1702 N Summit Ave · Decatur, IL 62526

$99,900

2 bd · 1.0 ba · 1,166 sqft · Other public records · 21 Days on market

Built 1947 0.46 ac lot

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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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Appreciation +3.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0

Listing remarks

When thinking just 2 bedrooms one bathroom, this house is still huge and extraordinarily beautiful and large!!! It is sooooo gorgeous inside and large with a living room, dining room and family room, awesome. The most important issues, the roofs on the house and the 2.5 awesome garage are 4 years old. The Furnace, water heater, AC unit, all wiring throughout the house and the plumbing lines throughout the house are immediately brand new. .. awesome like a brand new house :). This place is large, gorgeous, perfect and all brand new, including the 2.5 garage, and you have a large good yard :). So for everything being perfect, the price is actually low, not high, lol.

Key facts

• 0.46 acre lot
• 2 garage spots
• Built 1947

Property features AI

Finance

• Other: Zoning: MUN; Subdivision: Oak Grove 2nd Add

Exterior

• Parking: Detached garage; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; One-level / single-story home; Residential property
• Construction: Aluminum siding; Slab foundation; Asphalt/fiberglass shingle roof; Built as a single-story structure
• Exterior features: Deck; Concrete and gravel road access; Private maintained road and private road frontage

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Gas water heater; Oven; Range; Refrigerator
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 7.0% in Decatur — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 9 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).

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $691 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1947 — 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: 1.07% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.68%
• DSCR: 1.39
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $3
• Equity at exit: $18,429

10-year hold

• IRR: 8.3%
• Equity multiple: 1.70×
• Total profit: $19,472
• Equity at exit: $14,831

Cash invested: $27,972 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$524
• Tax from tax record: −$80 /mo · $961/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $202

Break-even live

Break-even rent $817

Max offer price $99,900

Occupancy floor 76%

Sensitivity live

Price	-10% $259	-5% $231	+0% $202	+5% $174	+10% $146
Rent	-10% $117	-5% $160	+0% $202	+5% $245	+10% $287
Rate	-1.0pp $253	-0.5pp $228	base $202	+0.5pp $176	+1.0pp $150

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1090 N Oakcrest Ave Decatur, IL	2.0	1.0	1344	$1,100	$0.82	45d	1	0.47mi
1345 N Fairview Ave Decatur, IL	3.0	1.0	785	$985	$1.25	45d	1	0.55mi
1311 N Walnut Grove Ave Decatur, IL	2.0	1.0	781	$1,100	$1.41	45d	1	0.92mi
644 W Division St Decatur, IL	3.0	2.0	1365	$1,200	$0.88	45d	1	1.19mi
2148 N Graceland Ave Decatur, IL	2.0	1.0	864	$1,195	$1.38	45d	1	1.22mi
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	45d	1	1.32mi
117 S Elder Ln Apt 9 Decatur, IL	2.0	1.0	857	$950	$1.11	45d	1	1.37mi
853 N College St Decatur, IL	2.0	1.0	936	$925	$0.99	45d	1	1.47mi
1908 N Union St Decatur, IL	2.0	1.0	704	$899	$1.28	45d	1	1.50mi

Listing history 3 events

1. 2026-05-15
   status Pending
2. 2026-04-30
   historical Active Under Contract
3. 2026-04-24
   listed $99,900 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: $961 · $80/mo
• Projected year-2 tax: $1,615 · $135/mo
• Expected delta: +$653/yr (+$54/mo · 67.9%)

ⓘ 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 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: $12,879
• − Mortgage interest: −$5,596
• − Property taxes: −$961
• − Insurance: −$500
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$2,906
• Taxable income: $855
• Est. tax owed @ 24.0%: −$205
• After-tax cash flow: $2,222/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

3 events — show timeline

• 2026-05-15 Pending — CIBR
• 2026-04-30 Contingent — CIBR
• 2026-04-24 Listed $99,900 CIBR

Property tax history

+20.2%/yr

Latest (2024): $961 · +0.8% YoY. Source: county tax records.