805 W Oregon St · Urbana, IL 61801

$349,900

10 bd · None ba · — sqft · MultiFamily · 22 Days on market

Built 1920

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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
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

BED,DESK,AND DRESSER IN EACH ROOM. LOCATED ONE BLOCK FROM U OF I CAMPUS;10 ROOMS, 4 FULL BATHS, 3 KITCHENS,AND COMMON ROOM;CENTRAL AIR THRU OUT; ZONED R-7;AN INVESTORS DREAM.

Key facts

• Outstanding location
• Near illini grove
• Heart of campus

Tags

• OUTSTANDING LOCATION
• NEAR ILLINI GROVE
• HEART OF CAMPUS
• GREAT PARKING

Property features AI

Finance

• Other: Property located on 805 W Oregon St, Urbana, IL; Directions: Southside of West Oregon near South Lincoln and close to campus
• Financial info: Total monthly income approximately $3,685; Gross income approximately $43,260; Monthly income per 1-bedroom unit roughly $500–$550; Gross Rent Multiplier about 7.91

Exterior

• Home design: Multi-family building (5+ units)
• Construction: Built before 1978
• Exterior features: Lot dimensions: 9032

Interior

• Bedrooms: Ten 1-bedroom units
• Heating & cooling: Radiators
• Interior features: Radiator heating

What this means for you Summary

Snapshot

• This is a 10-bed/?-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $9k ($104k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $350k).
• Recommended offer: $345k (1.5% below list) — sets the bar for market timing.
• Cap rate 36.0% 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 (+4.4%/yr); 63 active listings in the ZIP; lower-income renter base — watch delinquency; 573 units permitted in Champaign County in 2024 (359 in 5+ unit buildings).
• At $14,033/mo this rent would consume 465% 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 $2k of loan paydown is wiped out by about $10k 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 + 4.4% rent growth), your $98k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $344,651 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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 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: 4.01% ✓
• Cap rate: 36.02%
• Cash-on-cash: 106.17%
• DSCR: 5.72
• GRM: 2.1

CMA / ARV

No comps found within radius.

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
802 W Illinois St	0.15mi	11/10.0 (+1)	—	6mo	$530,000	—	71
1008 S Busey Ave	0.22mi	11/6.0 (+1)	—	11mo	$457,500	—	63

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: —
• Equity multiple: 6.26×
• Total profit: $515,624
• Equity at exit: $52,171

10-year hold

• IRR: —
• Equity multiple: 13.71×
• Total profit: $1,245,358
• Equity at exit: $30,253

Cash invested: $97,972 (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: 24.9×

Monthly cashflow live

• Estimated rent: $14,033 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$437 /mo · $5,248/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,947
• Net cashflow: $8,668

Break-even live

Break-even rent $3,061

Max offer price $349,900

Occupancy floor 33%

12-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$14,028
Total (12 units)			$14,033

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $349,900 Active 22 DOM
2. 2026-06-17
   days on market $349,900 Active 21 DOM
3. 2026-06-16
   days on market $349,900 Active 20 DOM
4. 2026-06-15
   days on market $349,900 Active 19 DOM
5. 2026-06-14
   days on market $349,900 Active 17 DOM
6. 2026-06-13
   days on market $349,900 Active 16 DOM
7. 2026-06-10
   days on market $349,900 Active 14 DOM
8. 2026-06-09
   days on market $349,900 Active 13 DOM
9. 2026-06-08
   days on market $349,900 Active 12 DOM
10. 2026-06-07
    days on market $349,900 Active 11 DOM
11. 2026-06-03
    days on market $349,900 Active 7 DOM
12. 2026-06-02
    days on market $349,900 Active 6 DOM
13. 2026-06-01
    days on market $349,900 Active 5 DOM
14. 2026-05-31
    days on market $349,900 Active 4 DOM
15. 2026-05-30
    days on market $349,900 Active 3 DOM
16. 2026-05-27
    listed $349,900 Active
17. 2007-05-24
    soldstatus $320,000 174-char remark

    Show marketing remark (174 chars)

    BED,DESK,AND DRESSER IN EACH ROOM. LOCATED ONE BLOCK FROM U OF I CAMPUS;10 ROOMS, 4 FULL BATHS, 3 KITCHENS,AND COMMON ROOM;CENTRAL AIR THRU OUT; ZONED R-7;AN INVESTORS DREAM.

18. 2006-12-13
    historical 174-char remark

    Show marketing remark (174 chars)

    BED,DESK,AND DRESSER IN EACH ROOM. LOCATED ONE BLOCK FROM U OF I CAMPUS;10 ROOMS, 4 FULL BATHS, 3 KITCHENS,AND COMMON ROOM;CENTRAL AIR THRU OUT; ZONED R-7;AN INVESTORS DREAM.

19. 2006-10-12
    listed $349,900 174-char remark

    Show marketing remark (174 chars)

    BED,DESK,AND DRESSER IN EACH ROOM. LOCATED ONE BLOCK FROM U OF I CAMPUS;10 ROOMS, 4 FULL BATHS, 3 KITCHENS,AND COMMON ROOM;CENTRAL AIR THRU OUT; ZONED R-7;AN INVESTORS DREAM.

20. 2002-07-31
    soldstatus $179,900 254-char remark

    Show marketing remark (254 chars)

    12 UNIT ROOMING HOSUE VERY CLOSE TO EVERYTHING. 12 FURNISHED ROOMS, 4 FULL BATHS AND 3 KITCHENS WITH COMMON AREA FOR GATHERINGS AND SOCIALIZING. WINDOW AC'S ON 3RD FLOOR, OTHERWISE CENTRAL AIR. MUST CALL 417-0565 (BOB) FOR APPOINTMENT AND 24-HOUR NOTICE.

21. 2002-06-28
    historical 254-char remark

    Show marketing remark (254 chars)

    12 UNIT ROOMING HOSUE VERY CLOSE TO EVERYTHING. 12 FURNISHED ROOMS, 4 FULL BATHS AND 3 KITCHENS WITH COMMON AREA FOR GATHERINGS AND SOCIALIZING. WINDOW AC'S ON 3RD FLOOR, OTHERWISE CENTRAL AIR. MUST CALL 417-0565 (BOB) FOR APPOINTMENT AND 24-HOUR NOTICE.

22. 2002-06-23
    listed $179,900 254-char remark

    Show marketing remark (254 chars)

    12 UNIT ROOMING HOSUE VERY CLOSE TO EVERYTHING. 12 FURNISHED ROOMS, 4 FULL BATHS AND 3 KITCHENS WITH COMMON AREA FOR GATHERINGS AND SOCIALIZING. WINDOW AC'S ON 3RD FLOOR, OTHERWISE CENTRAL AIR. MUST CALL 417-0565 (BOB) FOR APPOINTMENT AND 24-HOUR NOTICE.

ⓘ 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 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 · 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: $168,396
• − Mortgage interest: −$19,600
• − Property taxes: −$5,248
• − Insurance: −$1,750
• − Repairs & maintenance: −$13,472
• − Management: −$13,472
• − Depreciation: −$10,179
• Taxable income: $104,676
• Est. tax owed @ 24.0%: −$25,122
• After-tax cash flow: $78,894/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

+94.5% since first listed

7 events — show timeline

• 2026-05-27 Listed $349,900 MRED as Distributed by MLS Grid
• 2007-05-24 Sold (MLS) $320,000 MRED as Distributed by MLS Grid
• 2006-12-13 Listing Removed — MRED as Distributed by MLS Grid
• 2006-10-12 Listed $349,900 MRED as Distributed by MLS Grid
• 2002-07-31 Sold (MLS) $179,900 MRED as Distributed by MLS Grid
• 2002-06-28 Listing Removed — MRED as Distributed by MLS Grid
• 2002-06-23 Listed $179,900 MRED as Distributed by MLS Grid