1401 S Cottage Grove Ave · Urbana, IL 61801

$147,000

3 bd · 1.0 ba · 890 sqft · SingleFamily · 4 Days on market

Built 1952 6,432 sqft lot Est $150k · at est.

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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 +14.2/30.0
• ARV discount +8.3/15.0
• 1% rule +4.5/10.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is a must SEE. All new flooring, all new kitchen cabinets, sink, and counters. All new name brand stainless steel appliances including: refrigerator, gas range, microwave, dishwasher and even a garbage disposal. All new PELLA windows. New lighting throughout. New siding on front and new shutters along with a brand new overhead garage door. Newly landscaped with a newer furnace, AC, and roof. Close to shopping, restaurants, schools, bus line, and the University of Illinois. Listing agent is relative of seller. Taxes do not reflect any exemptions. Ask about $10,000 Urbana Dream Downpayment Program for eligible buyers!!!

Key facts

• New siding
• New flooring
• New roof

Tags

• NEW FLOORING
• NEW SIDING
• NEW ROOF
• NEW BATHROOM FIXTURES
• FRESHLY PAINTED INTERIOR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $147k.

Deal economics

• At list price, monthly cash flow is $25 ($303/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (5.4% below list).
• Recommended offer: $139k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Wiley Elementary School (math 5% / reading 5%, grade F, #1,741 of 2,056 statewide, top 93%, 234 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 (+4.4%/yr); 63 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 573 units permitted in Champaign County in 2024 (359 in 5+ unit buildings).
• At $1,391/mo this rent would consume 46% of the median local household income ($36k/yr) (locally 2719% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y ago; this cycle's ask is 73% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $83k; list at $147k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,076 (5.4% below list)

Questions for the listing agent

1. Built in 1952 — 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. 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?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $149,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1005 E Michigan Ave	0.05mi	3/1.0	889 (-0%)	4mo	$159,000	$179	94
1104 E Delaware Ave	0.10mi	3/1.0	845 (-5%)	1mo	$94,000	$111	86
1212 E Pennsylvania Ave	0.14mi	2/1.0 (-1)	906 (+2%)	1mo	$150,000	$166	84
1105 Eastern Dr	0.24mi	3/2.0	830 (-7%)	4mo	$210,000	$253	70
1112 Lanore Dr	0.52mi	3/1.0	925 (+4%)	1mo	$145,000	$157	68
1814 Larch Pl	0.37mi	3/2.0	930 (+4%)	4mo	$156,000	$168	68
804 E Michigan Ave	0.14mi	2/1.0 (-1)	761 (-14%)	3mo	$130,000	$171	62
502 E Washington St	0.49mi	3/2.0	949 (+7%)	3mo	$195,000	$205	60
1905 Rainbow Vw	0.65mi	3/1.0	961 (+8%)	5mo	$100,000	$104	52
108 W Vermont Ave	0.65mi	3/1.0	975 (+10%)	5mo	$175,000	$179	49
310 S Cottage Grove Ave	0.66mi	2/1.0 (-1)	983 (+10%)	4mo	$124,900	$127	44
212 Hartle Ave	0.74mi	3/1.0	994 (+12%)	3mo	$125,000	$126	43

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 · 4.4% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.51×
• Total profit: $-20,172
• Equity at exit: $21,918

10-year hold

• IRR: -2.3%
• Equity multiple: 0.83×
• Total profit: $-6,881
• Equity at exit: $12,710

Cash invested: $41,160 (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 61801

• Home prices YoY: -27.4%
• Rents YoY: 4.4%
• Active inventory: 63
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,391 high
• Mortgage (P&I): −$771
• Tax from tax record: −$241 /mo · $2,896/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $25

Break-even live

Break-even rent $1,359

Max offer price $147,000

Occupancy floor 93%

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: $36,750
• Closing costs: $4,410
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
804 E Michigan Ave Urbana, IL	2.0	1.0	761	$1,325	$1.74	43d	1	0.13mi
1201 S Lynn St Urbana, IL	2.0	1.0	747	$1,350	$1.81	44d	1	0.21mi
1806 S Cottage Grove Ave Urbana, IL	2.0–3.0	1.5–2.0	1000	$1,295	$1.29	13d	3	0.37mi
306 E Michigan Ave Urbana, IL	2.0	1.5	800	$1,100	$1.38	20d	1	0.41mi
1507 E Washington St Urbana, IL	2.0	1.0	850	$950	$1.12	43d	1	0.41mi
1601 E Florida Ave Urbana, IL	2.0–3.0	2.0–3.0	949	$1,459	$1.54	13d	1	0.42mi
615 E Colorado Ave Unit B Urbana, IL	3.0	1.5	1056	$1,395	$1.32	43d	1	0.48mi
615 E Colorado Ave Unit B Urbana, IL	3.0	1.5	1056	$1,495	$1.42	13d	1	0.48mi
503 S Urbana Ave Apt C Urbana, IL	2.0	1.5	775	$1,250	$1.61	43d	1	0.69mi
503 S Urbana Ave Urbana, IL	2.0	1.5	775	$1,275	$1.65	13d	2	0.69mi
2307 Lantern Hill Dr Urbana, IL	3.0	1.0	905	$1,500	$1.66	43d	1	1.02mi
904 N Broadway Ave Urbana, IL	2.0	1.0	825	$972	$1.18	20d	1	1.46mi
104 N Lincoln Ave Urbana, IL	4.0	2.0	867	$469	$0.54	43d	1	1.48mi

Listing history 9 events

1. 2026-06-16
   days on marketlisting id $147,000 Pending 4 DOM
2. 2014-02-24
   soldstatus $83,000
3. 2014-02-14
   soldstatus $83,000 642-char remark

   Show marketing remark (642 chars)

   This home is a must SEE. All new flooring, all new kitchen cabinets, sink, and counters. All new name brand stainless steel appliances including: refrigerator, gas range, microwave, dishwasher and even a garbage disposal. All new PELLA windows. New lighting throughout. New siding on front and new shutters along with a brand new overhead garage door. Newly landscaped with a newer furnace, AC, and roof. Close to shopping, restaurants, schools, bus line, and the University of Illinois. Listing agent is relative of seller. Taxes do not reflect any exemptions. Ask about $10,000 Urbana Dream Downpayment Program for eligible buyers!!!

4. 2013-12-10
   historical 642-char remark

   Show marketing remark (642 chars)

   This home is a must SEE. All new flooring, all new kitchen cabinets, sink, and counters. All new name brand stainless steel appliances including: refrigerator, gas range, microwave, dishwasher and even a garbage disposal. All new PELLA windows. New lighting throughout. New siding on front and new shutters along with a brand new overhead garage door. Newly landscaped with a newer furnace, AC, and roof. Close to shopping, restaurants, schools, bus line, and the University of Illinois. Listing agent is relative of seller. Taxes do not reflect any exemptions. Ask about $10,000 Urbana Dream Downpayment Program for eligible buyers!!!

5. 2013-11-07
   listed $84,900 642-char remark

   Show marketing remark (642 chars)

   This home is a must SEE. All new flooring, all new kitchen cabinets, sink, and counters. All new name brand stainless steel appliances including: refrigerator, gas range, microwave, dishwasher and even a garbage disposal. All new PELLA windows. New lighting throughout. New siding on front and new shutters along with a brand new overhead garage door. Newly landscaped with a newer furnace, AC, and roof. Close to shopping, restaurants, schools, bus line, and the University of Illinois. Listing agent is relative of seller. Taxes do not reflect any exemptions. Ask about $10,000 Urbana Dream Downpayment Program for eligible buyers!!!

6. 2013-10-08
   soldstatus $40,000 216-char remark

   Show marketing remark (216 chars)

   Home has newer roof, AC, furnace and updated electrical. Easy property to make some instant equity. 6 foot privacy fence around entire back yard. Property is AS-IS. Needs new carpet, paint, and kitchen appliances.

7. 2013-09-11
   historical 216-char remark

   Show marketing remark (216 chars)

   Home has newer roof, AC, furnace and updated electrical. Easy property to make some instant equity. 6 foot privacy fence around entire back yard. Property is AS-IS. Needs new carpet, paint, and kitchen appliances.

8. 2013-09-01
   listed $48,000 216-char remark

   Show marketing remark (216 chars)

   Home has newer roof, AC, furnace and updated electrical. Easy property to make some instant equity. 6 foot privacy fence around entire back yard. Property is AS-IS. Needs new carpet, paint, and kitchen appliances.

9. 2011-11-15
   soldstatus $52,500

ⓘ 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: $2,896 · $241/mo
• Projected year-2 tax: $3,117 · $260/mo
• Expected delta: +$220/yr (+$18/mo · 7.6%)

ⓘ 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 ≥103°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: $16,689
• − Mortgage interest: −$8,234
• − Property taxes: −$2,896
• − Insurance: −$735
• − Repairs & maintenance: −$1,335
• − Management: −$1,335
• − Depreciation: −$4,276
• Taxable loss: −$2,123
• Est. tax savings @ 24.0%: +$510
• After-tax cash flow: $812/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): 27,891
• Household income: $36,180
• Rent vs Own: 66.7% rent · 33.3% own
• Severe rent burden: 2719.0

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 0.65)
• Race & ethnicity: White 54% Asian 17% Black 16% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 1%
• Foreign-born: 20% · China, Canada, Jamaica
• Languages at home: 74% English-only · Chinese 8% Spanish 6% Other Indo-European 4%

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: ▼ -83.21%
• Current HPI: 220.7438
• Rent YoY: ▲ 4.40%
• 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

+58.1% since first listed

8 events — show timeline

• 2014-02-24 Sold (Public Records) $83,000 Public Records
• 2014-02-14 Sold (MLS) $83,000 MRED as Distributed by MLS Grid
• 2013-12-10 Listing Removed — MRED as Distributed by MLS Grid
• 2013-11-07 Listed $84,900 MRED as Distributed by MLS Grid
• 2013-10-08 Sold (MLS) $40,000 MRED as Distributed by MLS Grid
• 2013-09-11 Listing Removed — MRED as Distributed by MLS Grid
• 2013-09-01 Listed $48,000 MRED as Distributed by MLS Grid
• 2011-11-15 Sold (Public Records) $52,500 Public Records

Property tax history

+3.0%/yr

Latest (2024): $2,896 · +8.5% YoY. Source: county tax records.