2608 Florida Ave · Urbana, IL 61802

$219,900

3 bd · 2.0 ba · 2,158 sqft · SingleFamily · 25 Days on market

Built 2002 5,878 sqft lot Est $293k · 25% under

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Why this score? — see what drove the C+ 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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.7/10.0
• 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

Beautifully updated home in the sought-after Savanna Green subdivision! Tucked away at the end of the street for added privacy, this move-in ready home offers stunning golf course views and a fenced backyard designed for outdoor enjoyment with an immaculate two-level deck perfect for entertaining or relaxing. Inside, fresh paint and numerous updates create a bright, modern feel, including updated kitchen cabinets, countertops, subway tile backsplash, and sink. The upstairs bathroom was tastefully renovated 3-4 years ago, and exterior doors have been replaced within the last two years. The fully finished basement adds exceptional living space with a large rec room, full bath, and potential 4th bedroom ideal for guests, a home office, or workout area. Major updates include roof, siding, and gutters in 2021 plus furnace and AC in 2024. Conveniently located near shopping, dining, and amenities!

Key facts

• Renovated bathroom
• Two-level deck
• Golf course views

Tags

• GOLF COURSE VIEWS
• FENCED BACKYARD
• TWO-LEVEL DECK
• UPDATED KITCHEN CABINETS
• SUBWAY TILE BACKSPLASH
• RENOVATED BATHROOM

Property features AI

Finance

• Other: Property tax exemptions: Homeowner
• HOA & community: Annual association fee of $90 (includes other services)

Exterior

• Parking: Detached garage (owned) with concrete driveway; Two covered garage spaces; two parking spaces total
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout with finished lower level; Fee simple ownership
• Construction: Vinyl siding; Property built approximately 21–25 years ago; Finished basement
• Exterior features: Deck; Patio; Fenced yard; Mature trees

Interior

• Kitchen: Range; Microwave; Dishwasher; Garbage disposal
• Bedrooms: Master bedroom on main level (12 x 13); Two additional main-level bedrooms (each about 10 x 9); Basement bonus room (16 x 10) — can be used as extra bedroom/rec room
• Flooring: Laminate flooring in main living areas; Carpet in bedrooms, family room, and bonus spaces
• Bathrooms: Two full bathrooms (one on main level; basement includes a bathroom)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fans
• Interior features: First-floor bedroom; First-floor full bathroom; Finished full basement; Eight total rooms
• Laundry & utility: Washer and dryer; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 (+11.8%/yr); 122 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 573 units permitted in Champaign County in 2024 (359 in 5+ unit buildings).
• At $2,576/mo this rent would consume 50% of the median local household income ($62k/yr) (locally 809% 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 $2k of loan paydown is wiped out by about $7k 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 $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $128k; list at $220k implies a 72% gain — meaningful room to come down on a strong offer.

Recommended offer $216,601 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.17% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.79%
• DSCR: 1.35
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $293,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1501 Abercorn St	0.11mi	4/2.5 (+1)	2,210 (+2%)	6mo	$230,000	$104	79
1322 Montgomery St	0.23mi	4/3.5 (+1)	2,212 (+2%)	0mo	$301,500	$136	74
1511 Ogelthorpe Ave	0.13mi	4/2.5 (+1)	2,000 (-7%)	3mo	$290,000	$145	73
1603 Ogelthorpe Ave	0.12mi	3/3.0	1,901 (-12%)	0mo	$285,000	$150	70
1416 S Abercorn St	0.16mi	3/2.5	2,056 (-5%)	18mo	$251,500	$122	68
1417 Montgomery St	0.15mi	4/2.5 (+1)	2,230 (+3%)	17mo	$270,000	$121	66
1418 Ogelthorpe Ave	0.17mi	3/3.5	1,902 (-12%)	5mo	$235,000	$124	62
1303 Montgomery St	0.31mi	3/2.5	1,860 (-14%)	0mo	$258,000	$139	60
1933 S Stone Creek Blvd	0.52mi	3/2.5	1,975 (-8%)	2mo	$470,000	$238	58
1413 Oglethorpe Ave	0.19mi	4/2.5 (+1)	2,300 (+7%)	21mo	$230,000	$100	56
1709 Stone Creek Blvd	0.22mi	4/2.0 (+1)	1,890 (-12%)	17mo	$423,000	$224	50
1906 E Vermont Ave	0.60mi	4/2.0 (+1)	1,915 (-11%)	15mo	$210,000	$110	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.06×
• Total profit: $3,533
• Equity at exit: $32,788

10-year hold

• IRR: 15.7%
• Equity multiple: 2.60×
• Total profit: $98,248
• Equity at exit: $19,013

Cash invested: $61,572 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,576 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$391 /mo · $4,690/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $399

Break-even live

Break-even rent $2,070

Max offer price $219,900

Occupancy floor 79%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1717 S Stone Creek Blvd Urbana, IL	3.0	3.5	1986	$3,400	$1.71	13d	1	0.25mi
709 N Abbey Rd Urbana, IL	4.0	2.5	1800	$3,150	$1.75	43d	1	1.44mi

Listing history 31 events

1. 2026-06-15
   statusdays on marketlisting id $219,900 Pending 25 DOM
2. 2026-06-14
   days on market $219,900 Contingent - Continue to Show 26 DOM
3. 2026-06-13
   days on market $219,900 Contingent - Continue to Show 25 DOM
4. 2026-06-10
   days on market $219,900 Contingent - Continue to Show 23 DOM
5. 2026-06-09
   days on market $219,900 Contingent - Continue to Show 22 DOM
6. 2026-06-08
   days on market $219,900 Contingent - Continue to Show 21 DOM
7. 2026-06-07
   days on market $219,900 Contingent - Continue to Show 20 DOM
8. 2026-06-03
   days on market $219,900 Contingent - Continue to Show 16 DOM
9. 2026-06-02
   days on market $219,900 Contingent - Continue to Show 15 DOM
10. 2026-06-01
    days on market $219,900 Contingent - Continue to Show 14 DOM
11. 2026-05-31
    days on market $219,900 Contingent - Continue to Show 13 DOM
12. 2026-05-30
    days on market $219,900 Contingent - Continue to Show 12 DOM
13. 2026-05-21
    listed $219,900 Active 903-char remark

    Show marketing remark (903 chars)

    Beautifully updated home in the sought-after Savanna Green subdivision! Tucked away at the end of the street for added privacy, this move-in ready home offers stunning golf course views and a fenced backyard designed for outdoor enjoyment with an immaculate two-level deck perfect for entertaining or relaxing. Inside, fresh paint and numerous updates create a bright, modern feel, including updated kitchen cabinets, countertops, subway tile backsplash, and sink. The upstairs bathroom was tastefully renovated 3-4 years ago, and exterior doors have been replaced within the last two years. The fully finished basement adds exceptional living space with a large rec room, full bath, and potential 4th bedroom ideal for guests, a home office, or workout area. Major updates include roof, siding, and gutters in 2021 plus furnace and AC in 2024. Conveniently located near shopping, dining, and amenities!

14. 2026-05-19
    listed $219,900 Active
15. 2017-09-05
    soldstatus $128,000
16. 2017-09-01
    soldstatus $128,000 Closed Sale 600-char remark

    Show marketing remark (600 chars)

    Fabulous home in popular Savanna Green! BRAND NEW floors on the main level, updated kitchen, fenced in yard and an immaculate 2-level deck for enjoying the summer nights! The house sits at the far end of the street, offering a little more privacy than others in the area. Fully finished basement offers an additional living space, potential 4th bedroom, and a full bath. Other updates include fresh paint, new vanity and updated landscaping. Don't miss this rare opportunity to purchase a home that sits directly across from the golf course, and is conveniently located near shopping and restaurants.

17. 2017-06-30
    historical 600-char remark

    Show marketing remark (600 chars)

    Fabulous home in popular Savanna Green! BRAND NEW floors on the main level, updated kitchen, fenced in yard and an immaculate 2-level deck for enjoying the summer nights! The house sits at the far end of the street, offering a little more privacy than others in the area. Fully finished basement offers an additional living space, potential 4th bedroom, and a full bath. Other updates include fresh paint, new vanity and updated landscaping. Don't miss this rare opportunity to purchase a home that sits directly across from the golf course, and is conveniently located near shopping and restaurants.

18. 2017-05-26
    listed $129,900 600-char remark

    Show marketing remark (600 chars)

    Fabulous home in popular Savanna Green! BRAND NEW floors on the main level, updated kitchen, fenced in yard and an immaculate 2-level deck for enjoying the summer nights! The house sits at the far end of the street, offering a little more privacy than others in the area. Fully finished basement offers an additional living space, potential 4th bedroom, and a full bath. Other updates include fresh paint, new vanity and updated landscaping. Don't miss this rare opportunity to purchase a home that sits directly across from the golf course, and is conveniently located near shopping and restaurants.

19. 2015-04-17
    soldstatus $124,000
20. 2015-04-15
    soldstatus $124,000
21. 2015-03-06
    historical
22. 2015-03-03
    listed $125,000
23. 2012-08-02
    soldstatus $122,000
24. 2004-10-12
    soldstatus $124,000
25. 2004-10-07
    soldstatus $123,900
26. 2004-09-08
    historical
27. 2004-09-01
    listed $124,900
28. 2002-07-16
    soldstatus $103,000
29. 2002-07-15
    soldstatus $102,900
30. 2002-03-13
    historical
31. 2002-03-13
    listed $102,900

ⓘ 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: $4,690 · $391/mo
• Projected year-2 tax: $4,841 · $403/mo
• Expected delta: +$151/yr (+$13/mo · 3.2%)

ⓘ 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 · 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: $30,913
• − Mortgage interest: −$12,318
• − Property taxes: −$4,690
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,473
• − Management: −$2,473
• − Depreciation: −$6,397
• Taxable income: $1,463
• Est. tax owed @ 24.0%: −$351
• After-tax cash flow: $4,443/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

+113.7% since first listed

19 events — show timeline

• 2026-05-21 Listed $219,900 CIBR
• 2026-05-19 Listed $219,900 MRED as Distributed by MLS Grid
• 2017-09-05 Sold (Public Records) $128,000 Public Records
• 2017-09-01 Sold (MLS) $128,000 MRED as Distributed by MLS Grid
• 2017-06-30 Listing Removed — MRED as Distributed by MLS Grid
• 2017-05-26 Listed $129,900 MRED as Distributed by MLS Grid
• 2015-04-17 Sold (Public Records) $124,000 Public Records
• 2015-04-15 Sold (MLS) $124,000 MRED as Distributed by MLS Grid
• 2015-03-06 Listing Removed — MRED as Distributed by MLS Grid
• 2015-03-03 Listed $125,000 MRED as Distributed by MLS Grid
• 2012-08-02 Sold (Public Records) $122,000 Public Records
• 2004-10-12 Sold (Public Records) $124,000 Public Records
• 2004-10-07 Sold (MLS) $123,900 MRED as Distributed by MLS Grid
• 2004-09-08 Listing Removed — MRED as Distributed by MLS Grid
• 2004-09-01 Listed $124,900 MRED as Distributed by MLS Grid
• 2002-07-16 Sold (Public Records) $103,000 Public Records
• 2002-07-15 Sold (MLS) $102,900 MRED as Distributed by MLS Grid
• 2002-03-13 Listed $102,900 MRED as Distributed by MLS Grid
• 2002-03-13 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2024): $4,690 · +7.6% YoY. Source: county tax records.