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Urbana 61802
1807 Summit Drive
$229,900
● House - Off Market

1807 Summit Drive

Urbana, IL 61802
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,579 Ft²
$229,900
RealtyHop Estimate
0.00%
Since Dec 1, 2023
National-US
Primary Model

About This Property

Located on a quiet and peaceful street in Myra Ridge Subdivision, this 3 bedroom, 2 bath multi-level home is ready for new owners. Updated kitchen cabinets and quartz countertops in 2017, new roof in 2021, new HVAC in 2019 are a few of the highlights in this wonderful home. The covered patio in the fenced backyard provides great outdoor entertaining space. The lower level consists of a family room with wood stove, office, laundry and second bath, the attached 2 car garage completes the home. Schedule your showing today!
Unit Size
1,579 Ft²
Days on Market
-
Land Size
-
Price per sqft
$146
Property Type
House
Property Taxes
$403
HOA Dues
-
Year Built
1978

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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 #11850889)

Price History

Date / Event Date Event Price
Nov 9, 2023 Sold
Premium
Sold
Aug 4, 2023 Listed by Realty Select One $229,900
Listed by Realty Select One

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1978
  • Effective Year Built: 1978
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 41
  • Exterior Walls Type: 12
  • Interior Walls Type: 6
  • Roof Shape Type: 0
  • Roof Cover Type: 14
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 6
  • Garage Type: 1
  • Garage Square Area: 451
  • Parking Space Count: 2
  • Patio Type: 55
  • Porch Type: 36
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,552
  • Total Building Area: 1,113
  • Building Area: 1,113
  • Building Area Measurement: M

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 3
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MYRA RIDGE 1ST SUB
  • Land Acres: 0000000150
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 26 MYRA RIDGE 1ST SUB

Neighborhood

  • School District Name: Urbana School District 116
  • School Tax School District: 101
  • Census Tract: 005702

Geography

  • District: 09
  • Parcel: 93-21-28-228-004
  • Lot: 26
  • Meridian: SEC 28 TWN 19N RNG 09E
  • Municipality: CUNNINGHAM
  • Latitude: 40.083
  • Longitude: -88.1843

    Address

  • Full Address: 1807 Summit Dr
  • Address - House Number: 1807
  • Address - Street Name: Summit
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Urbana
  • Carrier Code: R008
  • 4-Digit Zip Code: 7027
  • Zip Code: 61802

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $483,292
  • Tax Rate Code Area: 9303

    Appraisal Valuation

  • Standard Deviation: 0.1118
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 88
  • Final Value: 223,097
  • High Value: 248,057
  • Low Value: 198,137

    Market Valuation

  • Market Total Value: $166,950
  • Market Land Value: $44,460
  • Market Improvement Value: $122,490

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $55,650
  • Assessed Land Value: $14,820
  • Assessed Improvements Value: $40,830

    Sales

  • Current Sale Contract Date: Nov 09, 2023
  • Current Sale Recording Date: Nov 09, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 16053
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 Urbana

Stats & Trends

Median Asking:

$239,900

Sale Price/ft²

$163

Below Asking

0.01%

Average Days on Market

59

Average Home Size

1736 ft²

Average Home Age

52 years

Currently For Sale

79 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: Creg McDonald, Realty Select One
Last Updated: 3 years ago
Data Source: MRED, MLS# 11850889
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 1807 Summit Drive built and last sold?
The property at 1807 Summit Drive was built in 1978 and last sold on Nov 9, 2023 for $230,000.
How much is this home worth?
The estimated value of the home located at 1807 Summit Drive is $0.
What are some comparable homes to 1807 Summit Drive?
There are currently no comparable homes to 1807 Summit Drive.
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