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Normal 61761
2244 Elwood Lane
$349,900
● House - Off Market

2244 Elwood Lane

Normal, IL 61761
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,994 Ft²
$2,299
Est. Monthly
$5
HOA / Fees
5.90%
Cap Rate
Unit Size
2,994 Ft²
Days on Market
-
Land Size
-
Price per sqft
$117
Property Type
House
Property Taxes
$575
HOA Dues
$5
Year Built
2003

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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: 2003
  • Effective Year Built: 2003
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 4
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 483
  • Garage Type: 7
  • Garage Square Area: 441
  • Parking Space Count: 0
  • Patio Type: 11
  • Porch Type: 106
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,279
  • Lot Size Depth Feet: 1,200
  • Lot Size Frontage Feet: 690
  • Total Building Area: 2,162
  • Building Area: 1,679
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,679
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: NORTH FIELDS SUB
  • Land Acres: 0000000190
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: NORTH FIELDS SUB 2ND ADD LT 54

Neighborhood

  • School District Name: McLean County Unit School District 5
  • Census Tract: 000105

Zoning

  • Zoning: R-1B

Geography

  • District: 30
  • Parcel: 14-11-452-014
  • Lot: 54
  • Meridian: SEC 11 TWN 24N RNG 02E
  • Municipality: NORMAL
  • Latitude: 40.5489
  • Longitude: -88.9498

    Address

  • Full Address: 2244 Elwood Ln
  • Address - House Number: 2244
  • Address - Street Name: Elwood
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Normal
  • Carrier Code: R049
  • 4-Digit Zip Code: 5470
  • Zip Code: 61761

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $607,494
  • Tax Rate Code Area: 3001

    Appraisal Valuation

  • Standard Deviation: 0.1862
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 75
  • Final Value: 299,601
  • High Value: 355,406
  • Low Value: 243,797

    Market Valuation

  • Market Total Value: $220,881
  • Market Land Value: $43,731
  • Market Improvement Value: $177,150

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $73,627
  • Assessed Land Value: $14,577
  • Assessed Improvements Value: $59,050

    Sales

  • Current Sale Contract Date: Oct 24, 2014
  • Current Sale Recording Date: Nov 14, 2014
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2014-00020220
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 Normal

Stats & Trends

Median Asking:

$275,000

Sale Price/ft²

$120

Below Asking

0.01%

Average Days on Market

43

Average Home Size

2174 ft²

Average Home Age

40.7 years

Currently For Sale

40 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

Rentals Near You

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MRED

Listed by: Deb Connor, Coldwell Banker Real Estate Group
Data Source: MRED, MLS# MRD12364198
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 2244 Elwood Lane built and last sold?
The property at 2244 Elwood Lane was built in 2003 and last sold on Oct 24, 2014 for $192,000.
How much is this home worth?
The estimated value of the home located at 2244 Elwood Lane is $0.
What are some comparable homes to 2244 Elwood Lane?
There are currently no comparable homes to 2244 Elwood Lane.
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