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Elgin 60120 Northeast Elgin
1038 CEDAR Avenue
$210,000
● House - Off Market

1038 CEDAR Avenue

ELGIN, IL 60120
bedrooms
4 Beds
bathrooms
3 Baths
$375,612
RealtyHop Estimate
70.81%
Since May 1, 2007
National-US
Primary Model

About This Property

**VACANT & EZ TO SHOW** BANK-OWNED PROPERTY BEING SOLD AS-IS. PER SELLER'S INSTRUCTIONS- ALL POTENTIAL BUYERS MUST BE PREQUALIFIED THROUGH AHM BEFORE NEGOTIATIONS. TO PREQUAL- CALL . SELLER WILL NOT PAY FOR SURVEY. SELLER EXEMPT FROM DISCLOSURES. FAX OFFERS WITH PREAPPROVAL OR PROOF OF FUNDS INFO GATHERED FROM PREVIOUS LISTING. 105% TAX PRORATION. **
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$383
HOA Dues
-
Year Built
1933

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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
Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1933
  • Effective Year Built: 1933
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 4
  • Exterior Walls Type: 2
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 500
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 1,015
  • Garage Type: 4
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,312
  • Lot Size Depth Feet: 1,270
  • Lot Size Frontage Feet: 500
  • Total Building Area: 2,538
  • Gross Building Area: 2,538
  • Building Area: 1,523
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 0
  • Heated Square Feet: 1,523
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: R N BOTSFORDS ADDN
  • Land Acres: 0000000145
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: R N BOTSFORDS ADDN LOT 5 (EXCEPT DOC 1375087) BLOCK 6

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 850800

Geography

  • Parcel: 06-12-134-029
  • Block: 6
  • Lot: 5
  • Municipality: ELGIN
  • Latitude: 42.0562
  • Longitude: -88.2746

    Address

  • Full Address: 1038 Cedar Ave
  • Address - House Number: 1038
  • Address - Street Name: Cedar
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Elgin
  • Carrier Code: C005
  • 4-Digit Zip Code: 2946
  • Zip Code: 60120

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $645,176
  • Tax Rate Code Area: EL005

    Appraisal Valuation

  • Standard Deviation: 0.1658
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 79
  • Final Value: 282,278
  • High Value: 329,091
  • Low Value: 235,465

    Market Valuation

  • Market Total Value: $241,312
  • Market Land Value: $37,929
  • Market Improvement Value: $203,382

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $80,405
  • Assessed Land Value: $12,638
  • Assessed Improvements Value: $67,767

    Sales

  • Current Sale Contract Date: Oct 18, 2021
  • Current Sale Recording Date: Oct 25, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2021K080274
  • Previous Sale Recording Date: Apr 02, 2007
  • Previous Sale Contract Date: Mar 15, 2007
  • Previous Sale Amount: $210,000
  • Previous Sale Document Type: 68

    Financing

  • First Mortgage Financing Type: FIX
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 Northeast Elgin

Stats & Trends

Median Asking:

$302,500

Sale Price/ft²

$201

Below Asking

0.01%

Average Days on Market

42

Average Home Size

1708 ft²

Average Home Age

60.5 years

Currently For Sale

16 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 920 Fairfax Court, Elgin, IL, 60120

$3,400 /mo

  • 4 Beds
  • 2 Baths
  • 1,980 ft²
920 Fairfax Court, Elgin, IL, 60120 Listing by Matthew Lysien

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Darlene Colosimo, Midwest Executives Realty
Data Source: MRED, MLS# MRD06407403
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 1038 Cedar Avenue built and last sold?
The property at 1038 Cedar Avenue was built in 1933 and last sold on Oct 18, 2021 for $218,000.
How much is this home worth?
The estimated value of the home located at 1038 Cedar Avenue is $0.
What are some comparable homes to 1038 Cedar Avenue?
There are currently no comparable homes to 1038 Cedar Avenue.
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