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Tinley Park 60477
16306 Bormet Drive
$385,000
● House - Off Market

16306 Bormet Drive

Tinley Park, IL 60477
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,100 Ft²
$383,568
RealtyHop Estimate
-0.37%
Since Nov 1, 2023
National-US
Primary Model

About This Property

This lovely quad level home features an eat-in kitchen with ceramic tile & pantry. A spacious living room & dining room round out the main level. Upstairs you will find 3 generous bedrooms. The primary bedroom features double closets and attached shared bathroom with Corian countertops. Downstairs boasts a generous family room featuring a cozy brick fireplace, the homes second full bathroom and a huge laundry/storage room to meet your needs. On the lowest level you will find a finished basement with dry bar that is great for entertaining and additional living space. Unwind outside in a large fenced yard with patio. Close to commuter train, parks, dining, shopping and everything Tinley Park has to offer. Closing in late Sept/Early Oct requested.
Unit Size
2,100 Ft²
Days on Market
-
Land Size
-
Price per sqft
$183
Property Type
House
Property Taxes
$549
HOA Dues
-
Year Built
1987

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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.

Last updated: 3 years ago (MRED MLS #11832496)

Price History

Date / Event Date Event Price
Oct 3, 2023 Sold
Premium
Sold
Jul 17, 2023 Listed by Compass $385,000
Listed by Compass

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1987
  • Effective Year Built: 1987
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 41
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 0
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,159
  • Lot Size Depth Feet: 710
  • Lot Size Frontage Feet: 1,290
  • Total Building Area: 1,551
  • Gross Building Area: 1,551
  • Building Area: 1,551
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 1,551
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GALLAGHER & HENRYS TINLEY MEADOWS UNIT4
  • Land Acres: 0000000210
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-34
  • Legal Description 1: (GALLAGHER) & (HENRYS) (TINLEY) MEADOWS (UNIT4) BNG A SUB OF THE EH OF THE SE SEC 23-36-12

Neighborhood

  • School District Name: Consolidated High School District 230
  • Census Tract: 824122

Geography

  • District: 28
  • Parcel: 27-23-419-011-0000
  • Lot: 94
  • Meridian: SEC 23 TWN 36N RNG 12E
  • Municipality: ORLAND
  • Latitude: 41.5934
  • Longitude: -87.8157

    Address

  • Full Address: 16306 Bormet Dr
  • Legal Unit: 4
  • Address - House Number: 16306
  • Address - Street Name: Bormet
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Tinley Park
  • Carrier Code: C029
  • 4-Digit Zip Code: 8224
  • Zip Code: 60477

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $674,414
  • Tax Rate Code Area: 28013

    Appraisal Valuation

  • Standard Deviation: 0.2276
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 68
  • Final Value: 370,412
  • High Value: 454,734
  • Low Value: 286,090

    Market Valuation

  • Market Total Value: $350,000
  • Market Land Value: $59,530
  • Market Improvement Value: $290,470

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $35,000
  • Assessed Land Value: $5,953
  • Assessed Improvements Value: $29,047

    Sales

  • Current Sale Contract Date: Oct 03, 2023
  • Current Sale Recording Date: Oct 04, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 29164
  • Previous Sale Recording Date: Jun 03, 2014
  • Previous Sale Contract Date: May 07, 2014
  • Previous Sale Amount: $255,000
  • 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 Tinley Park

Stats & Trends

Median Asking:

$344,990

Sale Price/ft²

$196

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1785 ft²

Average Home Age

32 years

Currently For Sale

117 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 7969 164th Court, Tinley Park, IL, 60477

$2,100 /mo

  • 2 Beds
  • 1 Bath
  • 900 ft²
7969 164th Court #7969, Tinley Park, IL, 60477 Listing by Mary Maloney
Unit for rent at 7929 163rd Court, Tinley Park, IL, 60477

$2,200 /mo

  • 2 Beds
  • 1 Bath
  • 1,150 ft²
7929 163rd Court #7929, Tinley Park, IL, 60477 Listing by Joanna Staszel
Unit for rent at 7325 Tiffany Drive, Orland Park, IL, 60462

$2,100 /mo

  • 2 Beds
  • 2 Baths
  • 1,000 ft²
7325 Tiffany Drive #2A, Orland Park, IL, 60462 Listing by Mai Hamadeh

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Jayne Schirmacher, Compass
Last Updated: 3 years ago
Data Source: MRED, MLS# 11832496
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 16306 Bormet Drive built and last sold?
The property at 16306 Bormet Drive was built in 1987 and last sold on Oct 3, 2023 for $385,000.
How much is this home worth?
The estimated value of the home located at 16306 Bormet Drive is $391,432.
What are some comparable homes to 16306 Bormet Drive?
There are currently no comparable homes to 16306 Bormet Drive.
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