2301 E Rainbow Vw · Urbana, IL 61802

$125,000

3 bd · 1.5 ba · 960 sqft · SingleFamily · 3 Days on market

Built 1965 7,405 sqft lot Est $151k · 17% under

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Why this score? — see what drove the B 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 +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +6.8/10.0
• 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

Key facts

• 7,405 sq ft lot
• Garage
• Built 1965

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 10.0% 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, 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.
• Zoned schools: Dr Preston L Williams Jr Elem Sch (math 5% / reading 5%, grade F, #1,741 of 2,056 statewide, top 93%, 446 students, 0% FRL); Urbana Middle School (math 6% / reading 6%, grade F, #634 of 665 statewide, top 95%, 903 students, 0% FRL); Urbana High School (math 21% / reading 29%, grade F, #247 of 693 statewide, top 36%, 1,220 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+11.8%/yr); 122 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1965 — 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 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?
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: 1.18% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.14%
• DSCR: 1.58
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $150,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2301 E Rainbow Vw	0.00mi	3/1.5	960 (0%)	0mo	$125,000	$130	100
1905 Rainbow Vw	0.31mi	3/1.0	961 (+0%)	5mo	$100,000	$104	79
1112 Lanore Dr	0.44mi	3/1.0	925 (-4%)	1mo	$145,000	$157	71
312 S Glenn Dr	0.41mi	3/1.0	925 (-4%)	4mo	$115,000	$124	69
1304 Ogelthorpe Ave	0.19mi	3/1.0	1,069 (+11%)	2mo	$190,000	$178	69
601 S Sunny Ln	0.39mi	3/1.0	1,026 (+7%)	0mo	$189,500	$185	68
806 S Sunny Ln	0.35mi	3/1.0	1,020 (+6%)	5mo	$189,000	$185	68
2417 E Green St	0.47mi	2/1.0 (-1)	910 (-5%)	3mo	$112,500	$124	60
2314 1/2 E Main St	0.69mi	3/1.0	993 (+3%)	2mo	$123,000	$124	58
1512 Ogelthorpe Ave	0.33mi	4/2.0 (+1)	1,078 (+12%)	4mo	$220,000	$204	54
2422 E Green St	0.50mi	3/1.0	840 (-12%)	3mo	$145,000	$173	51
1103 Austin Dr	0.51mi	3/1.0	1,089 (+13%)	3mo	$139,000	$128	49

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.2%
• Equity multiple: 1.34×
• Total profit: $11,920
• Equity at exit: $18,638

10-year hold

• IRR: 21.2%
• Equity multiple: 3.20×
• Total profit: $77,163
• Equity at exit: $10,808

Cash invested: $35,000 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,474 high
• Mortgage (P&I): −$656
• Tax from tax record: −$74 /mo · $887/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $383

Break-even live

Break-even rent $989

Max offer price $125,000

Occupancy floor 69%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2307 Lantern Hill Dr Urbana, IL	3.0	1.0	905	$1,500	$1.66	43d	1	0.05mi
1507 E Washington St Urbana, IL	2.0	1.0	850	$950	$1.12	43d	1	0.64mi
1601 E Florida Ave Urbana, IL	2.0–3.0	2.0–3.0	949	$1,459	$1.54	13d	1	0.73mi
1806 S Cottage Grove Ave Urbana, IL	2.0–3.0	1.5–2.0	1000	$1,295	$1.29	13d	3	1.03mi
1201 S Lynn St Urbana, IL	2.0	1.0	747	$1,350	$1.81	44d	1	1.07mi
804 E Michigan Ave Urbana, IL	2.0	1.0	761	$1,325	$1.74	43d	1	1.08mi
615 E Colorado Ave Unit B Urbana, IL	3.0	1.5	1056	$1,495	$1.42	13d	1	1.31mi
615 E Colorado Ave Unit B Urbana, IL	3.0	1.5	1056	$1,395	$1.32	43d	1	1.31mi
306 E Michigan Ave Urbana, IL	2.0	1.5	800	$1,100	$1.38	21d	1	1.37mi
503 S Urbana Ave Urbana, IL	2.0	1.5	775	$1,275	$1.65	13d	2	1.42mi
503 S Urbana Ave Apt C Urbana, IL	2.0	1.5	775	$1,250	$1.61	43d	1	1.42mi

Listing history 2 events

1. 2026-04-25
   status Pending
2. 2026-04-09
   historical

ⓘ 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: $887 · $74/mo
• Projected year-2 tax: $1,862 · $155/mo
• Expected delta: +$975/yr (+$81/mo · 109.9%)

ⓘ 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 ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,693
• − Mortgage interest: −$7,002
• − Property taxes: −$887
• − Insurance: −$625
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − Depreciation: −$3,636
• Taxable income: $2,712
• Est. tax owed @ 24.0%: −$651
• After-tax cash flow: $3,949/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

• Census place: Urbana, IL
• 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

Property tax history

-0.1%/yr

Latest (2024): $887 · -3.0% YoY. Source: county tax records.