Score
0Urbana, IL
205 W Michigan Ave
486K
4 beds
3 baths
2,400 sqft
4 bd • 3 ba • 2,400 sf
This analysis was generated on 2/26/2025. 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
$485,700
Price/Sq.Ft
$202
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Spacious Layout: With 2,400 square feet, the property offers ample living space. The four-bedroom, three-bathroom setup suits families.
• Competitive Price per Square Foot: Priced at $202.38 per square foot, it's within a reasonable range for Urbana, making it attractive to buyers.
• Rental Income Potential: With four bedrooms, the property has good rental income potential. The average 4-bedroom rental rate in Urbana is $1,384 per month (2023 data).
• Proximity to Amenities: Located in Urbana, the property is likely close to schools, parks, and shopping centers. This adds convenience.
The Bad
• Unknown Year Built: The listing does not include the year built, making it difficult to assess the property's condition. Older homes may have outdated systems, such as plumbing and electrical, that require costly upgrades.
• No Property Description: The absence of a property description makes it hard to gauge the home's unique features. Buyers need more information to assess its value.
• Limited Property Features: The listing lacks details about property features. Essential elements like the type of heating and cooling systems are missing.
• Higher Price per Square Foot: At $202.38 per square foot, the property is slightly above the average for Urbana. This may deter budget-conscious buyers.
The Ugly
• High Renovation Costs: Older homes typically require extensive renovations. This can lead to unexpected expenses.
• Potential for Hidden Issues: Without knowing the year built, there's a risk of hidden problems like foundation issues or asbestos. Inspections are essential but costly.
• High Total Cost of Ownership: Renovation costs, property taxes, and insurance add up. This may make the property unaffordable for some buyers.
• Lack of Information: The listing lacks essential details. This makes it difficult to assess the property's true value and potential risks.
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
• Established Families: The four-bedroom layout suits families needing ample space. The location is close to schools and parks, offering convenience.
• Buyers Seeking Rental Income: With four bedrooms, the property can be rented to students. The average 4-bedroom rental rate in Urbana is $1,384 per month.
• Buyers Comfortable With Older Homes: The house requires some upgrades, but it offers the chance to customize it.
• Buyers Familiar With Urbana: Local expertise helps navigate the city's nuances.
Not For
• Buyers Seeking Modern Amenities: The property lacks modern features. It requires upgrades to meet current standards.
• Buyers on a Tight Budget: Renovation costs add to the purchase price. This may strain finances.
• Buyers Unfamiliar With Urbana: Local knowledge is crucial for navigating the market. This property might not suit newcomers.
• Buyers Prioritizing Turnkey Properties: The property needs maintenance. It is not move-in ready.
Demographics
Area Median Income
$31,843
Property History
Price History
Ownership Timeline
$388,000Financed
Jul 19, 2021Cynthia Jean Ottemann, Peter Michael OttemannZoe Leblanc, Daniel Miller
Warranty Deed
Standard Sale (Purchase/Resales)
$336,000Financed
Jul 18, 2005Michael R Goldman, Rachel A SchurmanPeter Michael Abbamonte, Cynthia Jean Ottemann
Warranty Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
Loading sunlight data...
Financials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$870
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
Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$485,700
Price/sqft
$202
Layout
4 bd•3 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$305,333
59.1%
Your price is 59.1% above average
Median Price
$255,000
90.5%
Based on 6 recent sales
Price per Sq.Ft
$131
54.5%
Your price is 54.5% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 601 E Evergreen Court, Urbana, IL 61801 | $307,000 | 2,401 | 3 | 3 | $12836.8% | 11/4/2024 |
| 405 W Elm Street, Urbana, IL 61801 | $230,000 | 2,016 | 5 | 3 | $11443.6% | 11/22/2024 |
| 612 W Washington Street, Urbana, IL 61801 | $255,000 | 2,288 | 4 | 3 | $11144.9% | 9/18/2024 |
| 608 W Main Street, Urbana, IL 61801 | $250,000 | 2,210 | 4 | 2 | $11344.1% | 11/22/2024 |
| 503 Burkwood Court E, Urbana, IL 61801 | $245,000 | 1,986 | 3 | 2 | $12339.0% | 11/15/2024 |
| 502 W Pennsylvania Avenue, Urbana, IL 61801 | $545,000 | 2,760 | 4 | 4 | $1972.4% | 10/31/2024 |
601 E Evergreen Court, Urbana, IL 61801
Price: $307,000
Sq.Ft: 2,401
Beds/Baths: 3/3
$/Sq.Ft:
$12836.8%
Sale Date: 11/4/2024
405 W Elm Street, Urbana, IL 61801
Price: $230,000
Sq.Ft: 2,016
Beds/Baths: 5/3
$/Sq.Ft:
$11443.6%
Sale Date: 11/22/2024
612 W Washington Street, Urbana, IL 61801
Price: $255,000
Sq.Ft: 2,288
Beds/Baths: 4/3
$/Sq.Ft:
$11144.9%
Sale Date: 9/18/2024
608 W Main Street, Urbana, IL 61801
Price: $250,000
Sq.Ft: 2,210
Beds/Baths: 4/2
$/Sq.Ft:
$11344.1%
Sale Date: 11/22/2024
503 Burkwood Court E, Urbana, IL 61801
Price: $245,000
Sq.Ft: 1,986
Beds/Baths: 3/2
$/Sq.Ft:
$12339.0%
Sale Date: 11/15/2024
502 W Pennsylvania Avenue, Urbana, IL 61801
Price: $545,000
Sq.Ft: 2,760
Beds/Baths: 4/4
$/Sq.Ft:
$1972.4%
Sale Date: 10/31/2024
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
Analyze Any Property for Free
Get instant insights and potential savings on any Zillow listing.
Free Analysis
AI-Powered Insights
Instant Results
