376 E Melrose Ct · Decatur, IL 62526

$149,900

4 bd · 1.0 ba · 1,154 sqft · Other public records · 44 Days on market

Built 1954 0.26 ac lot $130/sqft · 231% above area

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Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• Appreciation +3.9/10.0
• 1% rule +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0

Listing remarks MLS

3/4 Bedroom, Mid-Century 1 story in the Elm's area. Jack-n-Jill 1/2 bath between 2 of the bedrooms. Hardwood under carpet. Eat in kitchen with opening to family room. Another room off the kitchen could be a dining room, home office or the homes 4th bedroom. Located on a dead end street with low traffic.

Key facts

• Fenced yard
• Open concept
• 0.26 acre lot

Tags

• FENCED YARD
• OPEN CONCEPT
• NEW BATHROOM RENOVATIONS

Property features AI

Finance

• Other: Property type: Residential

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level / One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Fenced yard; Shed(s); Asphalt and concrete road access

Interior

• Kitchen: Oven; Range; Dishwasher; Gas water heater
• Bedrooms: Total of 9 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Finished full basement; Smoke detector(s)
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $-2 ($-21/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (11.9% below list).
• Recommended offer: $132k (11.9% below list) — sets the bar for 1% rule.

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: 136 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $1k 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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $64k; list at $150k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,035 (11.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (median comp): $93,853
• List price: $149,900
• Delta: 59.72%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-2.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.54×
• Total profit: $-19,394
• Equity at exit: $27,652

10-year hold

• IRR: -3.9%
• Equity multiple: 0.70×
• Total profit: $-12,534
• Equity at exit: $22,254

Cash invested: $41,972 (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 62526

• Home prices YoY: -1.2%
• Active inventory: 136
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,320 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$196 /mo · $2,356/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $-2

Break-even live

Break-even rent $1,323

Max offer price $149,587

Occupancy floor 95%

Sensitivity live

Price	-10% $83	-5% $41	+0% $-2	+5% $-44	+10% $-87
Rent	-10% $-106	-5% $-54	+0% $-2	+5% $50	+10% $103
Rate	-1.0pp $74	-0.5pp $36	base $-2	+0.5pp $-41	+1.0pp $-80

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 E Pierson Ave Decatur, IL	3.0	1.0	895	$1,200	$1.34	45d	1	0.15mi
644 W Division St Decatur, IL	3.0	2.0	1365	$1,200	$0.88	45d	1	0.97mi
1245 N Union St Decatur, IL	3.0	2.0	1111	$995	$0.90	45d	1	1.09mi
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	45d	1	1.35mi

Listing history 15 events

1. 2026-06-13
   statusdays on market $149,900 Pending 44 DOM
2. 2026-06-10
   days on market $149,900 Active Under Contract 42 DOM
3. 2026-06-09
   days on market $149,900 Active Under Contract 41 DOM
4. 2026-06-08
   days on market $149,900 Active Under Contract 40 DOM
5. 2026-06-07
   days on market $149,900 Active Under Contract 39 DOM
6. 2026-06-05
   days on market $149,900 Active Under Contract 36 DOM
7. 2026-06-02
   statusdays on market $149,900 Active Under Contract 34 DOM
8. 2026-06-01
   days on market $149,900 Active 33 DOM
9. 2026-05-31
   days on market $149,900 Active 32 DOM
10. 2026-05-30
    days on market $149,900 Active 31 DOM
11. 2026-04-29
    listed $149,900 Active 616-char remark
12. 2025-12-19
    soldstatus $64,000
13. 2025-12-18
    soldstatus $64,000 Closed 304-char remark

    Show marketing remark (304 chars)

    3/4 Bedroom, Mid-Century 1 story in the Elm's area. Jack-n-Jill 1/2 bath between 2 of the bedrooms. Hardwood under carpet. Eat in kitchen with opening to family room. Another room off the kitchen could be a dining room, home office or the homes 4th bedroom. Located on a dead end street with low traffic.

14. 2025-11-14
    status Pending 304-char remark

    Show marketing remark (304 chars)

    3/4 Bedroom, Mid-Century 1 story in the Elm's area. Jack-n-Jill 1/2 bath between 2 of the bedrooms. Hardwood under carpet. Eat in kitchen with opening to family room. Another room off the kitchen could be a dining room, home office or the homes 4th bedroom. Located on a dead end street with low traffic.

15. 2025-11-06
    listed $69,900 Active 304-char remark

    Show marketing remark (304 chars)

    3/4 Bedroom, Mid-Century 1 story in the Elm's area. Jack-n-Jill 1/2 bath between 2 of the bedrooms. Hardwood under carpet. Eat in kitchen with opening to family room. Another room off the kitchen could be a dining room, home office or the homes 4th bedroom. Located on a dead end street with low traffic.

ⓘ 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: $2,356 · $196/mo
• Projected year-2 tax: $2,879 · $240/mo
• Expected delta: +$524/yr (+$44/mo · 22.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 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: $15,844
• − Mortgage interest: −$8,397
• − Property taxes: −$2,356
• − Insurance: −$750
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$4,361
• Taxable loss: −$2,553
• Est. tax savings @ 24.0%: +$613
• After-tax cash flow: $592/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): 30,483
• Household income: $49,062
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1041.0

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 (68%)
• Race & ethnicity: White 68% Black 22% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1%

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: ▼ -2.21%
• Current HPI: 182.871
• 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

+114.4% since first listed

7 events — show timeline

• 2026-06-12 Pending — CIBR
• 2026-06-02 Contingent — CIBR
• 2026-04-29 Listed $149,900 CIBR
• 2025-12-19 Sold (Public Records) $64,000 Public Records
• 2025-12-18 Sold (MLS) $64,000 CIBR
• 2025-11-14 Pending — CIBR
• 2025-11-06 Listed $69,900 CIBR

Property tax history

+6.1%/yr

Latest (2024): $2,356 · +0.8% YoY. Source: county tax records.