555 W Main St · Decatur, IL 62522

$149,900

None bd · None ba · — sqft · MultiFamily · 190 Days on market

Built 1897 Fair condition 7,700 sqft lot Est $108k · 39% 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
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +0.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This is a fantastic opportunity to expand your portfolio! This property offers 3 fully occupied units that comes with all appliances. Updates include: Roof replaced in 2012, electric rewired with 200 amp service 2015, 2nd/3rd floor HVAC system replaced 2015, main floor & addition furnace replaced 2023. Property has 1 gas meter, 1 water meter, and a detached garage with an overhead door operator. Unit 551: built-on addition w/ 1 bed/ 1 bath & additional bedroom in basement. Approximately 800 square feet. Unit 555: Main floor - 2 beds/1 bath. Approximately 1,200 square feet. Unit 553: 2nd & 3rd floor - 3 beds/2 bath with its own washer/dryer. Approximately 2,000 square feet. Units 551 & 555 share washer/dryer kept in basement. * Photos taken prior to occupancy, more photos to come soon! Average monthly power/gas bill: $500 Average water bill: $200 Trash: $30 Mowing (during spring/summer months): $100

Key facts

• Furnace replaced
• Hvac system replaced
• Electric rewired

Tags

• ROOF REPLACED
• ELECTRIC REWIRED
• HVAC SYSTEM REPLACED
• FURNACE REPLACED
• DETACHED GARAGE
• OVERHEAD DOOR OPERATOR

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 1×2bd/1ba + 1×3bd/2ba units multifamily listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $412/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.2% 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: 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; 36 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 94% of comp listings sitting > 30 days — soft ceiling on asking rent; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• At $2,877/mo this rent would consume 68% of the median local household income ($51k/yr) (locally 321% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.92% ✓
• Cap rate: 16.19%
• Cash-on-cash: 35.36%
• DSCR: 2.57
• GRM: 4.3

CMA / ARV

• ARV (median comp): $107,957
• List price: $149,900
• Delta: 38.85%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
540 W Main St	0.03mi	—/—	—	9mo	$375,000	—	78
450 Macon St	0.14mi	—/—	1,500	6mo	$249,900	$167	76
646 Macon St	0.14mi	—/—	2,556	9mo	$67,900	$27	73
554 & 562 W Main St	0.03mi	—/—	—	16mo	$433,600	—	73
422 W William St	0.21mi	—/—	3,520	7mo	$312,900	$89	72
703 W William St	0.18mi	—/—	2,560	14mo	$110,000	$43	67
548 W Macon St	0.11mi	—/—	1,784	20mo	$96,900	$54	65

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: 31.0%
• Equity multiple: 2.30×
• Total profit: $54,532
• Equity at exit: $22,351

10-year hold

• IRR: 38.2%
• Equity multiple: 4.55×
• Total profit: $149,103
• Equity at exit: $12,961

Cash invested: $41,972 (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 62522

• Home prices YoY: -16.9%
• Active inventory: 75
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,877 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $1,237

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 52%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	1	1	$900
1× unit	2	1	$948
1× unit	3	2	$1,028
Total (3 units)			$2,877

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
603 W William St Unit 1 Decatur, IL	2.0	1.0	—	$1,100	—	43d	1	0.16mi
735 W William St Decatur, IL	1.0	1.0	—	$700	—	43d	1	0.20mi
150 W Wood St Decatur, IL	1.0	1.0	1228	$1,100	$0.90	43d	1	0.34mi
135 E Prairie Ave Decatur, IL	1.0	1.0	—	$1,650	—	43d	1	0.43mi
520 S Church St Decatur, IL	3.0	1.5	1250	$1,199	$0.96	13d	1	0.44mi
853 N College St Decatur, IL	2.0	1.0	936	$925	$0.99	43d	1	0.58mi
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	43d	1	0.75mi
1305 W Macon St Decatur, IL	1.0	1.0	—	$540	—	43d	1	0.78mi
1035 S Main St Decatur, IL	2.0	1.0	847	$880	$1.04	13d	7	0.83mi
1058 N Main St Unit 1 Decatur, IL	1.0	1.0	—	$725	—	43d	1	0.84mi
1204 N Church St Decatur, IL	2.0	1.0	—	$1,100	—	43d	1	0.93mi
1245 N Union St Decatur, IL	3.0	2.0	1111	$995	$0.90	43d	1	0.94mi
1441 W Macon St Apt 3 Decatur, IL	1.0	1.0	—	$575	—	43d	1	0.95mi
759 E Lawrence St Decatur, IL	3.0	1.0	1080	$695	$0.64	43d	1	0.96mi
803 E Whitmer St Decatur, IL	3.0	1.0	900	$935	$1.04	43d	1	1.00mi
1311 N Walnut Grove Ave Decatur, IL	2.0	1.0	781	$1,100	$1.41	43d	1	1.04mi
105 N Illinois St Decatur, IL	3.0	1.0	—	$799	—	43d	1	1.13mi
1527 N Main St Unit 1 Decatur, IL	1.0	1.0	—	$740	—	43d	1	1.16mi
830 E Rogers Ave Decatur, IL	3.0	2.0	—	$795	—	43d	1	1.19mi
644 W Division St Decatur, IL	3.0	2.0	1365	$1,200	$0.88	43d	1	1.24mi
1017 N Taylor Ave Decatur, IL	2.0	1.0	—	$790	—	43d	1	1.25mi
1345 N Fairview Ave Decatur, IL	3.0	1.0	785	$985	$1.25	43d	1	1.26mi
1237 E Johns Ave Decatur, IL	2.0	1.0	1000	$895	$0.90	43d	1	1.26mi
1245 Sedgwick St Decatur, IL	2.0	1.0	1055	$895	$0.85	43d	1	1.28mi
1304 E Lawrence St Decatur, IL	2.0	1.0	850	$850	$1.00	43d	1	1.31mi
925 W Olive St Decatur, IL	1.0	1.0	—	$650	—	43d	1	1.34mi
1305 E Whitmer St Decatur, IL	2.0	1.0	—	$800	—	43d	1	1.35mi
347 N Stone St Decatur, IL	2.0	1.0	850	$875	$1.03	43d	1	1.36mi
698 S Stone St Decatur, IL	2.0	1.0	900	$795	$0.88	43d	1	1.40mi
165 S East Ave Unit NA Decatur, IL	2.0	1.0	850	$800	$0.94	43d	1	1.41mi
254 W Peoria Ave Decatur, IL	2.0	1.0	—	$820	—	43d	1	1.42mi
1908 N Union St Decatur, IL	2.0	1.0	704	$899	$1.28	43d	1	1.42mi
1524 E Prairie St Decatur, IL	3.0	1.0	1400	$1,250	$0.89	43d	1	1.44mi
1455 E Whitmer St Decatur, IL	2.0	1.0	1050	$915	$0.87	43d	1	1.45mi
1700 W Grand Ave Unit NA Decatur, IL	1.0	1.0	418	$575	$1.38	43d	1	1.46mi
51 7th Dr Unit NA Decatur, IL	3.0	1.5	8900	$1,400	$0.16	43d	1	1.48mi

Listing history 17 events

1. 2026-06-19
   days on market $149,900 Active 190 DOM
2. 2026-06-18
   days on market $149,900 Active 189 DOM
3. 2026-06-17
   days on market $149,900 Active 188 DOM
4. 2026-06-16
   days on market $149,900 Active 187 DOM
5. 2026-06-15
   days on market $149,900 Active 186 DOM
6. 2026-06-14
   days on market $149,900 Active 184 DOM
7. 2026-06-13
   days on market $149,900 Active 183 DOM
8. 2026-06-10
   days on market $149,900 Active 181 DOM
9. 2026-06-09
   days on market $149,900 Active 180 DOM
10. 2026-06-08
    days on market $149,900 Active 179 DOM
11. 2026-06-07
    days on market $149,900 Active 178 DOM
12. 2026-06-05
    days on market $149,900 Active 175 DOM
13. 2026-06-02
    days on market $149,900 Active 173 DOM
14. 2026-06-01
    days on market $149,900 Active 172 DOM
15. 2026-05-31
    days on market $149,900 Active 171 DOM
16. 2026-05-30
    days on market $149,900 Active 170 DOM
17. 2025-12-11
    listed $149,900 Active 941-char remark

    Show marketing remark (941 chars)

    This is a fantastic opportunity to expand your portfolio! This property offers 3 fully occupied units that comes with all appliances. Updates include: Roof replaced in 2012, electric rewired with 200 amp service 2015, 2nd/3rd floor HVAC system replaced 2015, main floor & addition furnace replaced 2023. Property has 1 gas meter, 1 water meter, and a detached garage with an overhead door operator. Unit 551: built-on addition w/ 1 bed/ 1 bath & additional bedroom in basement. Approximately 800 square feet. Unit 555: Main floor - 2 beds/1 bath. Approximately 1,200 square feet. Unit 553: 2nd & 3rd floor - 3 beds/2 bath with its own washer/dryer. Approximately 2,000 square feet. Units 551 & 555 share washer/dryer kept in basement. * Photos taken prior to occupancy, more photos to come soon! Average monthly power/gas bill: $500 Average water bill: $200 Trash: $30 Mowing (during spring/summer months): $100

ⓘ 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 ≥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: $34,524
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$2,762
• − Management: −$2,762
• − Depreciation: −$4,361
• Taxable income: $13,245
• Est. tax owed @ 24.0%: −$3,179
• After-tax cash flow: $11,664/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs to exterior siding and paint, but is otherwise in good condition. Upgrades to the exterior will significantly enhance its curb appeal and value.

Repairs flagged

• Major Exterior siding — Signs of damage and weathering
• Major Exterior paint — Peeling and chipping

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace exterior siding — Improves home's appearance and value
• Both Replace exterior paint — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Signs of damage and weathering	Major	$15,000–50,000
Exterior paint · Peeling and chipping	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace exterior siding — Improves home's appearance and value ↑
• Both Replace exterior paint — Enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2025-12-11 Listed $149,900 CIBR