A 1957 home owned by the same family for nearly 70 years, near Lake Decatur in Decatur, Illinois, with a walkout basement, insulated attic, fenced yard, above-ground pool, and recent roof, furnace, and AC updates, sold as-is and listed at $81,000.
Some homes change hands every few years. This one has been in the same family since the 1950s.
Located at 3443 E Oakwood Ave in Decatur, Illinois, this three-bedroom, two-bathroom home carries nearly seven decades of family history, along with practical updates that matter most to buyers: a full roof replacement, a newer furnace, improved insulation, and newer central air.
It also offers a walkout basement, an insulated attic with potential for a fourth bedroom, a covered walkway to the garage, and a large fenced backyard with a patio, storage sheds, and an above-ground pool.
All of this sits in a quiet neighborhood near Lake Decatur, for just $81,000.
Below, we walk through every part of the home, what the listing tells us, and the questions any buyer should ask before making an offer.
Property Overview
- Address: 3443 E Oakwood Ave, Decatur, IL 62521
- List price: $81,000
- Bedrooms: 3
- Bathrooms: 2
- Living area: 1,136 square feet
- Year built: 1957
- Lot size: 0.33 acres
- Basement: spacious walkout
- Attic: insulated, with potential for a fourth bedroom or extra living space
- Garage: connected by a covered walkway
- Yard: large, fully fenced, with patio, storage sheds, and above-ground pool
- Updates: roof tear-off and replacement in 2014, new furnace and weatherproof insulation around 2021, new central air around 2022
- Ownership: same family since the 1950s
- Condition: sold as-is
The Location: Decatur, Illinois
Decatur is a city in central Illinois and the seat of Macon County.
The home sits in a quiet neighborhood near Lake Decatur, a large lake that offers boating, fishing, and lakeside parks.
The listing also mentions nearby Splash Cove, a local water park that is a favorite with families during summer.
Decatur is known for its affordable housing, which helps explain how a home with this much indoor and outdoor space can be listed at such a modest price.
Nearly 70 Years of Family History
The home has been owned by the same family since the 1950s.
Long-term ownership often means a home has been cared for over many years. It can also mean some parts of the house have not been updated in a long time.
Buyers should look at which areas have been updated and which remain original, so they can plan their budget accordingly.
The Lot
The lot measures 0.33 acres, or about one third of an acre.
That is a generous lot for a city neighborhood, giving room for the pool, patio, sheds, and plenty of open yard space.
The Fenced Backyard
The large backyard is fully fenced.
A fenced yard is a big plus for families with children or pets. It adds privacy and security and makes the outdoor space more usable.
Buyers should check the fence’s condition and confirm the property lines.
The Patio
A patio offers space for outdoor dining, grilling, and relaxing.
Combined with the pool and fenced yard, it creates an outdoor area well suited for summer gatherings.
The Above-Ground Pool
The backyard includes an above-ground pool.
The listing says the pool was previously in use and is in good working condition, but it will need a new pump and filter.
Replacing a pump and filter on an above-ground pool is usually a manageable project. Buyers should get a quote and ask about the age and condition of the liner and walls.
Pools also affect insurance, so be sure to mention it when getting quotes. Local codes may require specific fencing or barriers around pools.
The Storage Sheds
The yard includes storage sheds.
Sheds are perfect for lawn equipment, pool supplies, bikes, and tools, keeping the garage and basement free for other uses.
Ask about the condition of each shed, including roofs and doors.
The Garage and Covered Walkway
A covered walkway connects the garage to the home.
This is a practical feature in central Illinois, where winters can be cold and snowy. It keeps you dry when carrying groceries or moving between the car and the house.
Ask about the garage’s size and whether the door opener works.
The Living Space
The main living area offers 1,136 square feet with three bedrooms and two bathrooms.
The listing does not describe the interior rooms in detail. Buyers should check the condition of the kitchen, bathrooms, flooring, and finishes during a showing.
Homes from the 1950s often have hardwood floors under carpet, which can be a pleasant surprise for buyers.
The Walkout Basement
The home has a spacious walkout basement.
Walkout basements have their own exterior door at ground level, which makes the space brighter and more usable than a standard basement.
It can serve as a family room, game room, workshop, or storage area, adding valuable space beyond the main level.
Buyers should check for moisture or past water intrusion, and ask whether a sump pump is present.
The Insulated Attic
The insulated attic offers potential for a fourth bedroom or additional living space.
Finishing an attic can add square footage and value. Buyers should check ceiling height, access stairs, and local building codes, which often require minimum ceiling heights, proper egress, and safe stair access for a room to count as a bedroom.
The Roof
The roof received a complete tear-off and replacement in 2014.
A tear-off means the old roofing was fully removed before the new roof was installed, which is the better way to replace a roof.
At about twelve years old, the roof should still have useful life left, depending on the material. Ask for any receipts or warranty information.
The Furnace and Insulation
A new furnace was installed around 2021, along with weatherproof insulation through Ameren, the local utility.
A newer furnace means lower near-term replacement costs and more efficient heating. Added insulation can lower energy bills and improve comfort in winter and summer.
The Central Air
New central air was installed around 2022.
With both the furnace and air conditioning replaced in recent years, the home’s heating and cooling are in strong shape. That is one of the biggest expenses buyers usually worry about in older homes.
Sold As-Is
The property is being sold as-is.
This is common with estate sales and long-term family homes. The seller will not make repairs, so buyers should inspect carefully and budget for any needed work.
Plumbing and Electrical
The listing does not mention updates to plumbing or electrical systems.
Homes from 1957 may have older wiring or galvanized pipes. Ask what has been updated, and have the inspector check both systems.
Water Heater
Ask about the age of the water heater, since they typically last ten to fifteen years.
Lead Paint
Because the home was built before 1978, federal rules require sellers to disclose any known lead-based paint.
Buyers planning renovations should follow lead-safe work practices, especially when sanding or scraping old painted surfaces.
Insurance Considerations
The 2014 roof, newer furnace, and newer central air should help with insurance pricing.
The pool will need to be disclosed and may raise liability considerations. Get quotes early.
Financing Options
At $81,000, this home is within reach for many buyers.
Conventional loans are available for well-qualified buyers, sometimes with as little as three to five percent down.
FHA loans offer low down payments and flexible credit requirements. The home must meet FHA standards, and the pool may need to be safe and functional or properly secured.
VA loans allow eligible veterans to buy with no down payment.
USDA loans are designed for rural areas and are unlikely to apply within Decatur.
FHA 203k renovation loans let buyers finance repairs or updates along with the purchase, which can be useful for an as-is home.
Illinois also offers down payment assistance programs for eligible buyers. Ask a lender whether you qualify.
Cash buyers may find this home appealing as well, given its price.
Who This Home Is For
First-time buyers get an affordable home with major systems already updated.
Families get a fenced yard, a pool, and a walkout basement.
Investors get a low entry price with potential rental value.
Buyers who want to add value get an attic and basement with room to grow.
Owner-Occupant Potential
As a primary residence, this home offers comfort, space, and low costs.
With the roof, furnace, and central air already addressed, buyers can focus on cosmetic updates and personal touches.
Rental Potential
A three-bedroom home with a fenced yard near Lake Decatur could attract long-term tenants.
Investors should research local rents and check any rental registration or inspection requirements in Decatur. Some landlords choose to remove pools from rental properties to reduce liability.
Possible Future Improvements
- Finishing the attic into a fourth bedroom or bonus room
- Finishing the walkout basement into a family room
- Updating the kitchen and bathrooms
- Refinishing any hardwood floors under carpet
- Replacing the pool pump and filter
- Expanding the patio or adding a deck
Questions to Ask Before Making an Offer
- What updates have been made to plumbing and electrical?
- How old is the water heater?
- Has the basement ever had water or moisture issues?
- Is there a sump pump?
- What is the attic’s ceiling height and access?
- What does the pool need besides a pump and filter?
- Are receipts available for the roof, furnace, and AC?
- What are the property taxes?
- Are there any liens or estate issues?
Inspection Is Essential
Even with major updates done, an as-is home should be inspected carefully.
Buyers should check the roof, foundation, basement, plumbing, electrical, and pool. A sewer line camera inspection is wise for a home of this age.
The Price in Context
At $81,000, the home works out to about $71 per square foot, not counting the walkout basement.
That is a strong price for a home with a newer roof, furnace, and central air, plus a large fenced yard and pool.
Buyers should compare it with recent sales of similar homes near Lake Decatur.
Final Thoughts
This Decatur home has been loved by one family for nearly 70 years, and it is ready for its next chapter.
Three bedrooms, two baths, a walkout basement, an insulated attic, a fenced yard with a pool, and major system updates already done, all near Lake Decatur for $81,000.
Inspect carefully, plan your updates, and this could be a wonderful place to start your own family story.
Would you live here?
If you’re interested in learning more about this property, please contact the listing agent through the Zillow link provided below the photos.
Zillow Listing and Full Gallery.
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