1162 W King St · Decatur, IL 62522

$50,000

4 bd · 1.0 ba · 952 sqft · SingleFamily public records · 14 Days on market

Built 1923 5,243 sqft lot Est $70k · 29% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Located minutes from Fairview Park & Millikin University, this three-bedroom bungalow would make a perfect starter-home or investment opportunity! With a possible fourth bedroom upstairs, the potential is endless. For easy accessibility, the front porch has a ramp. When you walk in, you are greeted with wood floors and an open living space. Full of character, there are nice built-ins in the hallway. The house is very charming, with over 1,200sq ft of living space, and a full basement. Complete with a one-car detached garage and shed out back, this house checks all your boxes. Call your agent today!

Key facts

• Front porch ramp
• Wood floors
• Built-ins in hallway

Tags

• FRONT PORCH RAMP
• WOOD FLOORS
• OPEN LIVING SPACE
• BUILT-INS IN HALLWAY
• FULL BASEMENT
• ONE-CAR DETACHED GARAGE

Property features AI

Finance

• Other: Gravel road access

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two-story; Residential property; R-3 zoning
• Construction: Brick and vinyl siding construction; Asphalt roof
• Exterior features: Front porch; Shed(s)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 7 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Gas water heater; Unfinished full basement
• Laundry & utility: Washer/dryer hookups not specified

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 19.9% 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: 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: Franklin Grove Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 458 students, 0% FRL); Stephen Decatur Middle School (math 0% / reading 5%, grade F, #658 of 665 statewide, top 99%, 459 students, 0% FRL); Macarthur High School (math 6% / reading 12%, grade F, #580 of 693 statewide, top 84%, 1,105 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.
• Market conditions: 75 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.26% ✓
• Cap rate: 19.85%
• Cash-on-cash: 48.42%
• DSCR: 3.15
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $70,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1368 W Marietta St	0.27mi	3/1.0 (-1)	1,052 (+10%)	1mo	$82,000	$78	64
963 N University Ave	0.08mi	3/1.0 (-1)	1,078 (+13%)	11mo	$40,000	$37	60
1319 W Waggoner St	0.45mi	3/1.0 (-1)	1,014 (+6%)	5mo	$82,400	$81	59
1521 W Center St	0.57mi	3/1.0 (-1)	952 (0%)	13mo	$71,900	$76	58
1356 Huron St	0.66mi	3/1.0 (-1)	936 (-2%)	5mo	$31,500	$34	57
1504 University Ave	0.57mi	3/1.0 (-1)	960 (+1%)	13mo	$67,000	$70	56
1645 W Center St	0.63mi	3/1.0 (-1)	925 (-3%)	6mo	$55,000	$59	56
1451 W Marietta St	0.35mi	3/1.0 (-1)	1,067 (+12%)	6mo	$96,500	$90	53
1415 W Waggoner St	0.47mi	3/1.0 (-1)	876 (-8%)	8mo	$65,000	$74	53
1628 N Oakland Ave	0.65mi	3/1.0 (-1)	912 (-4%)	11mo	$29,500	$32	48
1675 W Center St	0.65mi	3/1.0 (-1)	1,025 (+8%)	8mo	$96,000	$94	45
1445 Dennis Ave	0.69mi	3/1.0 (-1)	824 (-13%)	11mo	$30,000	$36	31

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: 45.9%
• Equity multiple: 2.99×
• Total profit: $27,882
• Equity at exit: $7,455

10-year hold

• IRR: 51.7%
• Equity multiple: 6.05×
• Total profit: $70,634
• Equity at exit: $4,323

Cash invested: $14,000 (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: 3.7×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $565

Break-even live

Break-even rent $416

Max offer price $50,000

Occupancy floor 45%

Sensitivity live

Price	-10% $593	-5% $579	+0% $565	+5% $551	+10% $537
Rent	-10% $476	-5% $520	+0% $565	+5% $610	+10% $654
Rate	-1.0pp $590	-0.5pp $578	base $565	+0.5pp $552	+1.0pp $539

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.47mi
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	44d	1	0.57mi
1245 N Union St Decatur, IL	3.0	2.0	1111	$995	$0.90	44d	1	0.86mi

Listing history 12 events

1. 2026-06-19
   days on market $50,000 Active 14 DOM
2. 2026-06-18
   days on market $50,000 Active 13 DOM
3. 2026-06-17
   days on market $50,000 Active 12 DOM
4. 2026-06-16
   days on market $50,000 Active 11 DOM
5. 2026-06-15
   days on market $50,000 Active 10 DOM
6. 2026-06-14
   days on market $50,000 Active 8 DOM
7. 2026-06-13
   days on market $50,000 Active 7 DOM
8. 2026-06-10
   days on market $50,000 Active 5 DOM
9. 2026-06-09
   days on market $50,000 Active 4 DOM
10. 2026-06-08
    days on market $50,000 Active 3 DOM
11. 2026-06-07
    remarks 607-char remark
12. 2026-06-07
    listed $50,000 Active 2 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: $548 · $46/mo
• Projected year-2 tax: $842 · $70/mo
• Expected delta: +$293/yr (+$24/mo · 53.5%)

ⓘ 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 ≥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: $13,574
• − Mortgage interest: −$2,801
• − Property taxes: −$548
• − Insurance: −$250
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$1,455
• Taxable income: $6,348
• Est. tax owed @ 24.0%: −$1,524
• After-tax cash flow: $5,255/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): 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

• 2026-06-05 Listed $50,000 CIBR

Property tax history

+0.3%/yr

Latest (2024): $548 · -2.7% YoY. Source: county tax records.