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Ottawa 61350
1441 Cherokee Lane
$233,000
● House - Off Market

1441 Cherokee Lane

Ottawa, IL 61350
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,325 Ft²
$1,448
Est. Monthly
11.27%
Cap Rate

About This Property

Recently updated 1325sf ranch home situated on Ottawa's south side.  Modern interior featuring new hickory hardwood flooring, fresh paint and updated lighting.  Kitchen equipped with new shaker cabinets, quartz counters, gold hardware and all new stainless appliance package.  Custom bath featuring subway tile shower/tub combo with double vanities.  Full interior repaint and all new flooring.  Windows and roof approx. 10 years old. New A/C.  updated 100amp electrical panel.
Unit Size
1,325 Ft²
Days on Market
-
Land Size
0.18 acres
Price per sqft
$177
Property Type
House
Property Taxes
$293
HOA Dues
-
Year Built
1958

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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: 1958
  • Effective Year Built: 1958
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,841
  • Total Building Area: 1,325
  • Gross Building Area: 1,325
  • Building Area: 1,325
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: TOMAHAWK TERRACE THIRD ADD
  • Land Acres: 0000000180
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: TOMAHAWK TERRACE 3RD ADD LOT 45

Neighborhood

  • School District Name: Ottawa Elementary School District 141
  • Census Tract: 963500

Geography

  • District: SO
  • Parcel: 22-13-326-015
  • Lot: 45
  • Municipality: SOUTH OTTAWA TOWNSHIP
  • Latitude: 41.3257
  • Longitude: -88.8327

    Address

  • Full Address: 1441 Cherokee Ln
  • Address - House Number: 1441
  • Address - Street Name: Cherokee
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Ottawa
  • Carrier Code: C011
  • 4-Digit Zip Code: 4563
  • Zip Code: 61350

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $261,054
  • Tax Rate Code Area: SO001

    Appraisal Valuation

  • Standard Deviation: 0.1361
  • Valuation Date: Jun 14, 2023
  • Confidence Score: 72
  • Final Value: 101,336
  • High Value: 115,132
  • Low Value: 87,539

    Market Valuation

  • Market Total Value: $91,230
  • Market Land Value: $15,606
  • Market Improvement Value: $75,624

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $30,410
  • Assessed Land Value: $5,202
  • Assessed Improvements Value: $25,208

    Sales

  • Current Sale Contract Date: May 01, 2010
  • Current Sale Recording Date: May 14, 2010
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2010-10135
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 Ottawa

Stats & Trends

Median Asking:

$229,500

Sale Price/ft²

$156

Below Asking

0.02%

Average Days on Market

53

Average Home Size

1752 ft²

Average Home Age

50.6 years

Currently For Sale

71 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

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MRED

Listed by: Phil Makarewicz, Keller Williams Innovate
Data Source: MRED, MLS# MRD12295472
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 1441 Cherokee Lane built and last sold?
The property at 1441 Cherokee Lane was built in 1958 and last sold on May 1, 2010 for $117,000.
How much is this home worth?
The estimated value of the home located at 1441 Cherokee Lane is $239,050.
What are some comparable homes to 1441 Cherokee Lane?
There are currently no comparable homes to 1441 Cherokee Lane.
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