1202 Dean Dr #5 · Urbana, IL 61802

$99,900

2 bd · 1.5 ba · 970 sqft · Condo · 73 Days on market

Built 1983 $150/mo HOA · 12% of rent

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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 +20.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +6.6/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This 2-bedroom, 1-bath condo features a spacious living room with a cozy fireplace and an eat-in kitchen. Enjoy some fresh air on the private balcony, along with peace of mind from major updates including an HVAC system just 3 years old, water heater 4 years old, and a roof replaced only 2 years ago. Take advantage of the amenities, including a clubhouse, tennis courts, and an in-ground pool. The monthly association fee also covers exterior maintenance, lawn care, snow removal, and trash service, making for easy, low-maintenance living. Located just minutes from shopping, restaurants, Carle Hospital, and the University of Illinois campus, with quick access to MTD bus lines and I-74 for an e

Key facts

• In-ground pool
• Private balcony
• Eat-in kitchen

Tags

• PRIVATE BALCONY
• COZY FIREPLACE
• EAT-IN KITCHEN
• MAJOR UPDATES
• IN-GROUND POOL

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.6% in Urbana — 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 80/100 on livability (#110 in IL, #1,793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, schools D-, crime F.
• Urbana SD 116 (urban): math 11% / reading 13% proficiency, ranked #568 of 620 in IL (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+11.8%/yr); 122 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); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 573 units permitted in Champaign County in 2024 (359 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Champaign County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-863
• Equity at exit: $14,895

10-year hold

• IRR: 14.2%
• Equity multiple: 2.45×
• Total profit: $40,614
• Equity at exit: $8,638

Cash invested: $27,972 (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 61802

• Home prices YoY: -20.5%
• Rents YoY: 11.8%
• Active inventory: 122
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,236 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$150
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $136

Break-even live

Break-even rent $1,064

Max offer price $99,900

Occupancy floor 84%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1304 Christopher Cir Urbana, IL	2.0	1.0	970	$1,300	$1.34	43d	1	0.15mi
1304 Christopher Cir Urbana, IL	2.0	1.0	970	$1,250	$1.29	21d	1	0.15mi
26 Ivanhoe Dr Urbana, IL	2.0	2.0	896	$935	$1.04	13d	1	0.34mi
1032 E Kerr Ave Urbana, IL	1.0–2.0	1.0–2.0	777	$1,430	$1.84	13d	46	0.46mi
904 N Broadway Ave Urbana, IL	2.0	1.0	825	$972	$1.18	21d	1	0.97mi
202 Hartle Ave Unit 2 Urbana, IL	1.0	1.0	575	$790	$1.37	43d	1	1.33mi
1901 N Lincoln Ave Urbana, IL	2.0	2.0	821	$660	$0.80	43d	1	1.34mi
506 E Elm St Unit 2 Urbana, IL	1.0	1.0	760	$1,500	$1.97	43d	1	1.36mi
3419 County Road 1400 E Unit B Urbana, IL	2.0	1.0	750	$995	$1.33	21d	1	1.40mi
808 N Lincoln Ave Unit 2 Urbana, IL	2.0	1.0	800	$995	$1.24	43d	1	1.49mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Likely covers: watertrashlandscapingsnow removalexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $99,900 Active 73 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,836
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − HOA: −$1,800
• − Depreciation: −$2,906
• Taxable income: $162
• Est. tax owed @ 24.0%: −$39
• After-tax cash flow: $1,597/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: Urbana SD 116
• NCES district ID: 1739960
• Math proficiency: 11% ▼ -5.00%
• Reading proficiency: 13% ▼ -7.00%
• Median HH income: $33,678
• Composite: 9.72/100
• National rank: #9830
• State rank: #568 of 620 in IL

Livability — Urbana

• Score: 80/100
• State rank: #110
• US rank: #1793

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D Housing B+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Champaign County · 182,148 people
• City population: 48,184
• Metro: Champaign-Urbana, IL
• Population (ZIP): 20,293
• Household income: $61,620
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 809.0

Population outlook (Champaign County) Hauer SSP2

• Today (2025): 223,848 people
• By 2030: 231,416 · +3.4%
• By 2040: 244,321 · +9.1%
• By 2050: 256,432 · +14.6%
• By 2075: 285,823 · +27.7%
• By 2100: 296,406 · +32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 18% Hispanic / Latino 11% Asian 7% Two or more races 6%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 12% · China, Canada, South Korea
• Languages at home: 83% English-only · Spanish 7% Other Indo-European 2% Chinese 2%

Political lean MEDSL · Champaign

• 2024 margin: Strong D (+24.1) · D 61.3% · R 37.2% · Other 1.5%
• 2008→2024 swing: +6.6pp toward D · 2008: 17.5pp · 2024: 24.1pp
• All cycles: 2024: D+24.1 2020: D+22.8 2016: D+18.4 2012: D+6.8 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.21%
• Current HPI: 206.3079
• Rent YoY: ▲ 11.85%
• Metro: Champaign-Urbana, 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