712 Waggoner St · Decatur, IL 62526

$55,000

2 bd · 1.0 ba · 960 sqft · Other public records · 11 Days on market

Built 1915 6,000 sqft lot

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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

MOVE IN READY!!! ADD TO YOUR PORTFOLIO and start cash flow. Great opportunity to First Time Home Buyers or maybe you is looking to downsize. Clean, New Paint, Flooring, and upgraded Bathroom. Don't miss out on this.

Key facts

• 6,000 sq ft lot
• Garage
• Built 1915

Property features AI

Finance

• Other: Located in Homestead Place subdivision; Directions: West Grand to Maple to east on Waggoner

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single family residence; One story
• Construction: Wood siding; Shingle roof; Built with a full unfinished basement
• Exterior features: Front porch; Concrete road access; R-1 zoning

Interior

• Kitchen: No cooling listed
• Bedrooms: 4 total rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Gas water heater; Unfinished full basement
• Laundry & utility: Heating is natural gas

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 15.9% 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; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 90% 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 $380 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1915 — 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: 1.88% ✓
• Cap rate: 15.92%
• Cash-on-cash: 34.39%
• DSCR: 2.53
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 31.3%
• Equity multiple: 2.37×
• Total profit: $21,038
• Equity at exit: $10,146

10-year hold

• IRR: 37.5%
• Equity multiple: 4.65×
• Total profit: $56,178
• Equity at exit: $8,165

Cash invested: $15,400 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,033 high
• Mortgage (P&I): −$288
• Tax from tax record: −$63 /mo · $758/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $441

Break-even live

Break-even rent $474

Max offer price $55,000

Occupancy floor 52%

Sensitivity live

Price	-10% $472	-5% $457	+0% $441	+5% $426	+10% $410
Rent	-10% $360	-5% $401	+0% $441	+5% $482	+10% $523
Rate	-1.0pp $469	-0.5pp $455	base $441	+0.5pp $427	+1.0pp $413

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1045 N Monroe St Decatur, IL	3.0	2.0	1094	$1,000	$0.91	44d	1	0.29mi
1311 N Walnut Grove Ave Decatur, IL	2.0	1.0	781	$1,100	$1.41	44d	1	0.30mi
1245 N Union St Decatur, IL	3.0	2.0	1111	$995	$0.90	44d	1	0.32mi
853 N College St Decatur, IL	2.0	1.0	936	$925	$0.99	44d	1	0.48mi
1908 N Union St Decatur, IL	2.0	1.0	704	$899	$1.28	44d	1	0.49mi
2148 N Graceland Ave Decatur, IL	2.0	1.0	864	$1,195	$1.38	44d	1	0.57mi
1345 N Fairview Ave Decatur, IL	3.0	1.0	785	$985	$1.25	44d	1	0.68mi
510 E Pierson Ave Decatur, IL	3.0	1.0	895	$1,200	$1.34	44d	1	1.06mi
927 E Harrison Ave Decatur, IL	2.0	1.0	720	$675	$0.94	21d	1	1.20mi
1091 N Oakcrest Ave Decatur, IL	2.0	1.0	672	$950	$1.41	44d	1	1.27mi

Listing history 10 events

1. 2026-06-19
   days on market $55,000 Active 11 DOM
2. 2026-06-18
   days on market $55,000 Active 10 DOM
3. 2026-06-17
   days on market $55,000 Active 9 DOM
4. 2026-06-16
   days on market $55,000 Active 8 DOM
5. 2026-06-15
   days on market $55,000 Active 7 DOM
6. 2026-06-14
   days on market $55,000 Active 5 DOM
7. 2026-06-13
   days on market $55,000 Active 4 DOM
8. 2026-06-10
   days on market $55,000 Active 2 DOM
9. 2026-06-09
   remarks 215-char remark
10. 2026-06-09
    listed $55,000 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: $758 · $63/mo
• Projected year-2 tax: $1,003 · $84/mo
• Expected delta: +$245/yr (+$20/mo · 32.4%)

ⓘ 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: $12,393
• − Mortgage interest: −$3,081
• − Property taxes: −$758
• − Insurance: −$275
• − Repairs & maintenance: −$991
• − Management: −$991
• − Depreciation: −$1,600
• Taxable income: $4,696
• Est. tax owed @ 24.0%: −$1,127
• After-tax cash flow: $4,169/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 event — show timeline

• 2026-06-08 Listed $55,000 CIBR

Property tax history

+0.3%/yr

Latest (2024): $758 · +0.8% YoY. Source: county tax records.