54 Ohio Dr

Decatur, IL 62526

$141,500D-

3 bd · 2.5 ba · 1,488 sqft · Built 1955 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,308/mo
• Mortgage (P&I): −$742
• Tax + insurance: −$240
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $51/mo
• Annual: $618/yr
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• 1% rule: 0.92%
• Cash to close: $39,620

Investor read

• This is a 3-bed/2.5-bath single-family listed at $142k.
• At list price, monthly cash flow is $51 ($618/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (7.6% below list).
• It's been on market 19 days — a 2% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (7.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.2%/yr); year-one equity from $978 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 136 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• Macon County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• This rent runs 32% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.
• 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.