masterkey logo
1111 Sterling Dr
Champaign, IL

1111 Sterling Dr

$485,000
4 bd • 3 ba • 2,887 sf

This analysis was generated by artificial intelligence on 1/27/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

Listen

AI Property Analysis

0:00
0:00 / 0:00
List Price

$485,000

Price/Sq.Ft

$168

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Large Square Footage: At 2,887 sqft, the property offers a large living space, which is above the average size for homes in Champaign. This is ideal for families needing plenty of room. • Four Bedrooms and Three Bathrooms: The property's 4 bedrooms and 3 bathrooms make it suitable for larger families. This layout provides ample space for comfortable living and is often in high demand. • Below Average Price per Square Foot: With a price per square foot of $167.99, this property is priced below the local average of $180-$220/sqft. This can be an attractive feature for buyers looking for value. • Traditional Brick Exterior: The brick exterior, visible from the provided image, suggests a traditional and well-maintained home. Brick exteriors are often desirable for their durability and classic look. • Established Neighborhood: The manicured lawn and mature trees visible in the image suggest that the property is in an established neighborhood, which often includes parks, schools and a sense of community.

The Bad

• No Property Description: The absence of a property description makes it difficult to assess the property's features, layout, and condition. This lack of transparency makes it challenging to determine if the property meets buyer needs. • Unknown Year Built: The unknown year built is a major drawback as it prevents an assessment of the property's age and potential maintenance needs. Older homes often have outdated systems and require more frequent repairs. • Limited Property Features: The lack of listed property features makes it difficult to evaluate the property's amenities and potential value. This includes information about the kitchen, bathrooms, flooring, and other key features. • No Room Details: The absence of room details makes it difficult to assess the property's layout and suitability for different family needs. This includes the size and number of rooms. • No Utility Information: The lack of utility information makes it impossible to estimate monthly costs and assess the efficiency of the property's systems. This includes heating, cooling, and plumbing.

The Ugly

• High Total Ownership Costs: The combination of a high purchase price, property taxes, and potential maintenance costs results in high monthly ownership costs. Estimated monthly costs, including mortgage, taxes, and insurance, are ~$3,570. This is a significant financial burden, especially given the median income of ~$59,031. • Potential for High Maintenance: The unknown age and lack of information about the property's condition raise concerns about potential maintenance costs. Older homes often require expensive repairs, especially on major systems such as the roof, HVAC, and plumbing. • Risk of Drainage Issues: Champaign's flat terrain increases the risk of drainage issues during heavy rain. This could lead to costly repairs if the property does not have adequate drainage. This risk is more pronounced for older homes. • Potential for Hidden Costs: Without information on utilities and systems, buyers face the risk of hidden costs. Older, inefficient systems can lead to higher utility bills and potentially costly upgrades. • Market Sensitivity: Champaign's real estate market is influenced by the University of Illinois, leading to seasonal fluctuations and price volatility. This could make the property a riskier investment, especially for short-term buyers. Given the dependence on the University, there could be a significant decrease in prices if the University enrollment decreases.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Large Families: The 4-bedroom, 3-bathroom layout is well-suited for families needing ample space. With 2,887 sqft, this property offers significantly more room than the average Champaign home, which is closer to 1,800 sqft. • Buyers Seeking Established Neighborhoods: The property’s traditional brick exterior and well-maintained landscaping suggest it is in an established neighborhood, which often comes with mature trees, nearby parks, and a sense of community. • Homeowners Prioritizing Space Over Customization: This property is a standard, large house with ample space, which is ideal for buyers who prioritize move-in readiness over extensive renovations. • Buyers with Household Incomes of $140,000+: Based on an estimated monthly mortgage payment of ~$2,700 (assuming a 20% down payment and a 7% interest rate), plus property taxes of ~$700/month and insurance of ~$170/month, monthly housing costs are ~$3,570. This is about 30% of a gross monthly income of $11,667, or ~$140,000 annually, which aligns with the standard debt-to-income ratio. • Long-term homeowners: Given the high property taxes and initial purchase price, this property is best for buyers who plan to stay for 5+ years. This allows for property appreciation to offset transaction and carrying costs.

Not For

• Investors Seeking High Rental Yields: Given the high purchase price and property taxes, this property is unlikely to generate significant positive cash flow as a rental. The estimated monthly mortgage of ~$2,700, coupled with the property tax and insurance of $870/month ($700 property tax and $170 insurance), exceeds the average 4-bedroom rent of ~$1,520/month. • Budget-Conscious Buyers: The total monthly ownership cost of ~$3,570 (including mortgage, taxes, and insurance) is high relative to the median income of $59,031. This property is not suitable for buyers with limited budgets or those looking for a low-cost home. • Buyers Seeking Low Maintenance Homes: The large size and unknown age of the property likely mean higher maintenance costs and potential repairs. This is not ideal for buyers who want a low-maintenance lifestyle. • Buyers Prioritizing Modern Design: The traditional brick exterior and unknown interior layout may not appeal to buyers seeking modern or updated homes. If significant renovations are needed, the total cost could exceed the budget.
Demographics
Area Median Income

$59,031

Price Prediction Challenge

Think you know what 1111 Sterling Dr will sell for? Put your market expertise to the test!

Be the first to predict

Your local insight could help set the benchmark for other buyers.

No predictions yet

Kick off the challenge by making your guess. You'll help other buyers get a feel for this property’s value—and you might just claim the top spot when it sells.

Unlock Premium Features

Supercharge Your Property Analysis

Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.

Best for serious buyers
  • Unlimited AI analysis
  • Unlimited AI chat
  • Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee

Risk Assessment

Risk Analysis

• Unknown Age & Condition: The lack of information about the property's age and condition poses a significant risk. Older homes often require expensive repairs and upgrades to plumbing, electrical, roofing, and HVAC systems. This could result in unexpected costs that are not accounted for in the purchase price. • High Property Taxes: Illinois has high property taxes, which significantly increase the total cost of ownership. The estimated $700/month in property taxes is a substantial expense that must be factored into the monthly budget. • Drainage Issues: Champaign's flat terrain can lead to drainage problems during heavy rain. This could result in water damage to the foundation and landscaping if not properly managed. The risk is particularly high for older homes with inadequate drainage systems. • Utility Costs: Without information on the utilities and systems, it's difficult to estimate monthly utility bills. Older homes often have less efficient systems, leading to higher heating and cooling costs, especially during Champaign's extreme weather. • Market Volatility: The local housing market is influenced by the University of Illinois, leading to seasonal fluctuations. Property values may fluctuate with the academic calendar and student enrollment, making it a risk for short-term investors.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$354,188

-27.0% below list price

Median Price

$350,000

Based on 4 recent sales

Price per Sq.Ft

$164

Comparable Properties

5 Greenfield Court, Savoy, IL 61874
Price: $328,750
Sq.Ft: 2,395
Beds/Baths: 3/3
$/Sq.Ft:
$13718.3%
Sale Date: 8/20/2024
1003 Page Drive, Champaign, IL 61821
Price: $350,000
Sq.Ft: 2,364
Beds/Baths: 3/3
$/Sq.Ft:
$14811.9%
Sale Date: 8/12/2024
2706 Windward Boulevard, Champaign, IL 61821
Price: $680,000
Sq.Ft: 3,302
Beds/Baths: 5/4
$/Sq.Ft:
$20622.6%
Sale Date: 12/2/2024
1709 Harrington Drive, Champaign, IL 61821
Price: $58,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 9/14/2024

Frequently Asked Questions

Property Discussion

Start the Conversation

Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.

You
Potential Savings

$14,550

Analyze Any Property for Free

Get instant insights and potential savings on any Zillow® listing.

Free Analysis
AI-Powered Insights
Instant Results