2026-06-05
    days on market $79,500 Active 13 DOM
14. 2026-06-02
    days on market $79,500 Active 11 DOM
15. 2026-06-01
    days on market $79,500 Active 10 DOM
16. 2026-05-31
    days on market $79,500 Active 9 DOM
17. 2026-05-30
    days on market $79,500 Active 8 DOM
18. 2026-05-22
    listed $79,500 Active
19. 2018-07-31
    soldstatus $49,000 994-char remark

    Show marketing remark (994 chars)

    Looking for workshop space? Look no more! This property includes 3 detached garages, all wired for electric and ready for your next project. The 2 bedroom, 2 bath home sits on . 41 acres with a partially fenced level lot and plenty of trees for privacy. Main level has open kitchen, breakfast nook and living area. The full finished basement has a large family room, additional kitchen and bathroom - perfect for guests and entertaining! All appliances in upstairs and downstairs kitchens stay, plus NEW washer/dryer. Hot water heat. Sump pump in basement. Property is an estate and is being sold "as is", but don't let that scare you away - the property has been well maintained, including recently upgraded boiler parts and burner, new roof on all 3 garages and half of house within past 3 years and vinyl siding on house and garage. Central air currently not working, but window units are installed and work very well. Just a few cosmetic updates to make this wonderful home yours!

20. 2018-07-31
    soldstatus $49,000 994-char remark

    Show marketing remark (994 chars)

    Looking for workshop space? Look no more! This property includes 3 detached garages, all wired for electric and ready for your next project. The 2 bedroom, 2 bath home sits on . 41 acres with a partially fenced level lot and plenty of trees for privacy. Main level has open kitchen, breakfast nook and living area. The full finished basement has a large family room, additional kitchen and bathroom - perfect for guests and entertaining! All appliances in upstairs and downstairs kitchens stay, plus NEW washer/dryer. Hot water heat. Sump pump in basement. Property is an estate and is being sold "as is", but don't let that scare you away - the property has been well maintained, including recently upgraded boiler parts and burner, new roof on all 3 garages and half of house within past 3 years and vinyl siding on house and garage. Central air currently not working, but window units are installed and work very well. Just a few cosmetic updates to make this wonderful home yours!

21. 2018-06-15
    listed $49,900 994-char remark

    Show marketing remark (994 chars)

    Looking for workshop space? Look no more! This property includes 3 detached garages, all wired for electric and ready for your next project. The 2 bedroom, 2 bath home sits on . 41 acres with a partially fenced level lot and plenty of trees for privacy. Main level has open kitchen, breakfast nook and living area. The full finished basement has a large family room, additional kitchen and bathroom - perfect for guests and entertaining! All appliances in upstairs and downstairs kitchens stay, plus NEW washer/dryer. Hot water heat. Sump pump in basement. Property is an estate and is being sold "as is", but don't let that scare you away - the property has been well maintained, including recently upgraded boiler parts and burner, new roof on all 3 garages and half of house within past 3 years and vinyl siding on house and garage. Central air currently not working, but window units are installed and work very well. Just a few cosmetic updates to make this wonderful home yours!

22. 2018-06-15
    listed $49,900 994-char remark

    Show marketing remark (994 chars)

    Looking for workshop space? Look no more! This property includes 3 detached garages, all wired for electric and ready for your next project. The 2 bedroom, 2 bath home sits on . 41 acres with a partially fenced level lot and plenty of trees for privacy. Main level has open kitchen, breakfast nook and living area. The full finished basement has a large family room, additional kitchen and bathroom - perfect for guests and entertaining! All appliances in upstairs and downstairs kitchens stay, plus NEW washer/dryer. Hot water heat. Sump pump in basement. Property is an estate and is being sold "as is", but don't let that scare you away - the property has been well maintained, including recently upgraded boiler parts and burner, new roof on all 3 garages and half of house within past 3 years and vinyl siding on house and garage. Central air currently not working, but window units are installed and work very well. Just a few cosmetic updates to make this wonderful home yours!

ⓘ 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: $1,492 · $124/mo
• Projected year-2 tax: $1,648 · $137/mo
• Expected delta: +$156/yr (+$13/mo · 10.5%)

ⓘ 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 · 18 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: $12,979
• − Mortgage interest: −$4,453
• − Property taxes: −$1,492
• − Insurance: −$398
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$2,313
• Taxable income: $2,247
• Est. tax owed @ 24.0%: −$539
• After-tax cash flow: $2,822/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

+59.3% since first listed

5 events — show timeline

• 2026-05-22 Listed $79,500 CIBR
• 2018-07-31 Sold (MLS) $49,000 CIBR
• 2018-07-31 Sold (MLS) $49,000 MRED as Distributed by MLS Grid
• 2018-06-15 Listed $49,900 CIBR
• 2018-06-15 Listed $49,900 MRED as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2024): $1,492 · +2.3% YoY. Source: county tax records.