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Normal 61761
1018 Hovey Avenue
$160,000
● House - Off Market

1018 Hovey Avenue

Normal, IL 61761
bedrooms
2 Beds
bathrooms
1 Bath
square feet
1,952 Ft²
$1,009
Est. Monthly
10.33%
Cap Rate

About This Property

What a great two-bedroom one-story home in a super spot!  Close to Uptown Normal, both the ISU & IWU campuses, with ease to Main St and all highways.  The living room and dining rooms are generous in size and have hardwood floors under the carpeting.  The kitchen has its appliances all staying.  Lots of updating has been done in the last 5 years, including new windows, updated electrical, a new wooden privacy fence, a new water heater, a new central ac unit, a new front storm door, and both front and back entry doors. The front entry door has built-in blinds in its window!  There is a large garage and a nice back patio too.  Solidly built home that is ready for you to call it your new home!
Unit Size
1,952 Ft²
Days on Market
-
Land Size
0.16 acres
Price per sqft
$82
Property Type
House
Property Taxes
$223
HOA Dues
-
Year Built
1923

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1923
  • Effective Year Built: 1923
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 3
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 976
  • Garage Type: 7
  • Garage Square Area: 399
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 106
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,182
  • Lot Size Depth Feet: 1,330
  • Lot Size Frontage Feet: 540
  • Total Building Area: 1,952
  • Building Area: 976
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 976
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GOODS ADD
  • Land Acres: 0000000168
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: GOODS ADD TO NORMAL LOT 10 BLK 2

Neighborhood

  • School District Name: McLean County Unit School District 5
  • Census Tract: 000301

Zoning

  • Zoning: R-1B

Geography

  • District: 30
  • Parcel: 14-28-354-010
  • Block: 2
  • Lot: 10
  • Meridian: SEC 28 TWN 24N RNG 02E
  • Municipality: NORMAL
  • Latitude: 40.5027
  • Longitude: -89.0006

    Address

  • Full Address: 1018 Hovey Ave
  • Address - House Number: 1018
  • Address - Street Name: Hovey
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Normal
  • Carrier Code: C043
  • 4-Digit Zip Code: 3405
  • Zip Code: 61761

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $248,560
  • Tax Rate Code Area: 3001

    Appraisal Valuation

  • Standard Deviation: 0.2167
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 70
  • Final Value: 131,018
  • High Value: 159,412
  • Low Value: 102,624

    Market Valuation

  • Market Total Value: $101,010
  • Market Land Value: $22,983
  • Market Improvement Value: $78,027

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $33,670
  • Assessed Land Value: $7,661
  • Assessed Improvements Value: $26,009

    Sales

  • Current Sale Contract Date: Aug 24, 2020
  • Current Sale Recording Date: Sep 04, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 2020-00017783
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Normal

Stats & Trends

Median Asking:

$275,000

Sale Price/ft²

$120

Below Asking

0.01%

Average Days on Market

43

Average Home Size

2174 ft²

Average Home Age

40.7 years

Currently For Sale

40 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 612 1/2 E Chestnut Street, Bloomington, IL, 61701

$1,250 /mo

  • 2 Beds
  • 1 Bath
  • 900 ft²
612 1/2 E Chestnut Street #2, Bloomington, IL, 61701 Listing by Tracy Haas Riley
Unit for rent at 707 N Golfcrest Road, Normal, IL, 61761

$750 /mo

  • 3 Beds
  • 2 Baths
  • 1,086 ft²
707 N Golfcrest Road #3, Normal, IL, 61761 Listing by DeAnna Carlson

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Tracy Haas Riley, BHHS Central Illinois, REALTORS
Data Source: MRED, MLS# MRD12340613
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 1018 Hovey Avenue built and last sold?
The property at 1018 Hovey Avenue was built in 1923 and last sold on Aug 24, 2020 for $74,000.
How much is this home worth?
The estimated value of the home located at 1018 Hovey Avenue is $165,129.
What are some comparable homes to 1018 Hovey Avenue?
There are currently no comparable homes to 1018 Hovey Avenue.
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