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Preston Heights 60433
1513 Lantern Lane
$32,500
● Land - Off Market

1513 Lantern Lane

Joliet, IL 60433
bedrooms
Studio
bathrooms
0 Bath
$608
Est. Monthly
17.60%
Cap Rate

About This Property

Amazing lot ready to build your dream home!! Quit and private street. SOld As-Is. Taxes are prorated at 100%. Seller Addendum to follow after contract acceptance.
Unit Size
-
Days on Market
-
Land Size
0.55 acres
Price per sqft
-
Property Type
Land
Property Taxes
$448
HOA Dues
-
Year Built
1958

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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.

Last updated: 3 years ago (MRED MLS #11823285)

Price History

Date / Event Date Event Price
May 10, 2024 Sold
Premium
Sold
Jul 5, 2023 Listed by RE/MAX Professionals Select $32,500
Listed by RE/MAX Professionals Select

Property Highlights

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 Count: 100
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 598
  • Garage Type: 1
  • Garage Square Area: 440
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 24,151
  • Total Building Area: 3,182
  • Building Area: 2,144
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 0
  • Heated Square Feet: 2,144
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: SUGAR CREEK HILLS
  • Land Acres: 0000000550
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 91 IN SUGAR CREEK HILLS UNIT 3, BEING A SUB OF PRT OF THE E1/2 OF THE SW1/4 OF SEC. 22, T35N-R10E.

Neighborhood

  • School District Name: Laraway Community Consolidated School District 70C
  • Census Tract: 883100

Geography

  • Parcel: 30-07-22-311-003
  • Lot: 91
  • Meridian: SEC 22 TWN 35N RNG 10E
  • Municipality: JOLIET
  • Latitude: 41.4963
  • Longitude: -88.0718

    Address

  • Full Address: 1513 Lantern Ln
  • Legal Unit: 3
  • Address - House Number: 1513
  • Address - Street Name: Lantern
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Joliet
  • Carrier Code: C042
  • 4-Digit Zip Code: 2910
  • Zip Code: 60433

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $581,370
  • Tax Rate Code Area: 3001

    Appraisal Valuation

  • Standard Deviation: 0.1778
  • Valuation Date: Aug 09, 2023
  • Confidence Score: 76
  • Final Value: 238,755
  • High Value: 281,222
  • Low Value: 196,287

    Market Valuation

  • Market Total Value: $225,129
  • Market Land Value: $44,349
  • Market Improvement Value: $180,780

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $75,043
  • Assessed Land Value: $14,783
  • Assessed Improvements Value: $60,260

    Exemptions

  • Homeowner Exemption: Yes
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 Preston Heights

Stats & Trends

Median Asking:

$220,000

Sale Price/ft²

$187

Below Asking

0.01%

Average Days on Market

51

Average Home Size

2097 ft²

Average Home Age

56.8 years

Currently For Sale

6 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: Steve Malik, RE/MAX Professionals Select
Last Updated: 3 years ago
Data Source: MRED, MLS# 11823285
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 1513 Lantern Lane built and last sold?
The property at 1513 Lantern Lane was built in 1958 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 1513 Lantern Lane is $32,825.
What are some comparable homes to 1513 Lantern Lane?
There are currently no comparable homes to 1513 Lantern Lane.
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