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Champaign 61821 Garden Hills
1503 Summit Ridge Road
$140,000
● House - Off Market

1503 Summit Ridge Road

Champaign, IL 61821
bedrooms
4 Beds
bathrooms
1 Bath
square feet
1,048 Ft²
$851
Est. Monthly
27.42%
Cap Rate

About This Property

This is an amazing investment opportunity on Summit Ridge! This property is tenant-occupied, making it a turn-key addition to your portfolio. Well-maintained and in a convenient Champaign location, it offers steady rental income with strong potential for long-term growth. Whether you're a seasoned investor or just starting out, this is a great property to add to your holdings. Don't miss this great opportunity!
Unit Size
1,048 Ft²
Days on Market
-
Land Size
-
Price per sqft
$143
Property Type
House
Property Taxes
$115
HOA Dues
-
Year Built
1961

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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

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1961
  • Effective Year Built: 1961
  • Bedroom Count: 0
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 12
  • Interior Walls Type: 6
  • Roof Shape Type: 0
  • Roof Cover Type: 14
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 240
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 36
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,133
  • Total Building Area: 854
  • Building Area: 854
  • Building Area Measurement: M

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 3
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GARDEN HILLS SUB 5TH PLAT
  • Land Acres: 0000000164
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: LOT 636 GARDEN HILLS SUB 5TH PLAT

Neighborhood

  • School District Name: Champaign Community Unit School District 4
  • School Tax School District: 101
  • Census Tract: 000901

Geography

  • District: 04
  • Parcel: 41-20-02-304-029
  • Lot: 636
  • Meridian: SEC 02 TWN 19N RNG 08E
  • Municipality: CITY OF CHAMPAIGN
  • Latitude: 40.1313
  • Longitude: -88.2762

    Address

  • Full Address: 1503 Summit Ridge Rd
  • Address - House Number: 1503
  • Address - Street Name: Summit Ridge
  • Address - Suffix Type: Rd
  • State: IL
  • City Name: Champaign
  • Carrier Code: C032
  • 4-Digit Zip Code: 1938
  • Zip Code: 61821

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $168,376
  • Tax Rate Code Area: 4102

    Appraisal Valuation

  • Standard Deviation: 0.2559
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 63
  • Final Value: 86,060
  • High Value: 108,089
  • Low Value: 64,030

    Market Valuation

  • Market Total Value: $54,930
  • Market Land Value: $16,650
  • Market Improvement Value: $38,280

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $18,310
  • Assessed Land Value: $5,550
  • Assessed Improvements Value: $12,760

    Sales

  • Current Sale Contract Date: Oct 04, 2021
  • Current Sale Recording Date: Oct 14, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2021R24598
  • Previous Sale Recording Date: Apr 29, 2010
  • Previous Sale Contract Date: Apr 27, 2010
  • Previous Sale Amount: $45,000
  • Previous Sale Document Type: 68
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 Garden Hills

Stats & Trends

Median Asking:

$149,950

Sale Price/ft²

$138

Above Asking

0.00%

Average Days on Market

53

Average Home Size

1157 ft²

Average Home Age

68 years

Currently For Sale

2 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 1013 W Daniel Street, Champaign, IL, 61821

$2,000 /mo

  • 3 Beds
  • 1 Bath
  • 1,425 ft²
1013 W Daniel Street, Champaign, IL, 61821 Listing by Creg McDonald

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Carol Meinhart, The Real Estate Group,Inc
Data Source: MRED, MLS# MRD12452174
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 1503 Summit Ridge Road built and last sold?
The property at 1503 Summit Ridge Road was built in 1961 and last sold on Oct 4, 2021 for $90,000.
How much is this home worth?
The estimated value of the home located at 1503 Summit Ridge Road is $150,714.
What are some comparable homes to 1503 Summit Ridge Road?
There are currently no comparable homes to 1503 Summit Ridge Road.
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