Furnished Residential Income
For Sale
$192,500
1905 N Lincoln Avenue #327, Urbana, IL 61801
Each bedroom has a private bathroom, with furnishings and appliances included.
Property Size1,540 SF
Days on Market95
Property Features for 1905 N Lincoln Avenue #327
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Apartment
Amenities
Central Air
Electric
Range
Microwave
Dishwasher
Refrigerator
Washer
Deck, Asphalt
Building Details
Building Size
1,540 SF
Year Built
2005
Listing Agency:
Coldwell Banker R.E. Group
Listed By:
Hazem Jaber · License #475115567
(217) 621-4965
Source:
Kw
Added: Jul 17
Changed: Oct 1
Last Checked: Oct 19 at 3:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker R.E. Group
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Investment Insights
Based on property information with market context.
This furnished residential income condo at Capstone Quarters includes appliances, central air, a range, microwave, dishwasher, refrigerator, and washer. The layout provides a private bathroom for each bedroom, while the unit also includes a deck and asphalt parking. The property was built in 2005 and faces east and south.
Residents have access to the community clubhouse, 24-hour fitness center, 32-seat movie theater, 24-hour computer lab, study and game rooms, and resort-style swimming pool. The property is located at 1905 N Lincoln Avenue, one mile from the University and on the bus line. Condo fees cover internet, garbage removal, exterior maintenance, lawn care, snow removal, parking, and site-amenity upkeep.
All four rooms are leased through July 31, 2026. After that date, the unit may continue as an investment or be used by the owner or college-aged family members.
Residents have access to the community clubhouse, 24-hour fitness center, 32-seat movie theater, 24-hour computer lab, study and game rooms, and resort-style swimming pool. The property is located at 1905 N Lincoln Avenue, one mile from the University and on the bus line. Condo fees cover internet, garbage removal, exterior maintenance, lawn care, snow removal, parking, and site-amenity upkeep.
All four rooms are leased through July 31, 2026. After that date, the unit may continue as an investment or be used by the owner or college-aged family members.
Key Highlights
- Furnished unit with appliances, central air, and washer
- Private bathroom provided for each bedroom
- All four rooms leased through 7/31/2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,877
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,540
$237.5K
Cap Rate 7%
$169,671
$169.7K
Cap Rate 9%
$131,967
$132.0K
Market Conditions
NOI Build-Up for 1,540 SF
Gross rent
$22.7K $14.76/SF
− Vacancy
−$1.1K −$0.74/SF
EGI
$21.6K $14.02/SF
− OpEx
−$9.7K −$6.31/SF
NOI
$11.9K $7.71/SF
Area
Champaign County, IL
Vacancy
5.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,540
Cap Rate 7%
$169,671
Cap Rate 9%
$131,967
Alternative Uses
Best Use
Apartment 5plus
$169.7K
$148.5K – $198.0K
NOI $11,877 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$320.4K
$280.3K – $373.8K
NOI $22,427 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
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Business Placement
Demographics for 61801, IL
27,658
Population
13,468
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
98%
High-School Grad
5.4 sq mi
ZIP Area
5,122
Density / Sq Mi
$37,948
Median Household Income
$26,394
Median Earnings
$950
Median Rent
$184,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Each bedroom has a private bathroom, with furnishings and appliances included.
Where is this residential income property located?
The property is located at 1905 N Lincoln Avenue #327 Urbana, IL.
What is the asking price?
The asking price for this property is $192,500.
What are key features of this property?
This property features: Furnished unit with appliances, central air, and washer; Private bathroom provided for each bedroom; All four rooms leased through 7/31/2026
