2001 S Mattis Ave Unit E · Champaign, IL 61821

$99,000

2 bd · 1.0 ba · 870 sqft · Condo · 300 Days on market

Built 1988 $139/mo HOA · 9% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.8/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Conveniently Located 2 Bedroom 1 Bath Move-in Ready Condo! Close to University of Illinois. Large living room and master bedroom. There are 2 balconies on each side of unit, one off of dining room and one off living room. Master Bedroom has double closets for large storage. Washer/Dryer available one first floor for use by owner. Parking available is for residents and guests.

Key facts

• Double closets
• Parking available
• 2 balconies

Tags

• 2 BALCONIES
• DOUBLE CLOSETS
• PARKING AVAILABLE

Property features AI

Finance

• HOA & community: Monthly association fee of $139; Association fee covers parking, insurance, exterior maintenance, and snow removal; Manager off-site; On-site amenities include coin laundry and storage; Pets allowed (cats and dogs) up to about 50 lbs

Exterior

• Parking: Two parking spaces (unassigned)
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Attached single condo; Entry level 3; One story (main living on same level)
• Construction: Built approximately 31–40 years ago; Construction materials: other
• Exterior features: Condominium setting

Interior

• Kitchen: Galley-style kitchen; Range; Dishwasher; Refrigerator
• Bedrooms: Two bedrooms (both on main level); Primary bedroom on main level with wood laminate flooring
• Flooring: Wood laminate flooring in living room, dining room, and bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five total rooms; Separate dining room
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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: Centennial High School (math 26% / reading 27%, grade F, #241 of 693 statewide, top 35%, 1,444 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); 89 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $684 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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 300 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 300 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 1.53% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.19%
• DSCR: 1.72
• GRM: 5.4

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: 13.4%
• Equity multiple: 1.57×
• Total profit: $15,888
• Equity at exit: $14,761

10-year hold

• IRR: 26.3%
• Equity multiple: 3.94×
• Total profit: $81,387
• Equity at exit: $8,560

Cash invested: $27,720 (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: 89
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$139
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $374

Break-even live

Break-even rent $1,042

Max offer price $99,000

Occupancy floor 70%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1915 S Mattis Ave Champaign, IL	1.0–3.0	1.0–2.0	971	$1,762	$1.81	13d	11	0.04mi
1902 Meadow Dr Champaign, IL	3.0	1.0	898	$1,750	$1.95	13d	1	0.58mi
2406 Leeper Dr Unit Aceves 1 Champaign, IL	2.0	1.5	950	$3,000	$3.16	13d	1	0.59mi
1802 W William St Unit 1804-6 Champaign, IL	2.0	1.5	805	$925	$1.15	13d	1	1.09mi
800 S Mattis Ave Unit A-1 Champaign, IL	1.0	1.0	570	$825	$1.45	44d	1	1.17mi
801 Hollycrest Dr Unit 4 Champaign, IL	2.0	1.0	775	$1,054	$1.36	44d	1	1.22mi
801 Hollycrest Dr Unit 3 Champaign, IL	2.0	1.0	700	$1,054	$1.51	13d	1	1.22mi
2003 W John St Champaign, IL	2.0	1.0	700	$850	$1.21	13d	1	1.26mi
1924 Melrose Dr Unit C Champaign, IL	3.0	1.0	1039	$1,800	$1.73	13d	1	1.35mi
910 S Duncan Rd Champaign, IL	3.0	1.0	1050	$1,400	$1.33	44d	1	1.42mi

HOA detail condo

• Monthly dues: $139 · $1,668/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-19
   status $99,000 Pending 300 DOM
2. 2026-06-18
   days on market $99,000 Active 300 DOM
3. 2026-06-18
   status $99,000 Active 299 DOM
4. 2026-06-17
   days on market $99,000 Contingent - Continue to Show 299 DOM
5. 2026-06-16
   days on market $99,000 Contingent - Continue to Show 298 DOM
6. 2026-06-15
   days on market $99,000 Contingent - Continue to Show 297 DOM
7. 2026-06-14
   days on market $99,000 Contingent - Continue to Show 295 DOM
8. 2026-06-13
   days on market $99,000 Contingent - Continue to Show 294 DOM
9. 2026-06-10
   days on market $99,000 Contingent - Continue to Show 292 DOM
10. 2026-06-09
    days on market $99,000 Contingent - Continue to Show 291 DOM
11. 2026-06-08
    days on market $99,000 Contingent - Continue to Show 290 DOM
12. 2026-06-07
    days on market $99,000 Contingent - Continue to Show 289 DOM
13. 2026-06-05
    days on market $99,000 Contingent - Continue to Show 286 DOM
14. 2026-06-03
    days on market $99,000 Contingent - Continue to Show 285 DOM
15. 2026-06-02
    days on market $99,000 Contingent - Continue to Show 284 DOM
16. 2026-06-01
    days on market $99,000 Contingent - Continue to Show 283 DOM
17. 2026-05-31
    days on market $99,000 Contingent - Continue to Show 282 DOM
18. 2026-05-30
    days on market $99,000 Contingent - Continue to Show 281 DOM
19. 2026-04-25
    historical Contingent - Continue to Show
20. 2025-08-22
    listed $99,000 Active

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 74% 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: $18,183
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − HOA: −$1,668
• − Depreciation: −$2,880
• Taxable income: $3,200
• Est. tax owed @ 24.0%: −$768
• After-tax cash flow: $3,719/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: 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 events — show timeline

• 2026-04-25 Contingent — MRED as Distributed by MLS Grid
• 2025-08-22 Listed $99,000 MRED as Distributed by MLS Grid