1331 S Maffit St · Decatur, IL 62521

$20,800

3 bd · 1.5 ba · 1,600 sqft · Other public records · 42 Days on market

Built 1980 10,400 sqft lot

---

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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 MLS

Very unique - a full 3 bedroom home upstairs and another home in the converted basement/garage downstairs. PLUS a detached garage with alley access. This house does need some work and a couple of buckets of paint and elbow grease commitment, and determination, but if you need a big big house, this is probably the best, most affordable house on the market for the SF! Don't wait for a better deal or a house with more rooms or possibilities. The lake is just down the hill, St. Mary's and Eisenhower High School are approx. 1/2 mile east. Buy it, fix it, live in it, and enjoy your near-the-lake home. You need proof of your cash funds to submit an offer. This house is currently marketed thru on-line auction. SELLING AS IS!

Key facts

• Alley access
• Converted basement
• Detached garage

Tags

• DETACHED GARAGE
• ALLEY ACCESS
• CONVERTED BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $21k.

Deal economics

• At list price, monthly cash flow is $704 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $21k).
• Recommended offer: $20k (3.0% below list) — sets the bar for market timing.
• Cap rate 46.9% 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: 193 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 88% 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 $144 of loan paydown is wiped out by about $624 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($20k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.

Recommended offer $20,176 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 5.27% ✓
• Cap rate: 46.93%
• Cash-on-cash: 145.12%
• DSCR: 7.46
• GRM: 1.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.13×
• Total profit: $41,516
• Equity at exit: $3,101

10-year hold

• IRR: —
• Equity multiple: 17.14×
• Total profit: $94,027
• Equity at exit: $1,798

Cash invested: $5,824 (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: 1.6×

Monthly cashflow live

• Estimated rent: $1,097 high
• Mortgage (P&I): −$109
• Tax from tax record: −$45 /mo · $536/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $704

Break-even live

Break-even rent $206

Max offer price $20,800

Occupancy floor 31%

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: $5,200
• Closing costs: $624
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
759 E Lawrence St Decatur, IL	3.0	1.0	1080	$695	$0.64	43d	1	0.58mi
1455 E Whitmer St Decatur, IL	2.0	1.0	1050	$915	$0.87	43d	1	0.71mi
1245 Sedgwick St Decatur, IL	2.0	1.0	1055	$895	$0.85	43d	1	0.80mi
520 S Church St Decatur, IL	3.0	1.5	1250	$1,199	$0.96	13d	1	0.93mi
2150 S Imboden Pl Decatur, IL	2.0	2.0	1334	$2,775	$2.08	43d	1	0.93mi
1524 E Prairie St Decatur, IL	3.0	1.0	1400	$1,250	$0.89	43d	1	1.22mi
28 Phillips Dr Decatur, IL	3.0	1.5	2250	$1,650	$0.73	43d	1	1.22mi
2135 E Prairie St Decatur, IL	2.0	1.0	1127	$1,100	$0.98	43d	1	1.46mi

Listing history 1 events

1. 2026-04-13
   listed $20,800 Active 727-char remark

   Show marketing remark (727 chars)

   Very unique - a full 3 bedroom home upstairs and another home in the converted basement/garage downstairs. PLUS a detached garage with alley access. This house does need some work and a couple of buckets of paint and elbow grease commitment, and determination, but if you need a big big house, this is probably the best, most affordable house on the market for the SF! Don't wait for a better deal or a house with more rooms or possibilities. The lake is just down the hill, St. Mary's and Eisenhower High School are approx. 1/2 mile east. Buy it, fix it, live in it, and enjoy your near-the-lake home. You need proof of your cash funds to submit an offer. This house is currently marketed thru on-line auction. SELLING AS IS!

ⓘ 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: $536 · $45/mo
• Projected year-2 tax: $536 · $45/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 ≥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: $13,165
• − Mortgage interest: −$1,165
• − Property taxes: −$536
• − Insurance: −$104
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$605
• Taxable income: $8,649
• Est. tax owed @ 24.0%: −$2,076
• After-tax cash flow: $6,376/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

1 event — show timeline

• 2026-04-13 Listed $20,800 CIBR

Property tax history

+1.4%/yr

Latest (2024): $536 · +8.8% YoY. Source: county tax records.