305 S Elm St Champaign, IL 61820
Estimated Value: $188,000 - $256,000
5
Beds
3
Baths
1,454
Sq Ft
$147/Sq Ft
Est. Value
Highlights
- 2 Car Detached Garage
- Central High School Rated A
- Heating System Uses Natural Gas
About This Home
As of September 2022The next addition to your investment property portfolio is 305 S Elm, Champaign! This charming, renovated home has many of the details and character of older construction, but the efficiencies and updates of a much more modern property. Unit A, located on the first floor, is over 1220 square feet and features two bedrooms, two full bathrooms, a living area, and an eat-in kitchen. This unit still has many of the original stained-glass windows, original unpainted woodwork, and functioning pocket doors. This unit is leased for $900 per month, now month-to-month but the renter would like to renew for a longer period of time if it is the buyer's preference. Unit B is located on the second floor and is a 2-bedroom, 1 bathroom unit with an eat-in kitchen, and is leased through August 14 to a longer-term renter for $625 per month. Unit C is a studio unit, with a full bath and a kitchenette. This unit has income potential both as a long-term rental (previously rented for $350 per month). The detached two-car garage has additional income potential. This property has the potential for "house hacking", where you can live in one unit and have the rent from the others pay your mortgage and expenses. The owner pays for water, trash, sewer, lawn care, and electric and gas combined for Units A and C. Unit B is all-electric and paid by the renter. The roof was replaced within the last five years. Property to be sold in AS-IS condition. Hurry, this one will not last long!
Last Agent to Sell the Property
KELLER WILLIAMS-TREC License #475151471 Listed on: 05/03/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,226
Year Built
- Built in 1893
Lot Details
- 8,276 Sq Ft Lot
- Lot Dimensions are 61.83x132.7
Parking
- 2 Car Detached Garage
- Parking Space is Owned
Home Design
- Vinyl Siding
Interior Spaces
- 3-Story Property
- Unfinished Basement
- Partial Basement
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Potential Bedrooms
- 3 Bathrooms
Schools
- Unit 4 Of Choice Elementary School
- Champaign/Middle Call Unit 4 351
- Central High School
Utilities
- Heating System Uses Natural Gas
Community Details
- 3 Units
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 3, 2022
Closed on
Sep 15, 2022
Sold by
Deal Properties Llc
Bought by
Illini Properties Llc
Seller's Agent
Joe Zalabak
KELLER WILLIAMS-TREC
Buyer's Agent
Timothy McMahon
McMahon Realty Inc.
List Price
$195,000
Sold Price
$178,000
Premium/Discount to List
-$17,000
-8.72%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$35,985
Avg. Annual Appreciation
8.57%
Purchase Details
Closed on
Aug 20, 2019
Sold by
Deal Brian M and Deal Claire M
Bought by
Deal Properties Llc
Purchase Details
Closed on
Nov 16, 2012
Sold by
Hannon Bruce
Bought by
Deal Brian M and Deal Claire M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,000
Interest Rate
3.37%
Mortgage Type
Commercial
Similar Homes in Champaign, IL
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Illini Properties Llc | $178,000 | -- | |
| Deal Properties Llc | -- | Attorney | |
| Deal Brian M | $25,000 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Deal Brian | $40,000 | |
| Previous Owner | Deal Brian M | $85,000 | |
| Previous Owner | Deal Brian M | $112,500 | |
| Previous Owner | Deal Brian M | $48,988 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/16/2022 09/16/22 | Sold | $178,000 | -5.1% | $122 / Sq Ft |
| 08/31/2022 08/31/22 | Pending | -- | -- | -- |
| 06/20/2022 06/20/22 | Price Changed | $187,500 | -3.8% | $129 / Sq Ft |
| 05/03/2022 05/03/22 | For Sale | $195,000 | -- | $134 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $4,602 | $56,030 | $17,010 | $39,020 |
| 2023 | $4,602 | $51,030 | $15,490 | $35,540 |
| 2022 | $4,329 | $47,080 | $14,290 | $32,790 |
| 2021 | $4,226 | $46,160 | $14,010 | $32,150 |
| 2020 | $4,069 | $44,380 | $13,470 | $30,910 |
| 2019 | $3,938 | $43,460 | $13,190 | $30,270 |
| 2018 | $3,849 | $42,770 | $12,980 | $29,790 |
| 2017 | $3,716 | $41,120 | $12,480 | $28,640 |
| 2016 | $3,331 | $40,270 | $12,220 | $28,050 |
| 2015 | $3,356 | $39,550 | $12,000 | $27,550 |
| 2014 | $3,327 | $39,550 | $12,000 | $27,550 |
| 2013 | $3,297 | $39,550 | $12,000 | $27,550 |
Source: Public Records
Agents Affiliated with this Home
-
Joe Zalabak
Seller's Agent in 2022
Joe Zalabak
KELLER WILLIAMS-TREC
(217) 721-5855
382 Total Sales
-
Timothy McMahon
T
Buyer's Agent in 2022
Timothy McMahon
McMahon Realty Inc.
(217) 621-6749
5 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11393030
APN: 42-20-12-378-011
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