1048 N 35th St · Decatur, IL 62521

$89,900

3 bd · 2.0 ba · 1,056 sqft · SingleFamily public records · 18 Days on market

Built 1978 9,405 sqft lot

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Why this score? — see what drove the C+ 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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

If you are looking for comfortable living on the east side, check out this house in a quiet neighborhood. A front porch along with a side porch and a back patio offer various options for grilling, entertaining or just enjoying an outside venue. The office can easily be converted into a 3rd bedroom; also two full bathrooms! The appliances stay and it is move-in ready! Check out the updates . .. and make this house a must see. Priced below appraised value!

Key facts

• 9,405 sq ft lot
• 2 garage spots
• Built 1978

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Aluminum siding; Shingle roof; Built with crawl space foundation
• Exterior features: Asphalt road access; Lot approximately 0.22 acres; R-1 zoning

Interior

• Kitchen: Cooktop; Oven; Range hood
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: Two half bathrooms
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Cooktop; Gas water heater; Oven; Range hood; Crawl space basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: 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.
• Market conditions: 193 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $622 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $90k implies a 80% gain — meaningful room to come down on a strong offer.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — 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: 1.30% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.13%
• DSCR: 1.58
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $45,408
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3948 E Grand Ave	0.57mi	3/1.0	1,006 (-5%)	4mo	$87,900	$87	59
464 N 33rd St	0.44mi	2/1.0 (-1)	981 (-7%)	2mo	$103,000	$105	57
1790 N 34th St	0.62mi	3/1.0	1,040 (-2%)	13mo	$45,000	$43	53
333 N 35th St	0.53mi	3/1.0	1,120 (+6%)	13mo	$45,000	$40	50
1724 33rd St	0.72mi	3/1.0	1,064 (+1%)	14mo	$7,500	$7	50

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $3,006
• Equity at exit: $13,404

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $25,339
• Equity at exit: $7,773

Cash invested: $25,172 (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 62521

• Home prices YoY: -9.0%
• Active inventory: 193
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,168 high
• Mortgage (P&I): −$471
• Tax from tax record: −$138 /mo · $1,658/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $275

Break-even live

Break-even rent $819

Max offer price $89,900

Occupancy floor 71%

Sensitivity live

Price	-10% $326	-5% $301	+0% $275	+5% $250	+10% $225
Rent	-10% $183	-5% $229	+0% $275	+5% $322	+10% $368
Rate	-1.0pp $321	-0.5pp $298	base $275	+0.5pp $252	+1.0pp $228

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1635 N 28th St Decatur, IL	3.0	1.0	1200	$1,200	$1.00	46d	1	0.90mi
2448 E Wood St Decatur, IL	3.0	1.0	800	$995	$1.24	15d	1	1.09mi
2618 E Garfield Ave Decatur, IL	2.0	1.5	1170	$650	$0.56	15d	1	1.13mi
4318 E Cantrell St Decatur, IL	2.0	1.0	850	$1,500	$1.76	23d	1	1.38mi
2135 E Prairie St Decatur, IL	2.0	1.0	1127	$1,100	$0.98	46d	1	1.43mi
2032 E North St Decatur, IL	2.0	1.0	754	$900	$1.19	46d	1	1.44mi

Listing history 14 events

1. 2026-06-09
   status $89,900 Pending 18 DOM
2. 2026-06-08
   days on market $89,900 Active Under Contract 18 DOM
3. 2026-06-07
   days on market $89,900 Active Under Contract 17 DOM
4. 2026-06-05
   days on market $89,900 Active Under Contract 14 DOM
5. 2026-06-02
   days on market $89,900 Active Under Contract 12 DOM
6. 2026-06-01
   days on market $89,900 Active Under Contract 11 DOM
7. 2026-05-31
   days on market $89,900 Active Under Contract 10 DOM
8. 2026-05-30
   days on market $89,900 Active Under Contract 9 DOM
9. 2026-05-21
   listed $89,900 Active
10. 2019-12-26
    soldstatus $50,000
11. 2019-12-23
    soldstatus $50,000 458-char remark

    Show marketing remark (458 chars)

    If you are looking for comfortable living on the east side, check out this house in a quiet neighborhood. A front porch along with a side porch and a back patio offer various options for grilling, entertaining or just enjoying an outside venue. The office can easily be converted into a 3rd bedroom; also two full bathrooms! The appliances stay and it is move-in ready! Check out the updates . .. and make this house a must see. Priced below appraised value!

12. 2019-08-09
    listed

    Show marketing remark (458 chars)

    If you are looking for comfortable living on the east side, check out this house in a quiet neighborhood. A front porch along with a side porch and a back patio offer various options for grilling, entertaining or just enjoying an outside venue. The office can easily be converted into a 3rd bedroom; also two full bathrooms! The appliances stay and it is move-in ready! Check out the updates . .. and make this house a must see. Priced below appraised value!

13. 2019-08-09
    listed $60,000 458-char remark

    Show marketing remark (458 chars)

    If you are looking for comfortable living on the east side, check out this house in a quiet neighborhood. A front porch along with a side porch and a back patio offer various options for grilling, entertaining or just enjoying an outside venue. The office can easily be converted into a 3rd bedroom; also two full bathrooms! The appliances stay and it is move-in ready! Check out the updates . .. and make this house a must see. Priced below appraised value!

14. 2007-01-08
    soldstatus $55,000

ⓘ 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: $1,658 · $138/mo
• Projected year-2 tax: $1,849 · $154/mo
• Expected delta: +$191/yr (+$16/mo · 11.5%)

ⓘ 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 · 18 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: $14,012
• − Mortgage interest: −$5,036
• − Property taxes: −$1,658
• − Insurance: −$450
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$2,615
• Taxable income: $2,012
• Est. tax owed @ 24.0%: −$483
• After-tax cash flow: $2,822/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): 32,665
• Household income: $66,337
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 640.0

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 (75%)
• Race & ethnicity: White 75% Black 17% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 0%

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: ▼ -17.96%
• Current HPI: 180.9274
• 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

+63.5% since first listed

8 events — show timeline

• 2026-06-08 Pending — CIBR
• 2026-05-23 Contingent — CIBR
• 2026-05-21 Listed $89,900 CIBR
• 2019-12-26 Sold (Public Records) $50,000 Public Records
• 2019-12-23 Sold (MLS) $50,000 CIBR
• 2019-08-09 Listed — MRED as Distributed by MLS Grid
• 2019-08-09 Listed $60,000 CIBR
• 2007-01-08 Sold (Public Records) $55,000 Public Records

Property tax history

+1.5%/yr

Latest (2019): $1,658 · +2.5% YoY. Source: county tax records.