1608 E Clay St · Decatur, IL 62521

$34,900

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 71 Days on market

Built 1897 6,600 sqft lot $38/sqft · 7% above area Est $33k · 7% 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
• ARV discount +4.4/15.0
• 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

Opportunity knocks with this clean 2 bed, 1 bath bungalow. This home has a new roof, recently replaced windows, newer furnace, and updated interior with spacious rooms, separate dining room and a cozy and cute kitchen featuring tile flooring. Call your realtor today for additional details investors this one is already income producing!

Key facts

• Replaced windows
• Separate dining room
• Updated interior

Tags

• NEW ROOF
• REPLACED WINDOWS
• UPDATED INTERIOR
• SEPARATE DINING ROOM
• TILE FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($889 rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.8% 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: 193 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 87% 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 is only 16% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $6k; list at $35k implies a 482% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 2.55% ✓
• Cap rate: 22.82%
• Cash-on-cash: 59.04%
• DSCR: 3.63
• GRM: 3.3

CMA / ARV

• ARV (median comp): $32,617
• List price: $34,900
• Delta: 7.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1536 E Main St	0.16mi	2/1.0	972 (+7%)	1mo	$35,000	$36	81
1714 Lawrence St	0.24mi	2/1.0	867 (-5%)	1mo	$33,000	$38	80
1958 E Main St	0.33mi	3/1.0 (+1)	909 (-0%)	1mo	$30,000	$33	79
1705 North St	0.37mi	2/1.0	892 (-2%)	1mo	$33,000	$37	78
1739 E Johns Ave	0.15mi	2/1.0	834 (-9%)	2mo	$40,000	$48	77
1252 E Whitmer St	0.37mi	2/1.0	861 (-6%)	0mo	$26,000	$30	73
2150 E Clay St	0.43mi	2/1.0	864 (-5%)	3mo	$49,000	$57	69
815 S 21st St	0.58mi	2/1.0	956 (+5%)	1mo	$33,000	$35	64
1105 S Jasper St	0.73mi	2/1.0	887 (-3%)	1mo	$34,500	$39	61
1901 Indiana Ct	0.72mi	3/1.0 (+1)	888 (-3%)	3mo	$68,000	$77	55
855 Stone St	0.54mi	2/1.0	800 (-12%)	1mo	$51,000	$64	54
1625 E Lincoln Ave	0.52mi	2/1.0	793 (-13%)	1mo	$34,000	$43	53

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: 57.7%
• Equity multiple: 3.56×
• Total profit: $24,968
• Equity at exit: $5,204

10-year hold

• IRR: 62.5%
• Equity multiple: 7.26×
• Total profit: $61,179
• Equity at exit: $3,018

Cash invested: $9,772 (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: 3.3×

Monthly cashflow live

• Estimated rent: $889 high
• Mortgage (P&I): −$183
• Tax from tax record: −$24 /mo · $291/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $481

Break-even live

Break-even rent $281

Max offer price $34,900

Occupancy floor 41%

Sensitivity live

Price	-10% $501	-5% $491	+0% $481	+5% $471	+10% $461
Rent	-10% $411	-5% $446	+0% $481	+5% $516	+10% $551
Rate	-1.0pp $498	-0.5pp $490	base $481	+0.5pp $472	+1.0pp $463

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
165 S East Ave Unit NA Decatur, IL	2.0	1.0	850	$800	$0.94	45d	1	0.11mi
249 N 17th St Decatur, IL	3.0	2.0	700	$995	$1.42	45d	1	0.25mi
1237 E Johns Ave Decatur, IL	2.0	1.0	1000	$895	$0.90	45d	1	0.26mi
1245 Sedgwick St Decatur, IL	2.0	1.0	1055	$895	$0.85	45d	1	0.28mi
1304 E Lawrence St Decatur, IL	2.0	1.0	850	$850	$1.00	45d	1	0.33mi
698 S Stone St Decatur, IL	2.0	1.0	900	$795	$0.88	45d	1	0.34mi
1455 E Whitmer St Decatur, IL	2.0	1.0	1050	$915	$0.87	45d	1	0.35mi
347 N Stone St Decatur, IL	2.0	1.0	850	$875	$1.03	45d	1	0.37mi
1718 E Cantrell St Decatur, IL	3.0	2.0	900	$1,000	$1.11	45d	1	0.44mi
2032 E North St Decatur, IL	2.0	1.0	754	$900	$1.19	45d	1	0.51mi
759 E Lawrence St Decatur, IL	3.0	1.0	1080	$695	$0.64	45d	1	0.69mi
803 E Whitmer St Decatur, IL	3.0	1.0	900	$935	$1.04	45d	1	0.70mi
2448 E Wood St Decatur, IL	3.0	1.0	800	$995	$1.24	15d	1	0.87mi
1035 S Main St Decatur, IL	2.0	1.0	847	$880	$1.04	15d	7	1.29mi
1729 N Woodford St Decatur, IL	2.0	1.0	728	$825	$1.13	45d	1	1.37mi

Listing history 17 events

1. 2026-06-19
   days on market $34,900 Active 71 DOM
2. 2026-06-18
   days on market $34,900 Active 70 DOM
3. 2026-06-17
   days on market $34,900 Active 69 DOM
4. 2026-06-16
   days on market $34,900 Active 68 DOM
5. 2026-06-15
   days on market $34,900 Active 67 DOM
6. 2026-06-14
   status $34,900 Active 65 DOM
7. 2026-04-10
   status Active 337-char remark

   Show marketing remark (337 chars)

   Opportunity knocks with this clean 2 bed, 1 bath bungalow. This home has a new roof, recently replaced windows, newer furnace, and updated interior with spacious rooms, separate dining room and a cozy and cute kitchen featuring tile flooring. Call your realtor today for additional details investors this one is already income producing!

8. 2026-03-25
   status Pending 337-char remark

   Show marketing remark (337 chars)

   Opportunity knocks with this clean 2 bed, 1 bath bungalow. This home has a new roof, recently replaced windows, newer furnace, and updated interior with spacious rooms, separate dining room and a cozy and cute kitchen featuring tile flooring. Call your realtor today for additional details investors this one is already income producing!

9. 2026-03-09
   listed $34,900 Active 337-char remark

   Show marketing remark (337 chars)

   Opportunity knocks with this clean 2 bed, 1 bath bungalow. This home has a new roof, recently replaced windows, newer furnace, and updated interior with spacious rooms, separate dining room and a cozy and cute kitchen featuring tile flooring. Call your realtor today for additional details investors this one is already income producing!

10. 2014-01-30
    soldstatus $6,000 197-char remark

    Show marketing remark (197 chars)

    2-bedroom home offers dining room and full basement. This is a Fannie Mae HomePath property. Owner occupied offers only first 15 days of listing period. Visit www. homepath.com for countdown clock.

11. 2014-01-30
    soldstatus $6,000

    Show marketing remark (197 chars)

    2-bedroom home offers dining room and full basement. This is a Fannie Mae HomePath property. Owner occupied offers only first 15 days of listing period. Visit www. homepath.com for countdown clock.

12. 2013-09-05
    listed $7,500 197-char remark

    Show marketing remark (197 chars)

    2-bedroom home offers dining room and full basement. This is a Fannie Mae HomePath property. Owner occupied offers only first 15 days of listing period. Visit www. homepath.com for countdown clock.

13. 2013-09-05
    listed $7,500

    Show marketing remark (197 chars)

    2-bedroom home offers dining room and full basement. This is a Fannie Mae HomePath property. Owner occupied offers only first 15 days of listing period. Visit www. homepath.com for countdown clock.

14. 2012-09-21
    historical
15. 2011-02-06
    historical
16. 2010-09-07
    historical
17. 2010-04-29
    historical

ⓘ 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: $291 · $24/mo
• Projected year-2 tax: $542 · $45/mo
• Expected delta: +$250/yr (+$21/mo · 85.9%)

ⓘ 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 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: $10,673
• − Mortgage interest: −$1,955
• − Property taxes: −$291
• − Insurance: −$174
• − Repairs & maintenance: −$854
• − Management: −$854
• − Depreciation: −$1,015
• Taxable income: $5,529
• Est. tax owed @ 24.0%: −$1,327
• After-tax cash flow: $4,442/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

+365.3% since first listed

11 events — show timeline

• 2026-04-10 Relisted — CIBR
• 2026-03-25 Pending — CIBR
• 2026-03-09 Listed $34,900 CIBR
• 2014-01-30 Sold (MLS) $6,000 MRED as Distributed by MLS Grid
• 2014-01-30 Sold (MLS) $6,000 CIBR
• 2013-09-05 Listed $7,500 MRED as Distributed by MLS Grid
• 2013-09-05 Listed $7,500 CIBR
• 2012-09-21 Listing Removed — MRED as Distributed by MLS Grid
• 2011-02-06 Listing Removed — MRED as Distributed by MLS Grid
• 2010-09-07 Listing Removed — MRED as Distributed by MLS Grid
• 2010-04-29 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

-6.8%/yr

Latest (2024): $291 · -2.7% YoY. Source: county tax records.