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Normal 61761
1515 N Main Street
$140,000
● House - Off Market

1515 N Main Street

Normal, IL 61761
bedrooms
2 Beds
bathrooms
1 Bath
square feet
1,784 Ft²
$154,572
RealtyHop Estimate
3.05%
Since Apr 1, 2023
National-US
Primary Model

About This Property

Property could be commercial or residential. Sold As Is condition.  B1 Zoning which allows for business and investment opportunities.   Close to interstate.
Unit Size
1,784 Ft²
Days on Market
-
Land Size
-
Price per sqft
$84
Property Type
House
Property Taxes
$356
HOA Dues
-
Year Built
1956

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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 #11713598)

Price History

Date / Event Date Event Price
Mar 9, 2023 Sold
Premium
Sold
Feb 7, 2023 No longer available -
No longer available
Feb 5, 2023 Listed by RE/MAX Choice $150,000
Listed by RE/MAX Choice
Jun 25, 2021 Relisted $350,000
Relisted
Jun 12, 2021 No longer available -
No longer available
Show More

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1956
  • Effective Year Built: 1956
  • Building Count: 1
  • Total Rooms: 4
  • 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: 961
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 11
  • Porch Type: 106
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 43,444
  • Lot Size Depth Feet: 4,300
  • Lot Size Frontage Feet: 1,000
  • Total Building Area: 1,922
  • Building Area: 961
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 961
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FAIRVIEW ACRES SUB
  • Land Acres: 0000000997
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: FAIRVIEW ACRES SUB LOT 10

Neighborhood

  • School District Name: McLean County Unit School District 5
  • Census Tract: 000108

Zoning

  • Zoning: C-1

Geography

  • District: 30
  • Parcel: 14-21-126-011
  • Lot: 10
  • Meridian: SEC 21 TWN 24N RNG 02E
  • Municipality: NORMAL
  • Latitude: 40.5292
  • Longitude: -88.996

    Address

  • Full Address: 1515 N Main St
  • Address - House Number: 1515
  • Street Direction: N
  • Address - Street Name: Main
  • Address - Suffix Type: St
  • State: IL
  • City Name: Normal
  • Carrier Code: C041
  • 4-Digit Zip Code: 1111
  • Zip Code: 61761

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $442,342
  • Tax Rate Code Area: 3001

    Appraisal Valuation

  • Standard Deviation: 0.1931
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 74
  • Final Value: 175,322
  • High Value: 209,194
  • Low Value: 141,451

    Market Valuation

  • Market Total Value: $147,726
  • Market Land Value: $51,174
  • Market Improvement Value: $96,552

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $49,242
  • Assessed Land Value: $17,058
  • Assessed Improvements Value: $32,184

    Sales

  • Current Sale Contract Date: Feb 09, 2023
  • Current Sale Recording Date: Mar 15, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3257
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

2057 ft²

Average Home Age

41.8 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

Rentals Near You

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MRED

Listed by: Danita Punke, RE/MAX Choice
Last Updated: 3 years ago
Data Source: MRED, MLS# 11713598
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 1515 North Main Street built and last sold?
The property at 1515 North Main Street was built in 1956 and last sold on Feb 9, 2023 for $140,000.
How much is this home worth?
The estimated value of the home located at 1515 North Main Street is $154,432.
What are some comparable homes to 1515 North Main Street?
There are currently no comparable homes to 1515 North Main Street.
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