899 W Main St · Decatur, IL 62522

$85,000

None bd · 2.5 ba · 1,053 sqft · Other public records · 304 Days on market

Built 1938 6,000 sqft lot Est $108k · 21% 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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +6.7/10.0
• 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

All-brick multi-family property is located just minutes from downtown Decatur, offering a prime investment opportunity with steady cash flow. The building features three fully-leased units: two one-bedroom apartments upstairs and a spacious two-bedroom unit on the main floor. With all units currently rented and a low-maintenance exterior, this property is a turnkey income generator. Ideal for investors looking for immediate returns and long-term growth potential!

Key facts

• Fully-leased units
• 6,000 sq ft lot
• Built 1938

Tags

• MULTI-FAMILY PROPERTY
• PRIME INVESTMENT OPPORTUNITY
• FULLY-LEASED UNITS
• LOW-MAINTENANCE EXTERIOR
• TURNKEY INCOME GENERATOR

What this means for you Summary

Snapshot

• This is a ?-bed/2.5-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($998 rent vs $85k).
• Recommended offer: $75k (12.0% 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: 75 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 85% 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 (-3.0%/yr); year-one equity from $588 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 304 days — a 12% lower offer ($75k) 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: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 304 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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: 1.17% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 7.1

CMA / ARV

• ARV (median comp): $107,957
• List price: $85,000
• Delta: -21.27%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.8%
• Equity multiple: 0.78×
• Total profit: $-5,168
• Equity at exit: $12,674

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $6,736
• Equity at exit: $7,349

Cash invested: $23,800 (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 62522

• Home prices YoY: -16.9%
• Active inventory: 75
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $998 high
• Mortgage (P&I): −$446
• Tax from tax record: −$173 /mo · $2,079/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $134

Break-even live

Break-even rent $828

Max offer price $85,000

Occupancy floor 82%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 W Wood St Decatur, IL	1.0	1.0	1228	$1,100	$0.90	44d	1	0.60mi
853 N College St Decatur, IL	2.0	1.0	936	$925	$0.99	44d	1	0.65mi
520 S Church St Decatur, IL	3.0	1.5	1250	$1,199	$0.96	13d	1	0.67mi
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	44d	1	0.78mi
1311 N Walnut Grove Ave Decatur, IL	2.0	1.0	781	$1,100	$1.41	44d	1	0.97mi
1035 S Main St Decatur, IL	2.0	1.0	847	$880	$1.04	13d	7	0.99mi
1245 N Union St Decatur, IL	3.0	2.0	1111	$995	$0.90	44d	1	1.02mi
1345 N Fairview Ave Decatur, IL	3.0	1.0	785	$985	$1.25	44d	1	1.11mi
759 E Lawrence St Decatur, IL	3.0	1.0	1080	$695	$0.64	44d	1	1.21mi
803 E Whitmer St Decatur, IL	3.0	1.0	900	$935	$1.04	44d	1	1.24mi
644 W Division St Decatur, IL	3.0	2.0	1365	$1,200	$0.88	44d	1	1.25mi
1090 N Oakcrest Ave Decatur, IL	2.0	1.0	1344	$1,100	$0.82	44d	1	1.31mi
1908 N Union St Decatur, IL	2.0	1.0	704	$899	$1.28	44d	1	1.49mi

Listing history 21 events

1. 2026-06-19
   days on market $85,000 Active 304 DOM
2. 2026-06-18
   days on market $85,000 Active 303 DOM
3. 2026-06-17
   days on market $85,000 Active 302 DOM
4. 2026-06-16
   days on market $85,000 Active 301 DOM
5. 2026-06-15
   days on market $85,000 Active 300 DOM
6. 2026-06-14
   days on market $85,000 Active 298 DOM
7. 2026-06-13
   days on market $85,000 Active 297 DOM
8. 2026-06-10
   days on market $85,000 Active 295 DOM
9. 2026-06-09
   days on market $85,000 Active 294 DOM
10. 2026-06-08
    days on market $85,000 Active 293 DOM
11. 2026-06-07
    days on market $85,000 Active 292 DOM
12. 2026-06-05
    days on market $85,000 Active 289 DOM
13. 2026-06-02
    days on market $85,000 Active 287 DOM
14. 2026-06-01
    days on market $85,000 Active 286 DOM
15. 2026-05-31
    days on market $85,000 Active 285 DOM
16. 2026-05-30
    days on market $85,000 Active 284 DOM
17. 2025-08-19
    listed $85,000 Active 467-char remark

    Show marketing remark (467 chars)

    All-brick multi-family property is located just minutes from downtown Decatur, offering a prime investment opportunity with steady cash flow. The building features three fully-leased units: two one-bedroom apartments upstairs and a spacious two-bedroom unit on the main floor. With all units currently rented and a low-maintenance exterior, this property is a turnkey income generator. Ideal for investors looking for immediate returns and long-term growth potential!

18. 2025-05-16
    price $89,900
19. 2025-03-10
    price $95,000
20. 2025-01-15
    listed $99,000 Active
21. 2023-10-12
    soldstatus $75,000

ⓘ 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: $2,079 · $173/mo
• Projected year-2 tax: $2,079 · $173/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $11,979
• − Mortgage interest: −$4,761
• − Property taxes: −$2,079
• − Insurance: −$425
• − Repairs & maintenance: −$958
• − Management: −$958
• − Depreciation: −$2,473
• Taxable income: $325
• Est. tax owed @ 24.0%: −$78
• After-tax cash flow: $1,533/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): 15,185
• Household income: $50,669
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 321.0

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: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Two or more races 7% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 1% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada, China, Jamaica
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -36.64%
• Current HPI: 180.7847
• 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

+13.3% since first listed

5 events — show timeline

• 2025-08-19 Listed $85,000 CIBR
• 2025-05-16 Price Changed $89,900 CIBR
• 2025-03-10 Price Changed $95,000 CIBR
• 2025-01-15 Listed $99,000 CIBR
• 2023-10-12 Sold (Public Records) $75,000 Public Records

Property tax history

+6.0%/yr

Latest (2024): $2,079 · +0.8% YoY. Source: county tax records.