1730 N Water St

Decatur, IL 62526

$625,000
Last Sold Price
—
Beds
—
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
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Closed 8/26/25
Closed 8/26/25

Description

INVESTMENT OPPORTUNITY – 14-UNIT MULTIFAMILY PROPERTY | 13% CAP RATE - Located at 1730 N Water Street in Decatur, IL, this fully renovated 14-unit multifamily property presents an exceptional investment opportunity with a strong 13% cap rate. The three-story building consists of 14 one-bedroom, one-bath apartments, each of which has been completely remodeled and updated with new flooring, fixtures, and appliances. The property also features a new roof, reducing future maintenance concerns and enhancing...INVESTMENT OPPORTUNITY – 14-UNIT MULTIFAMILY PROPERTY | 13% CAP RATE - Located at 1730 N Water Street in Decatur, IL, this fully renovated 14-unit multifamily property presents an exceptional investment opportunity with a strong 13% cap rate. The three-story building consists of 14 one-bedroom, one-bath apartments, each of which has been completely remodeled and updated with new flooring, fixtures, and appliances. The property also features a new roof, reducing future maintenance concerns and enhancing long-term value. This turnkey investment is fully occupied with fresh tenants, ensuring immediate and steady rental income. The building’s upgrades and strong rental demand make it an ideal opportunity for investors looking for a high-yield, low-maintenance multifamily asset in a growing market. Don't miss your chance to acquire a stabilized property with strong cash flow. Contact us today for more details!
  1. Listed by Cole Babcock • Vieweg RE/Better Homes & Gardens Real Estate-Service First
    P: (217)-433-0839 C: (217)-433-0839 cole@viewegrealestate.com

Property Details for 1730 North Water Street

Subdivision Name
Whitchels Add
Has Waterfront
No
Zoning
Other
LISTING CLOSED: 08/26/2025 12:00 AM

Property Details for 1730 North Water Street

StatusClosed
MLS #6250739
Days on Market109
Taxes$8,430 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1979
Lot Size0.29 AC / 12,632 SF
CountyMacon County
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Location

Listing Courtesy of Vieweg RE/Better Homes & Gardens Real Estate-Service First

Sold By Mtz Realty Services

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Building Information for 1730 North Water Street

Stories3Residences14Year Built1979Building Size-Lot Size0.29 AC / 12,632 SF

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$3,879 per month

30 year fixed, 6.55% Interest

Principal and Interest

$3,177

Property Taxes

$703

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 1730 North Water Street

Summary
Location and General Information
  • Latitude: 39.860079
  • Longitude: -88.954479
Taxes and HOA
  • Parcel Number: 04-12-11-102-005
  • Tax Annual Amount: $8,430.00
  • Tax Year: 2023
School Information
  • Elementary School District: Decatur Dist 61
  • High School District: Decatur Dist 61
  • Middle Or Junior School District: Decatur Dist 61
Parking
  • Carport: No
  • Garage: No
Property
Lot Information
  • Lot Size Acres: 0.29
  • Lot Size Area: 0.29
  • Lot Size Units: Acres
  • Lot Size Square Feet: 12640.0
  • Road Frontage Type: City Street, Private Road, State Road
  • Road Responsibility: Private Maintained Road, Public Maintained Road
Property and Assessments
  • Living Area Source: Public Records
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Year Built: 1979
  • Year Built Source: Public Records
Building Features
  • Construction Materials: Brick, Vinyl Siding
  • Levels: Three Or More
  • Roof: Shingle
  • Stories: 3
  • Total Stories: 3
Utilities
  • Sewer: Public Sewer
  • Water Source: Public
Interior and Exterior Features
Interior Features
  • Appliances: Cooktop, Disposal, Gas Water Heater, Oven, Range, Refrigerator, Range Hood
  • Basement: Finished, Full
  • Has Basement: Yes
  • Cooling: Ductless, Window Unit(s)
  • Has Cooling: Yes
  • Heating: Ductless, Electric, Hot Water
  • Has Heating: Yes
Multi Family
Multi Family Information
  • Number Of Units Total: 14
Income & Expenses
  • Gross Scheduled Income: $117,000
  • Net Operating Income: $92,970
  • Operating Expense: $24,030.00

Property History for 1730 North Water Street

DateEvent & SourcePriceAppreciation
Aug 26, 2025

Sold

Central Illinois Board of REALTORS #6250739

$625,000—
Aug 22, 2025

Sold (Public Record)

Public Record #1911649837

$625,000

+1.4% / yr

Aug 13, 2025

Pending

Central Illinois Board of REALTORS #6250739

—
DateEvent & SourcePrice
08/26/2025

Sold

Central Illinois Board of REALTORS #6250739

$625,000
08/22/2025

Sold (Public Record)

Public Record #1911649837

$625,000

+1.4% / yr

08/13/2025

Pending

Central Illinois Board of REALTORS #6250739

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 1730 North Water Street

Taxable ValueLand$12,865Additions$81,335Total$94,200
Tax Record2025$8,791 ($733 / month)
Home Facts
Lot Size12,640 SqFtStyleMulti-Family Res (5+ Units)ZoningMUNICIPALCountyMACONAPN04-12-11-102-005

Schools near 1730 North Water Street

This home is within Decatur School District 61.
Rating
School
Type
Grades
Distance
Hope Academy
Public - K to 8
Macarthur High School
Public - 9 to 12
Garfield Montessori School
Public - PK to 8
Johns Hill Magnet School
Public - K to 8
Rating
School
Distance
Hope Academy
PublicK to 8

Macarthur High School
Public9 to 12

Garfield Montessori School
PublicPK to 8

Johns Hill Magnet School
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot AC
1720 North Water Street, Decatur, IL 62526
–
–
–
–
0.15
1704 North Water Street, Decatur, IL 62526
$30,000
–
1
928
0.14
135 East Johnson Avenue, Decatur, IL 62526
–
–
–
–
0.04
1816 North Water Street, Decatur, IL 62526
$160,000
–
–
–
–
1725 North Water Street, Decatur, IL 62526
–
–
–
–
0.33

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Vieweg RE/Better Homes & Gardens Real Estate-Service First

The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of Central Illinois Board of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright ©2026 Central Illinois Board of REALTORS®. All rights reserved.