2512 Dewitt Ave · Mattoon, IL 61938

$24,900

1 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 51 Days on market

Built 1901 7,000 sqft lot

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Why this score? — see what drove the F 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 +9.7/30.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great property for the investor or handyman. Lots of potential and possibilities in this 2 bedroom home with nice sized rooms and oversize 1 car garage. * Must sign hold harmless disclosure before entering home. * * This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval. * Online bidding will begin on 5/10/2026.

Key facts

• 7,000 sq ft lot
• Garage
• Built 1901

🔨 Auction listing. The $24,900 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $103,801 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $-67 ($-809/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($823 rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 5.5% vs local median 3.6% in Mattoon — 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 64/100 on livability (#706 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, schools D-, amenities F.
• Mattoon CUSD 2 (town): math 13% / reading 24% proficiency, ranked #462 of 620 in IL (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 117 active listings in the ZIP; 34 units permitted in Coles County in 2024 (30 in 5+ unit buildings).
• This rent is only 17% of the median local income ($58k/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 $718 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Coles County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($24k) 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.

Risks & watch-outs

• Watch-outs: property tax is 6.3% of price; built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,153 (3.0% 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 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-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 D 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. 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?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.78%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $103,801
• List price: $24,900
• Delta: -76.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2416 Dewitt Ave	0.06mi	2/1.0 (+1)	1,020 (-8%)	12mo	$125,000	$123	69
808 N 22nd St	0.29mi	2/1.0 (+1)	962 (-13%)	0mo	$102,500	$107	60
3216 Champaign Ave	0.56mi	2/1.0 (+1)	1,116 (+1%)	10mo	$95,500	$86	59
2900 Dewitt Ave	0.26mi	2/1.0 (+1)	1,154 (+4%)	21mo	$127,000	$110	58
2613 Moultrie Ave	0.13mi	2/1.0 (+1)	972 (-12%)	16mo	$42,500	$44	55
2605 Richmond Ave	0.32mi	2/1.0 (+1)	1,179 (+7%)	20mo	$115,000	$98	52
420 N 33rd St	0.58mi	2/1.0 (+1)	1,156 (+5%)	11mo	$125,000	$108	51
3013 Champaign Ave	0.44mi	2/1.0 (+1)	1,050 (-5%)	19mo	$123,000	$117	50
2221 Charleston Ave	0.68mi	2/1.0 (+1)	1,026 (-7%)	3mo	$77,500	$76	49
2808 Prairie Ave	0.41mi	2/1.0 (+1)	962 (-13%)	7mo	$52,000	$54	48
3301 Moultrie Ave	0.58mi	2/1.0 (+1)	1,154 (+4%)	20mo	$66,000	$57	44
2521 Commercial Ave	0.57mi	2/1.0 (+1)	958 (-13%)	17mo	$28,000	$29	32

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: -20.9%
• Equity multiple: 0.27×
• Total profit: $-21,102
• Equity at exit: $15,477

10-year hold

• IRR: -14.3%
• Equity multiple: 0.18×
• Total profit: $-23,855
• Equity at exit: $8,975

Cash invested: $29,064 (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 61938

• Active inventory: 117
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $823 medium
• Mortgage (P&I): −$544
• Tax est. 1.5%: −$130 /mo · $1,557/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $-67

Break-even live

Break-even rent $908

Max offer price $94,044

Occupancy floor —

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: $25,950
• Closing costs: $3,114
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $24,900 Active 51 DOM
2. 2026-06-18
   days on market $24,900 Active 50 DOM
3. 2026-06-17
   remarks 589-char remark
4. 2026-06-17
   statusdays on market $24,900 Active 49 DOM
5. 2026-05-14
   status Pending 573-char remark

   Show marketing remark (573 chars)

   Great property for the investor or handyman. Lots of potential and possibilities in this 2 bedroom home with nice sized rooms and oversize 1 car garage. * Must sign hold harmless disclosure before entering home. * * This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval. * Online bidding will begin on 5/10/2026.

6. 2026-03-26
   listed $24,900 Active 573-char remark

   Show marketing remark (573 chars)

   Great property for the investor or handyman. Lots of potential and possibilities in this 2 bedroom home with nice sized rooms and oversize 1 car garage. * Must sign hold harmless disclosure before entering home. * * This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval. * Online bidding will begin on 5/10/2026.

7. 2025-04-29
   historical
8. 2025-04-08
   price
9. 2025-04-02
   price
10. 2025-03-29
    price
11. 2025-03-19
    price
12. 2025-03-09
    price
13. 2025-03-02
    price
14. 2025-02-12
    price
15. 2025-01-27
    listed Active
16. 2022-06-18
    historical
17. 2021-07-02
    historical
18. 2011-03-21
    historical
19. 2004-10-23
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥104°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,872
• − Mortgage interest: −$5,814
• − Property taxes: −$1,557
• − Insurance: −$519
• − Repairs & maintenance: −$790
• − Management: −$790
• − Depreciation: −$3,020
• Taxable loss: −$2,618
• Est. tax savings @ 24.0%: +$628
• After-tax cash flow: $-181/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: Mattoon CUSD 2
• NCES district ID: 1725050
• Math proficiency: 13% ▼ -9.00%
• Reading proficiency: 24% ▼ -12.00%
• Median HH income: $40,452
• Composite: 15.71/100
• National rank: #9280
• State rank: #462 of 620 in IL

Livability — Mattoon

• Score: 64/100
• State rank: #706
• US rank: #14352

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment F Housing A+ Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mattoon, IL
• County: Coles County · 41,301 people
• City population: 20,350
• Metro: Charleston-Mattoon, IL
• Population (ZIP): 20,350
• Household income: $57,503
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 453.0

Population outlook (Coles County) Hauer SSP2

• Today (2025): 53,967 people
• By 2030: 53,829 · -0.3%
• By 2040: 52,332 · -3.0%
• By 2050: 49,989 · -7.4%
• By 2075: 42,226 · -21.8%
• By 2100: 34,675 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Black 2%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Coles

• 2024 margin: Strong R (+28.5) · D 34.9% · R 63.4% · Other 1.7%
• 2008→2024 swing: -31.7pp toward R · 2008: 3.2pp · 2024: -28.5pp
• All cycles: 2024: R+28.5 2020: R+26.4 2016: R+26.4 2012: R+11.1 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.29%
• Current HPI: 133.8791
• Rent YoY: —
• Metro: Charleston-Mattoon, 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

15 events — show timeline

• 2026-05-14 Pending — CIBR
• 2026-03-26 Listed $24,900 CIBR
• 2025-04-29 Listing Removed — MRED as Distributed by MLS Grid
• 2025-04-08 Price Changed — MRED as Distributed by MLS Grid
• 2025-04-02 Price Changed — MRED as Distributed by MLS Grid
• 2025-03-29 Price Changed — MRED as Distributed by MLS Grid
• 2025-03-19 Price Changed — MRED as Distributed by MLS Grid
• 2025-03-09 Price Changed — MRED as Distributed by MLS Grid
• 2025-03-02 Price Changed — MRED as Distributed by MLS Grid
• 2025-02-12 Price Changed — MRED as Distributed by MLS Grid
• 2025-01-27 Listed — MRED as Distributed by MLS Grid
• 2022-06-18 Listing Removed — MRED as Distributed by MLS Grid
• 2021-07-02 Listing Removed — MRED as Distributed by MLS Grid
• 2011-03-21 Listing Removed — MRED as Distributed by MLS Grid
• 2004-10-23 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2024): $1,727 · +7.7% YoY. Source: county tax records.