32 Ridge Lane Dr · Decatur, IL 62521

$194,500

4 bd · 2.5 ba · 3,536 sqft · Other · 91 Days on market

Built 1963 7,405 sqft lot $55/sqft · 18% below area Est $237k · 18% under

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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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• 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

This move-in ready home in the South Shores area offers many thoughtful updates and comfortable living throughout. Inside, the home has been refreshed with newer carpeting and laminate flooring, along with a waterproofed basement that is a clean slate for additional living space. The lower level also features a cozy fireplace, perfect for relaxing evenings. Major updates include a roof replaced in 2022, HVAC replaced in September 2024, and an updated breaker box, providing peace of mind for the next owner. Schedule your showing to see all this home has to offer.

Key facts

• Laminate flooring
• Hvac replaced
• Newer carpeting

Tags

• NEWER CARPETING
• LAMINATE FLOORING
• WATERPROOFED BASEMENT
• COZY FIREPLACE
• ROOF REPLACED
• HVAC REPLACED

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath other listed at $194k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $194k).
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.

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; 1 comparable units currently listed for rent nearby; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($66k/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 $1k of loan paydown is wiped out by about $6k 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 91 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Recommended offer $176,995 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 1963 — 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: 1.07% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (median comp): $236,742
• List price: $194,500
• Delta: -17.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -6.1%
• Equity multiple: 0.78×
• Total profit: $-12,245
• Equity at exit: $29,001

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $14,227
• Equity at exit: $16,817

Cash invested: $54,460 (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: 7.8×

Monthly cashflow live

• Estimated rent: $2,073 medium
• Mortgage (P&I): −$1,020
• Tax from tax record: −$235 /mo · $2,818/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $302

Break-even live

Break-even rent $1,691

Max offer price $194,500

Occupancy floor 80%

Sensitivity live

Price	-10% $412	-5% $357	+0% $302	+5% $247	+10% $192
Rent	-10% $138	-5% $220	+0% $302	+5% $384	+10% $466
Rate	-1.0pp $400	-0.5pp $352	base $302	+0.5pp $252	+1.0pp $201

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: $48,625
• Closing costs: $5,835
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Eastmoreland Pl Decatur, IL	5.0	3.0	3300	$4,000	$1.21	14d	1	1.19mi

Listing history 21 events

1. 2026-06-15
   days on market $194,500 Active 91 DOM
2. 2026-06-14
   days on market $194,500 Active 89 DOM
3. 2026-06-13
   days on market $194,500 Active 88 DOM
4. 2026-06-10
   days on market $194,500 Active 86 DOM
5. 2026-06-09
   days on market $194,500 Active 85 DOM
6. 2026-06-08
   days on market $194,500 Active 84 DOM
7. 2026-06-07
   days on market $194,500 Active 83 DOM
8. 2026-06-05
   days on market $194,500 Active 80 DOM
9. 2026-06-02
   days on market $194,500 Active 78 DOM
10. 2026-06-01
    days on market $194,500 Active 77 DOM
11. 2026-05-31
    days on market $194,500 Active 76 DOM
12. 2026-05-30
    days on market $194,500 Active 75 DOM
13. 2026-04-07
    historical
14. 2026-03-16
    listed $194,500 Active 568-char remark

    Show marketing remark (568 chars)

    This move-in ready home in the South Shores area offers many thoughtful updates and comfortable living throughout. Inside, the home has been refreshed with newer carpeting and laminate flooring, along with a waterproofed basement that is a clean slate for additional living space. The lower level also features a cozy fireplace, perfect for relaxing evenings. Major updates include a roof replaced in 2022, HVAC replaced in September 2024, and an updated breaker box, providing peace of mind for the next owner. Schedule your showing to see all this home has to offer.

15. 2026-03-13
    listed Active
16. 2025-04-11
    soldstatus $193,000
17. 2025-04-04
    soldstatus $193,000 Closed
18. 2025-03-05
    status Pending
19. 2025-03-03
    historical Active Under Contract
20. 2024-12-12
    price $192,000
21. 2024-09-26
    listed $193,900 Active

ⓘ 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: $2,818 · $235/mo
• Projected year-2 tax: $3,616 · $301/mo
• Expected delta: +$799/yr (+$67/mo · 28.4%)

ⓘ 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 ≥105°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: $24,881
• − Mortgage interest: −$10,895
• − Property taxes: −$2,818
• − Insurance: −$972
• − Repairs & maintenance: −$1,990
• − Management: −$1,990
• − Depreciation: −$5,658
• Taxable income: $557
• Est. tax owed @ 24.0%: −$134
• After-tax cash flow: $3,493/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

+0.3% since first listed

9 events — show timeline

• 2026-04-07 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-03-16 Listed $194,500 CIBR
• 2026-03-13 Listed — RMLSA as Distributed by MLS Grid
• 2025-04-11 Sold (Public Records) $193,000 Public Records
• 2025-04-04 Sold (MLS) $193,000 CIBR
• 2025-03-05 Pending — CIBR
• 2025-03-03 Contingent — CIBR
• 2024-12-12 Price Changed $192,000 CIBR
• 2024-09-26 Listed $193,900 CIBR

Property tax history

+1.8%/yr

Latest (2024): $2,818 · +1.6% YoY. Source: county tax records.