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Bloomington 61704 Lakewood-Hillcrest
2317 Rainbow Avenue
$179,900
● House - Off Market

2317 Rainbow Avenue

Bloomington, IL 61704
bedrooms
4 Beds
bathrooms
2 Baths
square feet
2,134 Ft²
$181,295
RealtyHop Estimate
0.78%
Since Jun 1, 2023
National-US
Primary Model

About This Property

Real nice 4 bedroom, 2 full bath with updated Kitchen with all appliances and french door to deck and fenced yard. Formal living room and 3 bedrooms up. Lower level has family room with Brick fireplace, entertainment room with bar, bedroom and full bath and storage room. close to schools and trail
Unit Size
2,134 Ft²
Days on Market
-
Land Size
-
Price per sqft
$84
Property Type
House
Property Taxes
$276
HOA Dues
-
Year Built
1978

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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 #11742535)

Price History

Date / Event Date Event Price
May 5, 2023 Sold
Premium
Sold
Mar 22, 2023 Listed by Coldwell Banker Real Estate Group $179,900
Listed by Coldwell Banker Real Estate Group

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1978
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 1
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 40
  • Exterior Walls Type: 18
  • Interior Walls Type: 3
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Cover: 9
  • Basement Type: 2
  • Basement Area: 1,067
  • Garage Type: 1
  • Garage Square Area: 228
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0
  • Location Influence Type: 118

    Dimensions

  • Lot Size Square Feet: 5,938
  • Lot Size Depth Feet: 1,160
  • Lot Size Frontage Feet: 550
  • Total Building Area: 2,362
  • Gross Building Area: 2,362
  • Building Area: 2,134
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 2,134
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LAKEWOOD ESTATES
  • Land Acres: 0000000136
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LAKEWOOD ESTATES SUB LOT 192

Neighborhood

  • School District Name: Bloomington School District 87
  • School Tax School District: 087
  • Census Tract: 001106

Zoning

  • Zoning: R1C

Geography

  • District: 40
  • Parcel: 14-36-151-009
  • Lot: 192
  • Meridian: SEC 36 TWN 24N RNG 02E
  • Municipality: CITY OF BLOOMINGTON
  • Latitude: 40.4991
  • Longitude: -88.9419

    Address

  • Full Address: 2317 Rainbow Ave
  • Address - House Number: 2317
  • Address - Street Name: Rainbow
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Bloomington
  • Carrier Code: C072
  • 4-Digit Zip Code: 2331
  • Zip Code: 61704

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $355,958
  • Tax Rate Code Area: 4001

    Appraisal Valuation

  • Standard Deviation: 0.2119
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 71
  • Final Value: 205,326
  • High Value: 248,847
  • Low Value: 161,806

    Market Valuation

  • Market Total Value: $143,649
  • Market Land Value: $27,654
  • Market Improvement Value: $115,995

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $47,883
  • Assessed Land Value: $9,218
  • Assessed Improvements Value: $38,665

    Sales

  • Current Sale Contract Date: Apr 01, 2023
  • Current Sale Recording Date: May 11, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 5941
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 Lakewood-Hillcrest

Stats & Trends

Median Asking:

$219,000

Sale Price/ft²

$123

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1602 ft²

Average Home Age

48.3 years

Currently For Sale

3 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: Mark Haeffele, Coldwell Banker Real Estate Group
Last Updated: 3 years ago
Data Source: MRED, MLS# 11742535
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 2317 Rainbow Avenue built and last sold?
The property at 2317 Rainbow Avenue was built in 1978 and last sold on Apr 1, 2023 for $180,000.
How much is this home worth?
The estimated value of the home located at 2317 Rainbow Avenue is $0.
What are some comparable homes to 2317 Rainbow Avenue?
There are currently no comparable homes to 2317 Rainbow Avenue.
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