$251,000
●
House -
Off Market
232 N Melrose Avenue
Elgin, IL 60123
2 Beds
1 Bath
1,000 Ft²
$1,537
Est. Monthly
8.00%
Cap Rate
About This Property
Welcome home to this delightful 2 bedroom 1 bath home with 2.5 car
detached heated garage. Quaint front entry welcomes you into
updated living room with fresh paint, new wallpaper, chair rail &
ceiling fan - all 2024. Kitchen renovated in 2020 features sleek
cabinets, wood laminate flooring, tile backsplash and convenient
table space (new sink fixture 2024). Updated full bath on main
level has new tile flooring, toilet, sleek shower door and fixtures
- all 2024. Good size mud room off kitchen leads to large, fenced
(2018) yard with deck for summer fun. Large shed for all the
extras. Newer 6 panel doors, hardware and light fixtures throughout
add to overall aesthetic appeal. New blinds throughout. Both
bedrooms on 2nd level have comfortable accommodations & ample
storage. 2nd bedroom features a bonus storage nook for all your
belongings. Primary bedroom painted 2024. Water Htr 2015. Windows
2015. New front screen door 2024. Laundry in basement.
Detached garage also has its own electrical panel and ample
storage above.
Unit Size
1,000 Ft²
Days on Market
-
Land Size
0.15 acres
Price per sqft
$250
Property Type
House
Property Taxes
$309
HOA Dues
-
Year Built
1940
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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 #12032638)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 14, 2024 | Sold | ||
| Sold | |||
| Apr 18, 2024 | Listed by Home Sweet Home Ryan Realty | $250,000 | |
| Listed by Home Sweet Home Ryan Realty | |||
| Oct 6, 2021 | No longer available | - | |
| No longer available | |||
| Aug 23, 2020 | In contract | - | |
| In contract | |||
| Aug 17, 2020 | Listed | $165,000 | |
| Listed | |||
| | |||
|
CHARMING UPDATED AND REMODELED 2 STORY! THIS HOME IS WELL TAKEN CARE OF AND CUTE AS CAN BE! NEW KITCHEN CABINETRY AND FLOORING. BATHROOM UPDATED. NEWER LIVING ROOM CARPETING AND FIRST FLOOR RECENTLY PAINTED. SPACIOUS BEDROOMS FRESHLY PAINTED. ALL WINDOWS HAVE BEEN REPLACED MOST IN THE PAST 2 YEARS. NEW ASPHALT DRIVEWAY 2020. HUGE 24 X 20 HEATED GARAGE BUILT IN 2000. 6' WOOD PRIVACY FENCE IN 2018. GREAT DECK FOR BBQ'S AND ENTERTAINING. FULL BASEMENT WITH WORK SPACE AND LAUNDRY. BEAUTIFUL WELL MAINTAINED YARD INLCUDING 12 X 11 SHED. The manager has listed the unit size as 1000 square feet.
| |||
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About Northwest Elgin
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Listed by: Kelly O'Connell-Guzak, Home Sweet Home Ryan Realty
Last Updated: 3 years ago
Data Source: MRED, MLS# 12032638
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.
Last Updated: 3 years ago
Data Source: MRED, MLS# 12032638
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