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Morris 60450
1565 Lake Drive
$425,000
● House - Off Market

1565 Lake Drive

Morris, IL 60450
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,871 Ft²
$2,962
Est. Monthly

About This Property

Beautifully maintained ranch home on water! 3 bedrooms, 2 1/1 baths .  Full basement (unfinished). Appliances remain.  SOLD BEFORE PRINT.
Unit Size
1,871 Ft²
Days on Market
-
Land Size
0.72 acres
Price per sqft
$227
Property Type
House
Property Taxes
$875
HOA Dues
-
Year Built
1997

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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
Fireplace

Building Info

Overview

    General

  • Year Built: 1997
  • Effective Year Built: 1997
  • 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: 37,897
  • Total Building Area: 1,871
  • Gross Building Area: 1,871
  • Building Area: 1,871
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,871
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LAKEWOOD ESTATES
  • Land Acres: 0000000870
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: LAKEWOOD ESTATES 5TH SUB LT 43 SEC 5-33-7

Neighborhood

  • School District Name: Morris School District 54
  • Census Tract: 000400

Geography

  • District: 03
  • Parcel: 05-05-404-005
  • Lot: 43
  • Meridian: SEC 05 TWN 33N RNG 07W
  • Municipality: ERIENNA TOWNSHIP
  • Latitude: 41.3629
  • Longitude: -88.4468

    Address

  • Full Address: 1565 Lake Dr
  • Address - House Number: 1565
  • Address - Street Name: Lake
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Morris
  • Carrier Code: C010
  • 4-Digit Zip Code: 2432
  • Zip Code: 60450

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $940,609
  • Tax Rate Code Area: 3002

    Appraisal Valuation

  • Standard Deviation: 0.1926
  • Valuation Date: Aug 09, 2023
  • Confidence Score: 74
  • Final Value: 343,707
  • High Value: 409,912
  • Low Value: 277,501

    Market Valuation

  • Market Total Value: $337,962
  • Market Land Value: $89,712
  • Market Improvement Value: $248,250

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $112,654
  • Assessed Land Value: $29,904
  • Assessed Improvements Value: $82,750

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Feb 14, 2019
  • Current Sale Recording Date: Feb 19, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 582851
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 Morris

Stats & Trends

Median Asking:

$307,000

Sale Price/ft²

$174

Below Asking

0.02%

Average Days on Market

43

Average Home Size

1933 ft²

Average Home Age

59 years

Currently For Sale

18 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: Vicki Geiger, RE/MAX Top Properties
Data Source: MRED, MLS# MRD12550249
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 1565 Lake Drive built and last sold?
The property at 1565 Lake Drive was built in 1997 and last sold on Feb 14, 2019 for $267,500.
How much is this home worth?
The estimated value of the home located at 1565 Lake Drive is $425,147.
What are some comparable homes to 1565 Lake Drive?
There are currently no comparable homes to 1565 Lake Drive.
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