1204 Dean Dr #8 · Urbana, IL 61802

$110,000

2 bd · 1.5 ba · 964 sqft · Condo · 9 Days on market

Built 1988 $155/mo HOA · 12% of rent

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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 +17.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +5.3/10.0
• 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 MLS

2nd-floor unit with a detached garage. 2 Bedrooms and 1.5 bathrooms. All kitchen appliances included.

Key facts

• $155 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Part of an 8-unit building
• Financial info: Special service area: No
• HOA & community: Monthly association fee of $155; Association includes insurance, clubhouse, exercise facilities, pool, exterior maintenance, lawn care, and snow removal; Pets allowed (cats and dogs) with a maximum pet weight of 30 lbs

Exterior

• Parking: Detached garage (1 garage space, 1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Attached single (condo/duplex); Entry level: 2; Condo ownership
• Construction: Brick construction; Approximately 31–40 years old
• Exterior features: Condo lot/setting

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Two bedrooms (both on the main level); Master bedroom on the main level with a full bath
• Flooring: Carpet in living room and bedrooms; Luxury vinyl flooring in kitchen and dining room
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five total rooms; School bus service; Interstate access
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $77 ($921/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 7.1% 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: Thomas Paine Elem School (math 5% / reading 5%, grade F, #1,741 of 2,056 statewide, top 93%, 251 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $761 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 17y ago; this cycle's ask is 29% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $89k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $110,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.14% ✓
• Cap rate: 7.13%
• Cash-on-cash: 2.99%
• DSCR: 1.13
• GRM: 7.3

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: -5.1%
• Equity multiple: 0.80×
• Total profit: $-6,188
• Equity at exit: $16,401

10-year hold

• IRR: 10.4%
• Equity multiple: 2.02×
• Total profit: $31,569
• Equity at exit: $9,511

Cash invested: $30,800 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,256 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$155
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $77

Break-even live

Break-even rent $1,158

Max offer price $110,000

Occupancy floor 89%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	0.33mi
1032 E Kerr Ave Urbana, IL	1.0–2.0	1.0–2.0	777	$1,430	$1.84	13d	46	0.54mi
904 N Broadway Ave Urbana, IL	2.0	1.0	825	$972	$1.18	21d	1	1.06mi
3419 County Road 1400 E Unit B Urbana, IL	2.0	1.0	750	$995	$1.33	21d	1	1.34mi
1901 N Lincoln Ave Urbana, IL	2.0	2.0	821	$660	$0.80	43d	1	1.40mi
202 Hartle Ave Unit 2 Urbana, IL	1.0	1.0	575	$790	$1.37	43d	1	1.40mi
506 E Elm St Unit 2 Urbana, IL	1.0	1.0	760	$1,500	$1.97	43d	1	1.44mi

HOA detail condo

• Monthly dues: $155 · $1,860/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-13
   statusdays on market $110,000 Pending 9 DOM
2. 2026-06-10
   days on market $110,000 Active 8 DOM
3. 2026-06-09
   days on market $110,000 Active 7 DOM
4. 2026-06-08
   days on market $110,000 Active 6 DOM
5. 2026-06-07
   remarks 216-char remark
6. 2026-06-07
   listed $110,000 Active 5 DOM

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

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: $15,067
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − HOA: −$1,860
• − Depreciation: −$3,200
• Taxable loss: −$765
• Est. tax savings @ 24.0%: +$184
• After-tax cash flow: $1,104/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

Price history

+11.2% since first listed

12 events — show timeline

• 2024-07-09 Sold (MLS) $89,000 MRED as Distributed by MLS Grid
• 2024-06-07 Pending — MRED as Distributed by MLS Grid
• 2024-06-06 Relisted — MRED as Distributed by MLS Grid
• 2024-05-28 Contingent — MRED as Distributed by MLS Grid
• 2024-05-28 Relisted — MRED as Distributed by MLS Grid
• 2024-05-02 Contingent — MRED as Distributed by MLS Grid
• 2024-04-28 Listed $85,000 MRED as Distributed by MLS Grid
• 2010-04-30 Sold (MLS) $77,000 MRED as Distributed by MLS Grid
• 2010-03-30 Listing Removed — MRED as Distributed by MLS Grid
• 2010-02-16 Listed $80,000 MRED as Distributed by MLS Grid
• 2010-02-10 Listing Removed — MRED as Distributed by MLS Grid
• 2009-12-15 Listed — MRED as Distributed by MLS Grid