205 S Grove St · Urbana, IL 61802

$129,900

3 bd · 1.5 ba · 1,349 sqft · Other · 6 Days on market

Built 1908 3,920 sqft lot

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• 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

• Easy access to parks
• 3,920 sq ft lot
• Built 1908

Tags

• HIGHLY CONVENIENT LOCATION
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO BUS LINES
• EASY ACCESS TO PARKS
• EASY ACCESS TO U OF I
• EASY ACCESS TO HOSPITALS

Property features AI

Finance

• Other: Parcel number 922117235010
• HOA & community: No master association fee required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Over 100 years old; Living area based on plans
• Construction: Wood siding and other construction materials; Not rebuilt or rehabbed
• Exterior features: Lot dimensions approximately 63 x 69; Less than 0.25 acre lot; School bus service and commuter bus access

Interior

• Kitchen: Kitchen on the main level (10 x 13)
• Bedrooms: 3 bedrooms total; Master bedroom on the second level (11 x 12) with a half-bath; Second bedroom on the second level (11 x 15); Third bedroom on the main level (11 x 15); Additional bedroom listing (type present)
• Flooring: Laminate flooring in the living room
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating
• Interior features: 8 total rooms; Crawl space basement; Attic (second level, 16 x 27)
• Laundry & utility: Laundry room on the main level (5 x 8)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $130k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.1% 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: Leal Elem School (math 17% / reading 12%, grade F, #1,278 of 2,056 statewide, top 65%, 391 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 573 units permitted in Champaign County in 2024 (359 in 5+ unit buildings).
• This rent runs 33% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 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 $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $25k; list at $130k implies a 413% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1908 — 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: 1.29% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.67%
• DSCR: 1.61
• GRM: 6.4

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: 9.4%
• Equity multiple: 1.39×
• Total profit: $14,259
• Equity at exit: $19,369

10-year hold

• IRR: 22.4%
• Equity multiple: 3.39×
• Total profit: $86,960
• Equity at exit: $11,231

Cash invested: $36,372 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,680 high
• Mortgage (P&I): −$681
• Tax from tax record: −$178 /mo · $2,132/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $414

Break-even live

Break-even rent $1,156

Max offer price $129,900

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 S Vine St Unit 128 Urbana, IL	2.0	2.5	1292	$1,795	$1.39	21d	1	0.15mi
502 E Washington St Urbana, IL	3.0	2.0	1667	$2,000	$1.20	21d	1	0.35mi
1604 S Maple St Urbana, IL	3.0	2.5	1660	$2,195	$1.32	44d	1	0.84mi
1109 Austin Dr Urbana, IL	3.0	1.0	1300	$1,350	$1.04	21d	1	0.94mi
1032 E Kerr Ave Urbana, IL	1.0–2.0	1.0–2.0	777	$1,430	$1.84	13d	46	0.97mi
1806 S Cottage Grove Ave Urbana, IL	2.0–3.0	1.5–2.0	1000	$1,295	$1.29	13d	3	1.12mi
1601 E Florida Ave Urbana, IL	2.0–3.0	2.0–3.0	949	$1,459	$1.54	13d	1	1.13mi
615 E Colorado Ave Unit B Urbana, IL	3.0	1.5	1056	$1,495	$1.42	13d	1	1.15mi
615 E Colorado Ave Unit B Urbana, IL	3.0	1.5	1056	$1,395	$1.32	44d	1	1.15mi
1202 N Lincoln Ave Urbana, IL	3.0	1.0	1150	$1,395	$1.21	21d	1	1.22mi
1907 E Florida Ave Unit A Urbana, IL	3.0	1.5	1250	$1,550	$1.24	21d	1	1.31mi
1907 E Florida Ave Urbana, IL	3.0	2.0	1250	$1,550	$1.24	21d	1	1.31mi
2307 Lantern Hill Dr Urbana, IL	3.0	1.0	905	$1,500	$1.66	44d	1	1.38mi
1304 Christopher Cir Urbana, IL	2.0	1.0	970	$1,250	$1.29	21d	1	1.41mi
1304 Christopher Cir Urbana, IL	2.0	1.0	970	$1,300	$1.34	44d	1	1.41mi
26 Ivanhoe Dr Urbana, IL	2.0	2.0	896	$935	$1.04	13d	1	1.41mi

Listing history 5 events

1. 2026-06-18
   days on market $129,900 Active 6 DOM
2. 2026-06-17
   days on market $129,900 Active 5 DOM
3. 2026-06-16
   days on market $129,900 Active 4 DOM
4. 2026-06-15
   days on market $129,900 Active 3 DOM
5. 2026-06-13
   listed $129,900 Active 1 DOM

ⓘ 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: $2,132 · $178/mo
• Projected year-2 tax: $2,540 · $212/mo
• Expected delta: +$408/yr (+$34/mo · 19.2%)

ⓘ 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 · 18 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: $20,163
• − Mortgage interest: −$7,276
• − Property taxes: −$2,132
• − Insurance: −$650
• − Repairs & maintenance: −$1,613
• − Management: −$1,613
• − Depreciation: −$3,779
• Taxable income: $3,100
• Est. tax owed @ 24.0%: −$744
• After-tax cash flow: $4,229/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

Price history

+412.8% since first listed

2 events — show timeline

• 2026-06-11 Listed $129,900 MRED as Distributed by MLS Grid
• 1997-08-19 Sold (Public Records) $25,333 Public Records

Property tax history

-2.1%/yr

Latest (2024): $2,132 · +6.3% YoY. Source: county tax records.