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Lake Summerset 61019
214 Lake Summerset Road
$390,000
● House - Off Market

214 Lake Summerset Road

Lake Summerset, IL 61019
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,220 Ft²
$457,662
RealtyHop Estimate
14.44%
Since Sep 1, 2021
National-US
Primary Model

About This Property

EVERYTHING is NEW on this great Lake Summerset home.  Kitchen, baths, flooring, windows, HVAC, roof, Trex deck, Trex screened patio and Trex dock.  Done with the utmost care and quality.  Maintenance free.  Move in and enjoy!  This lakefront home is located in the no wake area with fabulous views, great fishing and swimming.  Furnishings negotiable. Just move in! With more than 2,300 year-round residents, Lake Summerset, a gated, lake community in Northwest Illinois, provides amazing amenities, easy access to several local communities and excellent investment opportunities for the lake enthusiast.
Unit Size
2,220 Ft²
Days on Market
-
Land Size
0.33 acres
Price per sqft
$180
Property Type
House
Property Taxes
$502
HOA Dues
$67
Year Built
1986

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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 #11090151)

Price History

Date / Event Date Event Price
Aug 4, 2021 Sold
Premium
Sold
May 26, 2021 Listed by Real People Realty, Inc. $399,900
Listed by Real People Realty, Inc.

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1986
  • Effective Year Built: 1986
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Bathroom Plumbing Fixtures: 8
  • Building Condition: 0
  • Building Quality: 9
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 1,920
  • Parking Space Count: 8
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 14,810
  • Lot Size Frontage Feet: 0
  • Total Building Area: 2,220
  • Building Area: 2,220
  • Building Area Measurement: B

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 2,220
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 5
  • Water Service: 6

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: DOVER SUBDIVISION
  • Land Acres: 0000000340
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: LOT 214 SECT 2 DOVER SUB LAKE SUMMERSET

Neighborhood

  • School District Name: Dakota Community Unit School District 201
  • Census Tract: 000100

Geography

  • District: 15
  • Section: 2
  • Parcel: 15-10-01-151-008
  • Lot: 214
  • Municipality: ROCK GROVE
  • Latitude: 42.4573
  • Longitude: -89.4158

    Address

  • Full Address: 214 Lake Summerset Rd
  • Address - House Number: 214
  • Address - Street Name: Lake Summerset
  • Address - Suffix Type: Rd
  • State: IL
  • City Name: Davis
  • Carrier Code: R002
  • 4-Digit Zip Code: 9510
  • Zip Code: 61019

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $750,222
  • Tax Rate Code Area: 15001

    Appraisal Valuation

  • Standard Deviation: 0.1188
  • Valuation Date: May 31, 2023
  • Confidence Score: 87
  • Final Value: 404,363
  • High Value: 452,422
  • Low Value: 356,304

    Market Valuation

  • Market Total Value: $234,174
  • Market Land Value: $100,668
  • Market Improvement Value: $133,506

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $78,058
  • Assessed Land Value: $33,556
  • Assessed Improvements Value: $44,502

    Sales

  • Current Sale Contract Date: Oct 17, 2006
  • Current Sale Recording Date: Oct 17, 2006
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 000000080403
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 Lake Summerset

Stats & Trends

Median Asking:

$327,450

Sale Price/ft²

$147

Below Asking

0.03%

Average Days on Market

60

Average Home Size

2655 ft²

Average Home Age

34.8 years

Currently For Sale

13 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: Karen Pioch, Real People Realty, Inc.
Last Updated: 3 years ago
Data Source: MRED, MLS# 11090151
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 214 Lake Summerset Road built and last sold?
The property at 214 Lake Summerset Road was built in 1986 and last sold on Oct 17, 2006 for $0.
How much is this home worth?
The estimated value of the home located at 214 Lake Summerset Road is $0.
What are some comparable homes to 214 Lake Summerset Road?
There are currently no comparable homes to 214 Lake Summerset Road.
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