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Champaign 61821 Garden Hills
1601 Joanne Lane
$101,500
● House - Off Market

1601 Joanne Lane

Champaign, IL 61821
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,070 Ft²
$720
Est. Monthly
25.45%
Cap Rate

About This Property

Great investment opportunity! This 3-bedroom, 1-bath home offers strong rental potential and is already leased, making it an excellent option for investors looking for steady income. The property features a functional layout, spacious living area, and a nice-sized yard. Conveniently located near shopping, dining, and public transportation, this home provides both comfort for tenants and long-term value for owners. Don't miss your chance to add this leased property to your portfolio!
Unit Size
1,070 Ft²
Days on Market
-
Land Size
-
Price per sqft
$101
Property Type
House
Property Taxes
$189
HOA Dues
-
Year Built
1957

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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: 1957
  • Effective Year Built: 1957
  • 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: 15
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 432
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,014
  • Total Building Area: 1,073
  • Building Area: 1,073
  • 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 1ST PLAT
  • Land Acres: 0000000161
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: LOT 22 GARDEN HILLS SUB 1ST PLAT

Neighborhood

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

Geography

  • District: 04
  • Parcel: 41-20-02-335-015
  • Lot: 22
  • Meridian: SEC 02 TWN 19N RNG 08E
  • Municipality: CITY OF CHAMPAIGN
  • Latitude: 40.1331
  • Longitude: -88.2717

    Address

  • Full Address: 1601 Joanne Ln
  • Address - House Number: 1601
  • Address - Street Name: Joanne
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Champaign
  • Carrier Code: C059
  • 4-Digit Zip Code: 1511
  • Zip Code: 61821

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $247,644
  • Tax Rate Code Area: 4102

    Appraisal Valuation

  • Standard Deviation: 0.1118
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 88
  • Final Value: 92,549
  • High Value: 102,903
  • Low Value: 82,194

    Market Valuation

  • Market Total Value: $80,790
  • Market Land Value: $16,890
  • Market Improvement Value: $63,900

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $26,930
  • Assessed Land Value: $5,630
  • Assessed Improvements Value: $21,300

    Sales

  • Current Sale Contract Date: Nov 29, 2023
  • Current Sale Recording Date: Dec 04, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 17005
  • Previous Sale Recording Date: Oct 08, 2020
  • Previous Sale Contract Date: Oct 07, 2020
  • Previous Sale Amount: $43,500
  • Previous Sale Document Type: 71
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:

$150,000

Sale Price/ft²

$140

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 2801 Rachel Road, Champaign, IL, 61822

$2,500 /mo

  • 3 Beds
  • 2 Baths
  • 1,560 ft²
2801 Rachel Road, Champaign, IL, 61822 Listing by Scott Bechtel

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# MRD12452305
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 1601 Joanne Lane built and last sold?
The property at 1601 Joanne Lane was built in 1957 and last sold on Nov 29, 2023 for $80,000.
How much is this home worth?
The estimated value of the home located at 1601 Joanne Lane is $0.
What are some comparable homes to 1601 Joanne Lane?
There are currently no comparable homes to 1601 Joanne Lane.
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