2404 Windward Blvd #201 · Champaign, IL 61821

$183,900

2 bd · 2.0 ba · 1,200 sqft · Condo · 103 Days on market

Built 2001 Good condition $153/sqft · 7% below area Est $197k · 7% under $250/mo HOA · 14% of rent ↓ 2% since listing

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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).

• ARV discount +10.5/15.0
• Cash flow +9.3/30.0
• Rent growth +4.8/5.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• DSCR +2.6/10.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautiful 2 bedroom, 2 bath condo in the desirable Ponds of Windsor! The bright, open living space features a cozy fireplace and brand-new waterproof vinyl flooring that flows throughout. Sliding glass doors lead to a private balcony where you can relax and enjoy peaceful views overlooking Morrissey Park. The spacious primary suite offers a full ensuite bath and double closets, providing plenty of storage. A second bedroom and full bath offer flexibility for guests, a home office, or additional living space. Residents also enjoy access to the community pool-perfect for cooling off and relaxing during the warmer months. With its comfortable layout, scenic views, and great amenities, this condo is a wonderful place to call home!

Key facts

• $250 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $184k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (4.5% below list).
• Recommended offer: $165k (10.5% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 3.8% in Champaign — 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 83/100 on livability (#44 in IL, #902 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F.
• Champaign CUSD 4 (urban): math 24% / reading 26% proficiency, ranked #333 of 620 in IL (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: International Prep Academy (math 12% / reading 8%, grade F, #1,517 of 2,056 statewide, top 78%, 568 students, 0% FRL); Jefferson Middle School (math 9% / reading 18%, grade F, #535 of 665 statewide, top 81%, 738 students, 0% FRL); Central High School (math 32% / reading 38%, grade F, #125 of 693 statewide, top 18%, 1,597 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+9.3%/yr); 92 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Recommended offer $164,511 (10.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
9. 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.
10. 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.
11. 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: 0.95% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.12%
• DSCR: 0.86
• GRM: 8.7

CMA / ARV

• ARV (median comp): $197,261
• List price: $183,900
• Delta: -6.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.9%
• Equity multiple: 0.44×
• Total profit: $-28,876
• Equity at exit: $27,420

10-year hold

• IRR: 1.5%
• Equity multiple: 1.13×
• Total profit: $6,825
• Equity at exit: $15,900

Cash invested: $51,492 (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 61821

• Home prices YoY: -26.1%
• Rents YoY: 9.3%
• Active inventory: 92
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,756 high
• Mortgage (P&I): −$964
• Tax est. 1.5%: −$230 /mo · $2,758/yr
• Insurance: −$77
• HOA: −$250
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-134

Break-even live

Break-even rent $1,925

Max offer price $164,511

Occupancy floor —

Sensitivity live

Price	-10% $-7	-5% $-70	+0% $-134	+5% $-198	+10% $-261
Rent	-10% $-273	-5% $-203	+0% $-134	+5% $-65	+10% $5
Rate	-1.0pp $-41	-0.5pp $-87	base $-134	+0.5pp $-182	+1.0pp $-230

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: $45,975
• Closing costs: $5,517
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1603 Sandpiper Ct Champaign, IL	2.0	1.0	1200	$1,675	$1.40	45d	1	0.48mi
2406 Leeper Dr Unit Aceves 1 Champaign, IL	2.0	1.5	950	$3,000	$3.16	15d	1	0.50mi
1915 S Mattis Ave Champaign, IL	1.0–3.0	1.0–2.0	971	$1,762	$1.81	15d	11	0.70mi
1924 Melrose Dr Unit C Champaign, IL	3.0	1.0	1039	$1,800	$1.73	15d	1	0.94mi
1920 Melrose Dr Champaign, IL	2.0	1.0	1140	$1,320	$1.16	15d	1	0.95mi
1902 Meadow Dr Champaign, IL	3.0	1.0	898	$1,750	$1.95	15d	1	1.22mi
401 W Curtis Rd Savoy, IL	1.0–2.0	1.0–2.0	845	$1,475	$1.75	15d	30	1.28mi
101 Misty Cv Savoy, IL	2.0–3.0	2.0	1349	$1,810	$1.34	15d	3	1.41mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $183,900 Active 103 DOM
2. 2026-06-18
   days on market $183,900 Active 100 DOM
3. 2026-06-18
   price $183,900 Active 99 DOM
4. 2026-06-17
   days on market $186,900 Active 99 DOM
5. 2026-06-16
   days on market $186,900 Active 98 DOM
6. 2026-06-15
   days on market $186,900 Active 97 DOM
7. 2026-06-14
   days on market $186,900 Active 95 DOM
8. 2026-06-13
   days on market $186,900 Active 94 DOM
9. 2026-06-10
   days on market $186,900 Active 92 DOM
10. 2026-06-09
    days on market $186,900 Active 91 DOM
11. 2026-06-08
    days on market $186,900 Active 90 DOM
12. 2026-06-07
    days on market $186,900 Active 89 DOM
13. 2026-06-05
    days on market $186,900 Active 86 DOM
14. 2026-06-03
    pricedays on market $186,900 Active 85 DOM
15. 2026-06-02
    days on market $189,900 Active 84 DOM
16. 2026-06-01
    days on market $189,900 Active 83 DOM
17. 2026-05-31
    days on market $189,900 Active 82 DOM
18. 2026-05-30
    days on market $189,900 Active 81 DOM
19. 2026-04-28
    price $189,900 757-char remark

    Show marketing remark (757 chars)

    Welcome home to this beautiful 2 bedroom, 2 bath condo in the desirable Ponds of Windsor! The bright, open living space features a cozy fireplace and brand-new waterproof vinyl flooring that flows throughout. Sliding glass doors lead to a private balcony where you can relax and enjoy peaceful views overlooking Morrissey Park. The spacious primary suite offers a full ensuite bath and double closets, providing plenty of storage. A second bedroom and full bath offer flexibility for guests, a home office, or additional living space. Residents also enjoy access to the community pool-perfect for cooling off and relaxing during the warmer months. With its comfortable layout, scenic views, and great amenities, this condo is a wonderful place to call home!

20. 2026-04-08
    price $194,000 757-char remark

    Show marketing remark (757 chars)

    Welcome home to this beautiful 2 bedroom, 2 bath condo in the desirable Ponds of Windsor! The bright, open living space features a cozy fireplace and brand-new waterproof vinyl flooring that flows throughout. Sliding glass doors lead to a private balcony where you can relax and enjoy peaceful views overlooking Morrissey Park. The spacious primary suite offers a full ensuite bath and double closets, providing plenty of storage. A second bedroom and full bath offer flexibility for guests, a home office, or additional living space. Residents also enjoy access to the community pool-perfect for cooling off and relaxing during the warmer months. With its comfortable layout, scenic views, and great amenities, this condo is a wonderful place to call home!

ⓘ 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 ≥103°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,067
• − Mortgage interest: −$10,301
• − Property taxes: −$2,758
• − Insurance: −$920
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − HOA: −$3,000
• − Depreciation: −$5,350
• Taxable loss: −$4,633
• Est. tax savings @ 24.0%: +$1,112
• After-tax cash flow: $-496/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained 2-bedroom, 2-bath condo is move-in ready with good curb appeal and a bright, open floor plan. Minor exterior painting and updating sliding glass doors can further enhance its value.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and can add value
• Rental Replace sliding glass doors — Improves energy efficiency and safety
• Both Install smart home devices — Enhances convenience and can attract tech-savvy renters

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and can add value ↑
• Rental Replace sliding glass doors — Improves energy efficiency and safety ↑
• Both Install smart home devices — Enhances convenience and can attract tech-savvy renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Champaign CUSD 4
• NCES district ID: 1709420
• Math proficiency: 24% ▼ -7.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $45,797
• Composite: 21.66/100
• National rank: #8281
• State rank: #333 of 620 in IL

Livability — Champaign

• Score: 83/100
• State rank: #44
• US rank: #902

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Champaign, IL
• County: Champaign County · 182,148 people
• City population: 96,852
• Metro: Champaign-Urbana, IL
• Population (ZIP): 28,611
• Household income: $70,715
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 1023.0

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 0.61)
• Race & ethnicity: White 57% Black 23% Asian 8% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 5% French/Haitian/Cajun 5% Tagalog/Filipino 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: ▼ -78.19%
• Current HPI: 221.1245
• Rent YoY: ▲ 9.29%
• 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

-2.1% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $189,900 MRED as Distributed by MLS Grid
• 2026-04-08 Price Changed $194,000 MRED as Distributed by MLS Grid