423 E Mound Rd · Decatur, IL 62526

$60,000

3 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 1 Days on market

Built 1955 0.46 ac lot ↓ 30% since listing

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Why this score? — see what drove the B- 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
• ARV discount +7.5/15.0
• 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

Listing remarks

Investment opportunity! This 3-bedroom, 1-bath Decatur home is ready for its next owner. Includes a full basement, attached 2-car garage, and fenced-in backyard. Priced to sell — conveying as-is with all contents inside and out.

Key facts

• Full basement
• Fenced-in backyard
• 0.46 acre lot

Tags

• FULL BASEMENT
• FENCED-IN BACKYARD

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water and public sewer
• Home design: Single family residence; Not new construction
• Construction: Built in 1955
• Exterior features: Shingle roof; Level lot; Paved road access; Lot approximately 128' x 155'

Interior

• Kitchen: Kitchen area
• Bedrooms: 3 bedrooms (one on main level; others on upper, lower, basement or additional levels as listed)
• Flooring: Hardwood in one bedroom; Carpet in two bedrooms; Laminate in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas water heater (heating source noted)
• Interior features: Unfinished basement; Dryer, Washer
• Laundry & utility: Washer and dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 15.4% 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; 2 comparable units currently listed for rent nearby; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% 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 $415 of loan paydown is wiped out by about $1k 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.08% ✓
• Cap rate: 15.44%
• Cash-on-cash: 32.66%
• DSCR: 2.45
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $120,510
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 E Court Dr	0.07mi	3/2.0	1,200 (+3%)	5mo	$144,000	$120	84
38 E North Court Dr Unit E	0.17mi	2/1.0 (-1)	1,189 (+2%)	1mo	$105,000	$88	83
3454 N Christine Dr	0.38mi	3/1.0	1,206 (+3%)	7mo	$115,000	$95	71
204 Newcastle Dr	0.47mi	2/1.5 (-1)	1,184 (+1%)	6mo	$125,000	$106	64
3915 N Neely Ave	0.35mi	3/1.0	1,025 (-12%)	1mo	$69,500	$68	62
4057 Constant View Dr	0.39mi	2/1.0 (-1)	1,104 (-6%)	8mo	$110,000	$100	61
3914 Cambridge Dr	0.26mi	3/1.5	1,040 (-11%)	9mo	$128,500	$124	60
45 Ohio Dr	0.68mi	3/1.0	1,120 (-4%)	4mo	$115,000	$103	58
3931 Newcastle Dr	0.34mi	3/2.0	1,325 (+13%)	2mo	$137,500	$104	56
3829 Macarthur Rd	0.68mi	3/1.0	1,232 (+5%)	10mo	$82,000	$67	51
217 E Holiday Dr	0.63mi	3/1.5	1,296 (+11%)	4mo	$145,000	$112	47
68 Northland Dr	0.56mi	3/1.0	1,025 (-12%)	9mo	$65,000	$63	46

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: 29.4%
• Equity multiple: 2.28×
• Total profit: $21,484
• Equity at exit: $11,068

10-year hold

• IRR: 35.8%
• Equity multiple: 4.47×
• Total profit: $58,327
• Equity at exit: $8,908

Cash invested: $16,800 (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 62526

• Home prices YoY: -1.2%
• Active inventory: 135
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$188 /mo · $2,256/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $457

Break-even live

Break-even rent $668

Max offer price $60,000

Occupancy floor 58%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1350 E Wellington Way Unit 1330-3A Decatur, IL	2.0	1.0	858	$825	$0.96	44d	1	0.72mi
4145 N Camelot Dr Decatur, IL	4.0	1.5	1449	$1,400	$0.97	21d	1	1.13mi

Listing history 3 events

1. 2026-06-10
   status $60,000 Pending 1 DOM
2. 2026-06-09
   remarks 228-char remark
3. 2026-06-09
   listed $60,000 Active 1 DOM

ⓘ 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: $2,256 · $188/mo
• Projected year-2 tax: $2,256 · $188/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 ≥105°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: $14,961
• − Mortgage interest: −$3,361
• − Property taxes: −$2,256
• − Insurance: −$300
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$1,745
• Taxable income: $4,905
• Est. tax owed @ 24.0%: −$1,177
• After-tax cash flow: $4,310/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

-29.8% since first listed

2 events — show timeline

• 2026-06-08 Listed $60,000 RMLSA as Distributed by MLS Grid
• 2005-01-18 Sold (Public Records) $85,500 Public Records

Property tax history

+5.4%/yr

Latest (2024): $2,256 · +11.3% YoY. Source: county tax records.