Score
0Champaign, IL
1111 Sterling Dr
485K
4 beds
3 baths
2,887 sqft
4 bd • 3 ba • 2,887 sf
This analysis was generated on 1/27/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 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 Older homes often have outdated systems and require more frequent repairs.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
Property History
Price History
Ownership Timeline
$485,000Financed
May 16, 2024Harrison W Freeland, Dana Flinn FreelandCharles Farhoodi, Emily Ann Beanblossom
Warranty Deed
Standard Sale (Purchase/Resales)
$340,500Financed
May 7, 2019Mark G Hawthorne, Brenda F HawthorneHarrison W Freeland, Dana Flinn Freeland
Warranty Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Financials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$950
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$485,000
Price/sqft
$168
Layout
4 bd•3 ba
Stats in the Area
Based on 4 comparable properties nearby
Average Price
$354,188
36.9%
Your price is 36.9% above average
Median Price
$350,000
38.6%
Based on 4 recent sales
Price per Sq.Ft
$164
2.4%
Your price is 2.4% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 5 Greenfield Court, Savoy, IL 61874 | $328,750 | 2,395 | 3 | 3 | $13718.3% | 8/20/2024 |
| 1003 Page Drive, Champaign, IL 61821 | $350,000 | 2,364 | 3 | 3 | $14811.9% | 8/12/2024 |
| 2706 Windward Boulevard, Champaign, IL 61821 | $680,000 | 3,302 | 5 | 4 | $20622.6% | 12/2/2024 |
| 1709 Harrington Drive, Champaign, IL 61821 | $58,000 | N/A | N/A | N/A | N/A | 9/14/2024 |
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: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/14/2024
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