1796 Independence Ave · Urbana, IL 61802

$90,000

3 bd · 2.0 ba · 1,728 sqft · Manufactured · 172 Days on market

Built 2021 Good condition $525/mo HOA · 27% of rent ↓ 44% since listing

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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 +5.0/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1796 Independence Ave. .. a 2021 Clayton double-wide in the vibrant Liberty Estate Commons. This spacious 3-bedrooms, 2-bath home features two separate living areas, a dedicated laundry room, and a walk-in pantry-perfect for everyday functionality. The private master suite includes a full bath and generous closet space, offering a comfortable retreat. Enjoy community perks like a dog park, clubhouse, and kid-friendly activities, all just steps away. Outside, you'll find a concrete driveaway, a 10x12 attached shed, and wheelchair-accessible entry. With some manufacturer warranty still in place, this home blends peace of mind with modern convenience in the area's most welcoming nei

Key facts

• Private master suite
• Full bath
• Walk-in pantry

Tags

• TWO SEPARATE LIVING AREAS
• DEDICATED LAUNDRY ROOM
• WALK-IN PANTRY
• PRIVATE MASTER SUITE
• FULL BATH
• GENEROUS CLOSET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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, schools 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.
• Market conditions: Rents rising fast (+11.8%/yr); 123 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 573 units permitted in Champaign County in 2024 (359 in 5+ unit buildings).
• This rent runs 38% 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 $622 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 172 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 2.18% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.06%
• DSCR: 1.85
• GRM: 3.8

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: 19.3%
• Equity multiple: 1.86×
• Total profit: $21,605
• Equity at exit: $13,419

10-year hold

• IRR: 32.1%
• Equity multiple: 4.97×
• Total profit: $100,168
• Equity at exit: $7,782

Cash invested: $25,200 (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: 123
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,958 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$525
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $400

Break-even live

Break-even rent $1,452

Max offer price $90,000

Occupancy floor 75%

Sensitivity live

Price	-10% $462	-5% $431	+0% $400	+5% $369	+10% $338
Rent	-10% $245	-5% $323	+0% $400	+5% $478	+10% $555
Rate	-1.0pp $445	-0.5pp $423	base $400	+0.5pp $377	+1.0pp $353

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
709 N Abbey Rd Urbana, IL	4.0	2.5	1800	$3,150	$1.75	45d	1	1.15mi

HOA detail

• Monthly dues: $525 · $6,300/yr

Listing history 21 events

1. 2026-06-18
   days on market $90,000 Active 172 DOM
2. 2026-06-17
   days on market $90,000 Active 171 DOM
3. 2026-06-16
   days on market $90,000 Active 170 DOM
4. 2026-06-15
   days on market $90,000 Active 169 DOM
5. 2026-06-14
   days on market $90,000 Active 167 DOM
6. 2026-06-13
   days on market $90,000 Active 166 DOM
7. 2026-06-10
   days on market $90,000 Active 164 DOM
8. 2026-06-09
   days on market $90,000 Active 163 DOM
9. 2026-06-08
   days on market $90,000 Active 162 DOM
10. 2026-06-07
    days on market $90,000 Active 161 DOM
11. 2026-06-03
    days on market $90,000 Active 157 DOM
12. 2026-06-02
    days on market $90,000 Active 156 DOM
13. 2026-06-01
    days on market $90,000 Active 155 DOM
14. 2026-05-31
    days on market $90,000 Active 154 DOM
15. 2026-05-30
    pricestatusdays on market $90,000 Active 153 DOM
16. 2026-04-06
    price $100,000
17. 2026-02-16
    price $110,000
18. 2025-12-15
    listed $120,000 Active
19. 2025-08-28
    listed $150,000 Active
20. 2025-07-14
    price $160,000
21. 2025-07-01
    listed $180,000 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 5/10 Major FEMA zone X (unshaded) · 48% 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: $23,501
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,880
• − Management: −$1,880
• − HOA: −$6,300
• − Depreciation: −$2,618
• Taxable income: $3,981
• Est. tax owed @ 24.0%: −$955
• After-tax cash flow: $3,847/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 2021 Clayton double-wide is in excellent condition with modern finishes and a spacious layout. It's move-in ready with minor maintenance items to address.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and value
• Both Replace carpet with hardwood — Improves aesthetics and is easier to maintain
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood — Improves aesthetics and is easier to maintain ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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: 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

• 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

-44.4% since first listed

6 events — show timeline

• 2026-04-06 Price Changed $100,000 CIBR
• 2026-02-16 Price Changed $110,000 CIBR
• 2025-12-15 Listed $120,000 CIBR
• 2025-08-28 Listed $150,000 CIBR
• 2025-07-14 Price Changed $160,000 CIBR
• 2025-07-01 Listed $180,000 CIBR