1545 N Monroe St · Decatur, IL 62526

$40,000

3 bd · 1.0 ba · 780 sqft · Other public records · 35 Days on market

Built 1920 6,424 sqft lot $51/sqft · 159% above area Est $30k · 35% 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
• 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
• ARV discount +0.0/15.0

Listing remarks

This bungalow on a convenient street has great spaces throughout the home. The covered front porch is perfect for enjoying great weather days. The main floor invites you in with a nice living room, dining room, and kitchen. The second floor has three bedrooms and a full bathroom. The basement is a great opportunity to build equity and living space. Tenant occupied and being sold AS IS. Schedule your showing today!

Key facts

• Covered front porch
• Living space
• 6,424 sq ft lot

Tags

• COVERED FRONT PORCH
• LIVING SPACE

Property features AI

Finance

• Other: Property taxed (latest tax year 2023)
• Financial info: Property currently being leased
• HOA & community: No master association fees required

Exterior

• Parking: Detached garage (owned), concrete surface — 1 garage space / 1 total parking space
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story layout; Fee simple ownership; Built more than 100 years ago; Estimated living area
• Construction: Vinyl siding construction; Unfinished basement (780 sq ft); Main level approximately 780, upper level approximately 720
• Exterior features: Vinyl siding; Corner lot with approximate dimensions 44 x 146; Lot under 0.25 acre

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Three bedrooms (master and two additional bedrooms on second level)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Six total rooms; Unfinished full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.9% 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: 135 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 91% 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 $277 of loan paydown is wiped out by about $886 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 (-2.2% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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.
• Current owner paid $26k; list at $40k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.72% ✓
• Cap rate: 22.91%
• Cash-on-cash: 59.35%
• DSCR: 3.64
• GRM: 3.1

CMA / ARV

• ARV (median comp): $29,713
• List price: $40,000
• Delta: 34.62%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 58.9%
• Equity multiple: 3.69×
• Total profit: $30,163
• Equity at exit: $7,379

10-year hold

• IRR: 63.0%
• Equity multiple: 7.52×
• Total profit: $73,006
• Equity at exit: $5,938

Cash invested: $11,200 (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: 135
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,087 high
• Mortgage (P&I): −$210
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $554

Break-even live

Break-even rent $386

Max offer price $40,000

Occupancy floor 44%

Sensitivity live

Price	-10% $577	-5% $565	+0% $554	+5% $543	+10% $531
Rent	-10% $468	-5% $511	+0% $554	+5% $597	+10% $640
Rate	-1.0pp $574	-0.5pp $564	base $554	+0.5pp $544	+1.0pp $533

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1245 N Union St Decatur, IL	3.0	2.0	1111	$995	$0.90	44d	1	0.31mi
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	44d	1	0.36mi
1311 N Walnut Grove Ave Decatur, IL	2.0	1.0	781	$1,100	$1.41	44d	1	0.37mi
1908 N Union St Decatur, IL	2.0	1.0	704	$899	$1.28	44d	1	0.40mi
2148 N Graceland Ave Decatur, IL	2.0	1.0	864	$1,195	$1.38	44d	1	0.51mi
853 N College St Decatur, IL	2.0	1.0	936	$925	$0.99	44d	1	0.53mi
1345 N Fairview Ave Decatur, IL	3.0	1.0	785	$985	$1.25	44d	1	0.74mi
510 E Pierson Ave Decatur, IL	3.0	1.0	895	$1,200	$1.34	44d	1	0.97mi
927 E Harrison Ave Decatur, IL	2.0	1.0	720	$675	$0.94	21d	1	1.12mi
1091 N Oakcrest Ave Decatur, IL	2.0	1.0	672	$950	$1.41	44d	1	1.34mi
1729 N Woodford St Decatur, IL	2.0	1.0	728	$825	$1.13	44d	1	1.47mi

Listing history 27 events

1. 2026-06-19
   days on market $40,000 Active 35 DOM
2. 2026-06-18
   days on market $40,000 Active 34 DOM
3. 2026-06-17
   days on market $40,000 Active 33 DOM
4. 2026-06-16
   days on market $40,000 Active 32 DOM
5. 2026-06-15
   days on market $40,000 Active 31 DOM
6. 2026-06-14
   days on market $40,000 Active 29 DOM
7. 2026-06-13
   days on market $40,000 Active 28 DOM
8. 2026-06-10
   days on market $40,000 Active 26 DOM
9. 2026-06-09
   days on market $40,000 Active 25 DOM
10. 2026-06-08
    days on market $40,000 Active 24 DOM
11. 2026-06-07
    days on market $40,000 Active 23 DOM
12. 2026-06-05
    days on market $40,000 Active 20 DOM
13. 2026-06-02
    days on market $40,000 Active 18 DOM
14. 2026-06-01
    days on market $40,000 Active 17 DOM
15. 2026-05-31
    days on market $40,000 Active 16 DOM
16. 2026-05-30
    days on market $40,000 Active 15 DOM
17. 2026-05-15
    listed $40,000 Active 423-char remark
18. 2026-02-28
    historical
19. 2025-04-10
    listed Active
20. 2025-04-04
    historical
21. 2025-03-07
    listed Active
22. 2025-03-07
    listed $60,000 Active
23. 2022-02-18
    soldstatus $26,000
24. 2022-02-18
    soldstatus $26,000
25. 2021-06-22
    listed $32,500
26. 2021-06-22
    listed $32,500
27. 2013-01-14
    historical

ⓘ 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: $939 · $78/mo
• Projected year-2 tax: $939 · $78/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 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: $13,042
• − Mortgage interest: −$2,241
• − Property taxes: −$939
• − Insurance: −$200
• − Repairs & maintenance: −$1,043
• − Management: −$1,043
• − Depreciation: −$1,164
• Taxable income: $6,412
• Est. tax owed @ 24.0%: −$1,539
• After-tax cash flow: $5,108/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

+23.1% since first listed

11 events — show timeline

• 2026-05-15 Listed $40,000 MRED as Distributed by MLS Grid
• 2026-02-28 Listing Removed — MRED as Distributed by MLS Grid
• 2025-04-10 Listed — MRED as Distributed by MLS Grid
• 2025-04-04 Listing Removed — MRED as Distributed by MLS Grid
• 2025-03-07 Listed — MRED as Distributed by MLS Grid
• 2025-03-07 Listed $60,000 CIBR
• 2022-02-18 Sold (MLS) $26,000 MRED as Distributed by MLS Grid
• 2022-02-18 Sold (MLS) $26,000 CIBR
• 2021-06-22 Listed $32,500 MRED as Distributed by MLS Grid
• 2021-06-22 Listed $32,500 CIBR
• 2013-01-14 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2024): $939 · +0.8% YoY. Source: county tax records.