2124 Home Park Ave · Decatur, IL 62526

$140,500

4 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 222 Days on market

Built 1965 9,148 sqft lot $130/sqft · 62% above area Est $173k · 19% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +10.4/30.0
• 1% rule +4.9/10.0
• Appreciation +3.9/10.0
• DSCR +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0

Listing remarks MLS

Home sweet home! What better spot to say "we're home" than Home Park!? This 4 bed 2 bath home features a huge dining room, 4 big bedrooms, space for an office and a fenced yard! Near the west side of Decatur in an established neighborhood. Get in to see this one before it's too late!

Key facts

• Fenced yard
• Huge dining room
• 9,148 sq ft lot

Tags

• HUGE DINING ROOM
• FENCED YARD
• ESTABLISHED NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-75 ($-897/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (1.3% below list).
• Recommended offer: $124k (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: 135 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $971 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 222 days — a 12% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $123,640 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 222 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
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 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: 0.99% ✗
• Cap rate: 5.65%
• Cash-on-cash: -2.28%
• DSCR: 0.90
• GRM: 8.4

CMA / ARV

• ARV (median comp): $172,593
• List price: $140,500
• Delta: -18.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2125 Clearmont Ave	0.24mi	3/1.5 (-1)	1,083 (+0%)	6mo	$65,000	$60	76
2451 W Olive St	0.36mi	3/1.0 (-1)	1,087 (+1%)	1mo	$143,500	$132	72
2227 Yorkshire Dr	0.21mi	3/2.0 (-1)	1,004 (-7%)	9mo	$131,000	$130	66
1696 W Evandale Dr	0.29mi	3/1.0 (-1)	1,040 (-4%)	10mo	$139,000	$134	63
1680 Home Park Ave	0.18mi	3/1.0 (-1)	1,239 (+15%)	3mo	$97,500	$79	55
2315 W Hunt St	0.37mi	3/1.0 (-1)	1,008 (-7%)	11mo	$93,000	$92	54
2192 Waggoner St	0.56mi	3/1.0 (-1)	1,140 (+6%)	8mo	$92,500	$81	49
2318 W Hunt St	0.35mi	3/1.0 (-1)	1,200 (+11%)	9mo	$88,000	$73	48
2094 N Dennis Ave	0.44mi	3/1.0 (-1)	950 (-12%)	5mo	$52,000	$55	46
1583 N Dennis Ave	0.57mi	3/1.0 (-1)	1,016 (-6%)	11mo	$12,100	$12	46
1675 W Center St	0.68mi	3/1.0 (-1)	1,025 (-5%)	8mo	$96,000	$94	44
1645 W Center St	0.71mi	3/1.0 (-1)	925 (-14%)	6mo	$55,000	$59	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -15.0%
• Equity multiple: 0.42×
• Total profit: $-22,712
• Equity at exit: $25,918

10-year hold

• IRR: -7.3%
• Equity multiple: 0.46×
• Total profit: $-21,204
• Equity at exit: $20,858

Cash invested: $39,340 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,386 medium
• Mortgage (P&I): −$737
• Tax from tax record: −$375 /mo · $4,496/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $-75

Break-even live

Break-even rent $1,481

Max offer price $127,299

Occupancy floor —

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: $35,125
• Closing costs: $4,215
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1345 N Fairview Ave Decatur, IL	3.0	1.0	785	$985	$1.25	44d	1	0.93mi
644 W Division St Decatur, IL	3.0	2.0	1365	$1,200	$0.88	44d	1	1.48mi

Listing history 29 events

1. 2026-06-19
   days on market $140,500 Active 222 DOM
2. 2026-06-18
   days on market $140,500 Active 221 DOM
3. 2026-06-17
   days on market $140,500 Active 220 DOM
4. 2026-06-16
   days on market $140,500 Active 219 DOM
5. 2026-06-15
   days on market $140,500 Active 218 DOM
6. 2026-06-14
   days on market $140,500 Active 216 DOM
7. 2026-06-13
   days on market $140,500 Active 215 DOM
8. 2026-06-10
   days on market $140,500 Active 213 DOM
9. 2026-06-09
   days on market $140,500 Active 212 DOM
10. 2026-06-08
    days on market $140,500 Active 211 DOM
11. 2026-06-07
    days on market $140,500 Active 210 DOM
12. 2026-06-05
    days on market $140,500 Active 207 DOM
13. 2026-06-02
    days on market $140,500 Active 205 DOM
14. 2026-06-01
    days on market $140,500 Active 204 DOM
15. 2026-05-31
    days on market $140,500 Active 203 DOM
16. 2026-05-30
    days on market $140,500 Active 202 DOM
17. 2026-05-04
    price $140,500 294-char remark

    Show marketing remark (294 chars)

    Home sweet home! What better spot to say "we're home" than Home Park!? This 4 bed 2 bath home features a huge dining room, 4 big bedrooms, space for an office and a fenced yard! Near the west side of Decatur in an established neighborhood. Get in to see this one before it's too late!

18. 2026-04-10
    price $141,500 294-char remark

    Show marketing remark (294 chars)

    Home sweet home! What better spot to say "we're home" than Home Park!? This 4 bed 2 bath home features a huge dining room, 4 big bedrooms, space for an office and a fenced yard! Near the west side of Decatur in an established neighborhood. Get in to see this one before it's too late!

19. 2026-03-10
    price $142,900 294-char remark

    Show marketing remark (294 chars)

    Home sweet home! What better spot to say "we're home" than Home Park!? This 4 bed 2 bath home features a huge dining room, 4 big bedrooms, space for an office and a fenced yard! Near the west side of Decatur in an established neighborhood. Get in to see this one before it's too late!

20. 2026-02-16
    price $144,999 294-char remark

    Show marketing remark (294 chars)

    Home sweet home! What better spot to say "we're home" than Home Park!? This 4 bed 2 bath home features a huge dining room, 4 big bedrooms, space for an office and a fenced yard! Near the west side of Decatur in an established neighborhood. Get in to see this one before it's too late!

21. 2026-01-27
    price $145,000 294-char remark

    Show marketing remark (294 chars)

    Home sweet home! What better spot to say "we're home" than Home Park!? This 4 bed 2 bath home features a huge dining room, 4 big bedrooms, space for an office and a fenced yard! Near the west side of Decatur in an established neighborhood. Get in to see this one before it's too late!

22. 2026-01-12
    price $147,000 294-char remark

    Show marketing remark (294 chars)

    Home sweet home! What better spot to say "we're home" than Home Park!? This 4 bed 2 bath home features a huge dining room, 4 big bedrooms, space for an office and a fenced yard! Near the west side of Decatur in an established neighborhood. Get in to see this one before it's too late!

23. 2025-11-17
    price $148,900 294-char remark

    Show marketing remark (294 chars)

    Home sweet home! What better spot to say "we're home" than Home Park!? This 4 bed 2 bath home features a huge dining room, 4 big bedrooms, space for an office and a fenced yard! Near the west side of Decatur in an established neighborhood. Get in to see this one before it's too late!

24. 2025-11-08
    listed $154,000 Active 294-char remark

    Show marketing remark (294 chars)

    Home sweet home! What better spot to say "we're home" than Home Park!? This 4 bed 2 bath home features a huge dining room, 4 big bedrooms, space for an office and a fenced yard! Near the west side of Decatur in an established neighborhood. Get in to see this one before it's too late!

25. 2022-11-14
    soldstatus $139,000
26. 2022-11-11
    soldstatus $138,900 755-char remark

    Show marketing remark (755 chars)

    Beautiful and well maintained 4 bed/2 bath home, located in Home Park. Spacious 1.5 car attached garage w. tons of storage. This seller has completely re-insulated this home top to bottom, tons of updates throughout- such as new flooring, new paint. Sellers just built a brand new deck and sliding door on the back of the home and comes with fenced in backyard. Roof is 6 years of age, furnace and AC unit, less than 6 years of age. The upstairs bathroom just had a completely new remodel. New shower tub and tile, vanity, flooring, fixtures, and plumbing. Each bedroom has new carpet ready for the next family. Even more space with a bonus room, extra storage, and laundry room. Bonus room could be an office room, etc. Call an agent for a showing today!

27. 2022-11-11
    soldstatus $138,900 Closed

    Show marketing remark (755 chars)

    Beautiful and well maintained 4 bed/2 bath home, located in Home Park. Spacious 1.5 car attached garage w. tons of storage. This seller has completely re-insulated this home top to bottom, tons of updates throughout- such as new flooring, new paint. Sellers just built a brand new deck and sliding door on the back of the home and comes with fenced in backyard. Roof is 6 years of age, furnace and AC unit, less than 6 years of age. The upstairs bathroom just had a completely new remodel. New shower tub and tile, vanity, flooring, fixtures, and plumbing. Each bedroom has new carpet ready for the next family. Even more space with a bonus room, extra storage, and laundry room. Bonus room could be an office room, etc. Call an agent for a showing today!

28. 2022-09-01
    listed $138,900 755-char remark

    Show marketing remark (755 chars)

    Beautiful and well maintained 4 bed/2 bath home, located in Home Park. Spacious 1.5 car attached garage w. tons of storage. This seller has completely re-insulated this home top to bottom, tons of updates throughout- such as new flooring, new paint. Sellers just built a brand new deck and sliding door on the back of the home and comes with fenced in backyard. Roof is 6 years of age, furnace and AC unit, less than 6 years of age. The upstairs bathroom just had a completely new remodel. New shower tub and tile, vanity, flooring, fixtures, and plumbing. Each bedroom has new carpet ready for the next family. Even more space with a bonus room, extra storage, and laundry room. Bonus room could be an office room, etc. Call an agent for a showing today!

29. 2022-09-01
    listed $138,900

    Show marketing remark (755 chars)

    Beautiful and well maintained 4 bed/2 bath home, located in Home Park. Spacious 1.5 car attached garage w. tons of storage. This seller has completely re-insulated this home top to bottom, tons of updates throughout- such as new flooring, new paint. Sellers just built a brand new deck and sliding door on the back of the home and comes with fenced in backyard. Roof is 6 years of age, furnace and AC unit, less than 6 years of age. The upstairs bathroom just had a completely new remodel. New shower tub and tile, vanity, flooring, fixtures, and plumbing. Each bedroom has new carpet ready for the next family. Even more space with a bonus room, extra storage, and laundry room. Bonus room could be an office room, etc. Call an agent for a showing today!

ⓘ 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: $4,496 · $375/mo
• Projected year-2 tax: $4,496 · $375/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $16,637
• − Mortgage interest: −$7,870
• − Property taxes: −$4,496
• − Insurance: −$702
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$4,087
• Taxable loss: −$3,181
• Est. tax savings @ 24.0%: +$763
• After-tax cash flow: $-133/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

+1.2% since first listed

13 events — show timeline

• 2026-05-04 Price Changed $140,500 CIBR
• 2026-04-10 Price Changed $141,500 CIBR
• 2026-03-10 Price Changed $142,900 CIBR
• 2026-02-16 Price Changed $144,999 CIBR
• 2026-01-27 Price Changed $145,000 CIBR
• 2026-01-12 Price Changed $147,000 CIBR
• 2025-11-17 Price Changed $148,900 CIBR
• 2025-11-08 Listed $154,000 CIBR
• 2022-11-14 Sold (Public Records) $139,000 Public Records
• 2022-11-11 Sold (MLS) $138,900 CIBR
• 2022-11-11 Sold (MLS) $138,900 MRED as Distributed by MLS Grid
• 2022-09-01 Listed $138,900 CIBR
• 2022-09-01 Listed $138,900 MRED as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2024): $4,496 · +1.3% YoY. Source: county tax records.