407 E Grove St · Champaign, IL 61820

$79,000

2 bd · 1.0 ba · 0 sqft · SingleFamily public records · 7 Days on market

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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 +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Such a cute 2 bedroom/1 bathroom ready for an owner user or an investor! Great opportunity either way you go. According to the city of Champaign, you can add an 800sqft ADU to the property without a public process involved. You can add on to the existing home or create a detached 800sqft home with no additional zoning approval. Some of the updates are a newer roof, updated electrical panel, central heat and a/c and the sewer line was replaced to the back alley. Large lot with a lot of potential.

Key facts

• 4 parking spots

Property features AI

Finance

• Other: Some photos are virtually staged
• HOA & community: No master association fee required

Exterior

• Parking: Owned parking for 4 vehicles
• Utilities: Electric with circuit breakers
• Home design: Detached single-family home; Single-story

Interior

• Bedrooms: Master bedroom; Additional bedrooms (2 total)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Living room; Family room; Dining room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Cap rate 13.1% vs local median 3.8% in Champaign — 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 83/100 on livability (#44 in IL, #902 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F.
• Champaign CUSD 4 (urban): math 24% / reading 26% proficiency, ranked #333 of 620 in IL (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.6%/yr); 51 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 $1,259/mo this rent would consume 55% of the median local household income ($28k/yr) (locally 4754% 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 $546 of loan paydown is wiped out by about $2k 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 + 4.6% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $79,000

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. 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?
3. 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.
4. 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.
5. 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: 1.59% ✓
• Cap rate: 13.11%
• Cash-on-cash: 24.34%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 E Columbia Ave	0.22mi	2/1.0	792	8mo	$65,000	$82	71
1101 N Market St	0.40mi	2/2.0	1,407	3mo	$60,000	$43	62
38 E Beardsley Ave	0.51mi	2/1.0	883	2mo	$220,000	$249	62
51 E Bradley Ave	0.51mi	3/1.0 (+1)	1,141	2mo	$75,000	$66	57
917 N Harvey St	0.57mi	2/1.0	741	8mo	$95,000	$128	54
1204 N Goodwin Ave	0.48mi	3/2.0 (+1)	1,025	6mo	$85,000	$83	51
1310 1/2 N Champaign St	0.58mi	3/1.0 (+1)	1,064	8mo	$70,000	$66	49
1109 Fairview Ave	0.57mi	3/2.0 (+1)	1,348	4mo	$68,000	$50	49
1404 N Hickory St	0.70mi	3/1.0 (+1)	900	2mo	$135,000	$150	48
1411 N Champaign St	0.67mi	3/1.0 (+1)	832	5mo	$58,000	$70	47
1212 N Walnut St	0.56mi	3/2.0 (+1)	1,744	7mo	$127,900	$73	46
207 W Beardsley Ave	0.74mi	3/1.5 (+1)	1,994	6mo	$56,500	$28	40

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 · 4.62% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.81×
• Total profit: $17,883
• Equity at exit: $11,779

10-year hold

• IRR: 28.9%
• Equity multiple: 3.77×
• Total profit: $61,295
• Equity at exit: $6,830

Cash invested: $22,120 (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 61820

• Home prices YoY: -31.9%
• Rents YoY: 4.6%
• Active inventory: 51
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,259 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $449

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 59%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 Eureka St Urbana, IL	3.0	1.0	—	$1,450	—	43d	1	0.38mi
520 N Neil St Champaign, IL	1.0–2.0	1.0–2.0	835	$1,750	$2.10	13d	2	0.56mi
510 E White St Champaign, IL	1.0	1.0	—	$1,620	—	43d	1	0.58mi
1113 W Hill St Urbana, IL	2.0	1.0	—	$1,050	—	21d	1	0.59mi
415 N Neil St Unit 2 Champaign, IL	1.0	1.0	—	$1,650	—	43d	1	0.61mi
507 E White St Champaign, IL	1.0	1.0	476	$1,300	$2.73	43d	1	0.61mi
301 N Neil St Champaign, IL	3.0	2.5	3475	$5,000	$1.44	13d	1	0.65mi
17 E University Ave Champaign, IL	2.0	1.0	417	$1,410	$3.38	43d	2	0.70mi
17 E University Ave Unit 17-308 Champaign, IL	2.0	1.0	507	$1,305	$2.57	13d	1	0.70mi
206 W Washington St Unit 4 Champaign, IL	2.0	1.0	750	$895	$1.19	44d	1	0.71mi
1202 N Lincoln Ave Urbana, IL	3.0	1.0	1150	$1,395	$1.21	21d	1	0.73mi
907 N State St Apt 2 Champaign, IL	1.0	1.0	450	$660	$1.47	43d	1	0.76mi
503 N State St Champaign, IL	2.0	1.0	—	$850	—	13d	1	0.76mi
503 N State St Unit 2 Champaign, IL	2.0	1.0	—	$825	—	21d	1	0.77mi
808 N Lincoln Ave Unit 2 Urbana, IL	2.0	1.0	800	$995	$1.24	43d	1	0.77mi
1901 N Lincoln Ave Urbana, IL	2.0	2.0	821	$660	$0.80	43d	1	0.81mi
217 S Neil St Champaign, IL	1.0–2.0	1.0–2.0	816	$1,795	$2.20	13d	4	0.82mi
106 E Healey St Champaign, IL	2.0	1.0	690	$709	$1.03	43d	1	0.82mi
309 N Prairie St Unit 309 Champaign, IL	2.0	1.0	1208	$1,650	$1.37	13d	1	0.88mi
1009 Stoughton St Urbana, IL	1.0	1.0	—	$1,600	—	43d	1	0.89mi
412 W Church St Champaign, IL	1.0	1.0	687	$1,395	$2.03	43d	3	0.95mi
312 W Clark St Unit 312-C-101 Champaign, IL	1.0	1.0	484	$870	$1.80	13d	1	0.96mi
312 W Clark St Champaign, IL	1.0	1.0	484	$870	$1.80	13d	1	0.96mi
313 Cottage Ct #9 Champaign, IL	1.0	1.0	800	$1,000	$1.25	43d	1	0.97mi
403 W University Ave Champaign, IL	1.0	1.0	686	$1,475	$2.15	43d	1	0.97mi
402 W Clark St Champaign, IL	2.0	1.0	445	$875	$1.96	13d	2	0.97mi
312 S State St Champaign, IL	1.0	1.0	—	$825	—	13d	1	0.98mi
312 S State St Champaign, IL	2.0	1.0	—	$950	—	43d	1	0.98mi
309 S State St Unit 309-21 Champaign, IL	1.0	1.0	590	$900	$1.53	43d	1	1.00mi
48 E John St Champaign, IL	3.0	3.0	330	$739	$2.24	43d	1	1.01mi
211 W Springfield Ave Unit 211-304 Champaign, IL	2.0	1.0	572	$980	$1.71	43d	1	1.02mi
602 W Hill St Apt B Champaign, IL	2.0	1.0	—	$980	—	13d	1	1.04mi
602 W Hill St Apt A Champaign, IL	2.0	1.5	—	$1,300	—	43d	1	1.04mi
510 W University Ave Unit 1W Champaign, IL	1.0	1.0	600	$910	$1.52	21d	1	1.07mi
704 Stoughton St Urbana, IL	1.0	1.0	550	$1,035	$1.88	43d	1	1.09mi
901 S 1st St Champaign, IL	4.0	1.0–2.0	—	$2,418	—	13d	1	1.10mi
810 S Oak St Unit 13 Champaign, IL	2.0	1.0	950	$1,350	$1.42	21d	1	1.10mi
618 W Church St Apt 4 Champaign, IL	1.0	1.0	500	$775	$1.55	13d	1	1.15mi
501 S Elm St Unit 1E Champaign, IL	3.0	1.0	1000	$1,135	$1.14	43d	1	1.22mi
606 S Prairie St Apt 11 Champaign, IL	1.0	1.0	550	$795	$1.45	13d	1	1.23mi

Listing history 6 events

1. 2026-06-10
   days on market $79,000 Coming Soon 7 DOM
2. 2026-06-09
   days on market $79,000 Coming Soon 6 DOM
3. 2026-06-08
   days on market $79,000 Coming Soon 5 DOM
4. 2026-06-07
   days on market $79,000 Coming Soon 4 DOM
5. 2026-06-05
   remarks 500-char remark
6. 2026-06-05
   listed $79,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,109
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$2,298
• Taxable income: $4,388
• Est. tax owed @ 24.0%: −$1,053
• After-tax cash flow: $4,332/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: Champaign CUSD 4
• NCES district ID: 1709420
• Math proficiency: 24% ▼ -7.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $45,797
• Composite: 21.66/100
• National rank: #8281
• State rank: #333 of 620 in IL

Livability — Champaign

• Score: 83/100
• State rank: #44
• US rank: #902

Category grades

Amenities B+ Commute A+ Cost of living A+ Crime F Employment C+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Champaign, IL
• County: Champaign County · 182,148 people
• City population: 96,852
• Metro: Champaign-Urbana, IL
• Population (ZIP): 40,599
• Household income: $27,539
• Rent vs Own: 80.4% rent · 19.6% own
• Severe rent burden: 4754.0

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 0.62)
• Race & ethnicity: White 57% Asian 18% Black 13% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 1%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 74% English-only · Chinese 7% Spanish 6% Other Indo-European 5%

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: ▼ -112.24%
• Current HPI: 239.5835
• Rent YoY: ▲ 4.62%
• 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