407 W Elm St Urbana, IL 61801
West Urbana Neighborhood
4
Beds
3
Baths
1,596
Sq Ft
6,534
Sq Ft Lot
About This Home
As of November 2024Welcome to 407 W Elm, Urbana, IL - an excellent investment property featuring two fully remodeled units with strong rental income. Unit 1 is a spacious 3-bedroom, 2-bathroom layout, while Unit 2 is a comfortable 1-bedroom, 1-bathroom unit. Both units feature in-unit laundry for tenant convenience. The property also includes an unfinished basement offering shared storage space and a detached two-car garage with a new overhead door that presents additional income potential. With recent upgrades and a prime location, 407 W Elm is a fantastic addition to any rental portfolio.
Last Agent to Sell the Property
KELLER WILLIAMS-TREC License #475151471 Listed on: 11/04/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,368
Year Built
- Built in 1903
Lot Details
- 6,534 Sq Ft Lot
- Lot Dimensions are 54x115
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Potential Bedrooms
- 3 Bathrooms
Unfinished Basement
- Basement Fills Entire Space Under The House
Parking
- 4 Parking Spaces
- Uncovered Parking
- Parking Space is Owned
Schools
- Leal Elementary School
- Urbana Middle School
- Urbana High School
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
Community Details
- 2 Units
- Gross Income $29,280
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Nov 4, 2024
Closed on
Nov 27, 2024
Sold by
Ross Lane Holdings Llc
Bought by
Jono Properties Llc
Seller's Agent
Joe Zalabak
KELLER WILLIAMS-TREC
Buyer's Agent
Jon Fisher
MR. LANDMAN
List Price
$299,900
Sold Price
$284,000
Premium/Discount to List
-$15,900
-5.3%
Views
10
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
$8,713
Avg. Annual Appreciation
4.48%
Purchase Details
Listed on
Jul 21, 2022
Closed on
Aug 25, 2022
Sold by
George Klatt
Bought by
Ross Lane Holdings Llc
Seller's Agent
Joe Zalabak
KELLER WILLIAMS-TREC
Buyer's Agent
Joe Zalabak
KELLER WILLIAMS-TREC
List Price
$250,000
Sold Price
$100,000
Premium/Discount to List
-$150,000
-60%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
58.70%
Purchase Details
Closed on
Sep 30, 2005
Sold by
Swann Dana
Bought by
Klatt George
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$92,800
Interest Rate
6.04%
Mortgage Type
Purchase Money Mortgage
Similar Home in Urbana, 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 | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $284,000 | Guaranteed Title | |
| Warranty Deed | $284,000 | Guaranteed Title | |
| Warranty Deed | $100,000 | -- | |
| Warranty Deed | $86,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $850,000 | New Conventional | |
| Previous Owner | $86,000 | Unknown | |
| Previous Owner | $92,800 | Purchase Money Mortgage |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/27/2024 11/27/24 | Sold | $284,000 | -5.3% | $178 / Sq Ft |
| 11/12/2024 11/12/24 | Pending | -- | -- | -- |
| 11/05/2024 11/05/24 | For Sale | $299,900 | +199.9% | $188 / Sq Ft |
| 08/25/2022 08/25/22 | Sold | $100,000 | -60.0% | $63 / Sq Ft |
| 07/22/2022 07/22/22 | For Sale | $250,000 | -- | $157 / Sq Ft |
| 07/21/2022 07/21/22 | Pending | -- | -- | -- |
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 | $6,368 | $65,620 | $18,950 | $46,670 |
| 2023 | $6,368 | $59,870 | $17,290 | $42,580 |
| 2022 | $5,967 | $55,130 | $15,920 | $39,210 |
| 2021 | $5,546 | $51,380 | $14,840 | $36,540 |
| 2020 | $5,366 | $49,890 | $14,410 | $35,480 |
| 2019 | $5,214 | $49,890 | $14,410 | $35,480 |
| 2018 | $5,190 | $50,240 | $14,510 | $35,730 |
| 2017 | $5,369 | $50,240 | $14,510 | $35,730 |
| 2016 | $5,185 | $48,780 | $14,090 | $34,690 |
| 2015 | $5,065 | $48,780 | $14,090 | $34,690 |
| 2014 | $4,996 | $47,130 | $13,610 | $33,520 |
| 2013 | $5,031 | $48,090 | $13,890 | $34,200 |
Source: Public Records
Agents Affiliated with this Home
-
Seller's Agent in 2024
Joe Zalabak
KELLER WILLIAMS-TREC
(217) 721-5855
32 in this area
375 Total Sales
-
Buyer's Agent in 2024
Jon Fisher
MR. LANDMAN
(217) 202-0924
6 in this area
223 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12193746
APN: 92-21-17-132-002
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