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McHenry 60013 Root Springs
2507 Grove Lane
$365,000
● House - Off Market

2507 Grove Lane

Cary, IL 60013
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,379 Ft²
$379,347
RealtyHop Estimate
1.16%
Since Jul 1, 2022
National-US
Primary Model

About This Property

RIVERFRONT LIVING AT IT'S BEST WITH THIS 3 BEDS / 2 BATHS RANCH HOUSE WITH BOATHOUSE AND LARGE DECK WITH 50 FRONT FOOTAGE ON THE LOWER FOX RIVER AND RIGHT ACROSS THE STREET FROM THE CARY COUNTRY CLUB!  This House has it all w/ Large Living Room w/ Hardwood Floors & Wood Burning Fireplace and Door to the Large Deck, Eat-In Kitchen w/ Ceramic Tile & Island and Corian Countertops w/ Dark Walnut Cabinets and All Stainless Steel Appliances, Spacious Master Bedroom w/ Hardwood Floors & Slider to the Deck, Large Walk-In Closet, and Private En-Suite Master Bath, 2nd Bed w/ Hardwood Floors, 3rd Bedroom w/ Ceramic Tile and could be used as an Office or Den, Big Laundry Room, Pier and Boat House on the Property, 2 Car Detached Garage, and Large Parking Side Apron, House is Sold "As-Is"!
Unit Size
1,379 Ft²
Days on Market
-
Land Size
0.26 acres
Price per sqft
$272
Property Type
House
Property Taxes
$543
HOA Dues
-
Year Built
1924

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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
With View

Building Info

Overview

    General

  • Year Built: 1924
  • Effective Year Built: 1924
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,527
  • Lot Size Frontage Feet: 460
  • Total Building Area: 1,379
  • Building Area: 1,379
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,379
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: ROOT SPRINGS SUB
  • Land Acres: 0000000242
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: DOC 2022R0022899 LT 9 ROOT SPRINGS SUB

Neighborhood

  • School District Name: Cary Community Consolidated School District 26
  • Census Tract: 871600

Geography

  • Parcel: 19-24-251-008
  • Block: 251
  • Lot: 9
  • Municipality: ALGONQUIN TWP
  • Latitude: 42.1921
  • Longitude: -88.2462

    Address

  • Full Address: 2507 Grove Ln
  • Address - House Number: 2507
  • Address - Street Name: Grove
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Cary
  • Carrier Code: C012
  • 4-Digit Zip Code: 2742
  • Zip Code: 60013

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $679,936
  • Tax Rate Code Area: 19041

    Appraisal Valuation

  • Standard Deviation: 0.165
  • Valuation Date: Jan 10, 2024
  • Confidence Score: 79
  • Final Value: 322,319
  • High Value: 375,502
  • Low Value: 269,136

    Market Valuation

  • Market Total Value: $228,978
  • Market Land Value: $84,786
  • Market Improvement Value: $144,192

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $76,326
  • Assessed Land Value: $28,262
  • Assessed Improvements Value: $48,064

    Sales

  • Current Sale Contract Date: Jun 23, 2022
  • Current Sale Recording Date: Jun 28, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 4
  • Current Sale Input Document Number: 22899
  • Previous Sale Recording Date: Dec 24, 2008
  • Previous Sale Contract Date: Dec 18, 2008
  • Previous Sale Amount: $190,000
  • Previous Sale Document Type: 27
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 Root Springs

Stats & Trends

Median Asking:

$0

Sale Price/ft²

$0

Above Asking

0.00%

Average Days on Market

0

Average Home Size

0 ft²

Average Home Age

2026 years

Currently For Sale

0 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

Unit for rent at 1058 E Danbury Drive, Cary, IL, 60013

$2,600 /mo

  • 2 Beds
  • 2 Baths
  • 1,497 ft²
1058 E Danbury Drive, Cary, IL, 60013 Listing by Carol Hoefer
Unit for rent at 1562 N Harrison Street, Algonquin, IL, 60102

$2,850 /mo

  • 3 Beds
  • 2 Baths
  • 2,220 ft²
1562 N Harrison Street, Algonquin, IL, 60102 Listing by Jack Domanski

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Gregory Klemstein, RE/MAX Plaza
Data Source: MRED, MLS# MRD11408066
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 2507 Grove Lane built and last sold?
The property at 2507 Grove Lane was built in 1924 and last sold on Jun 23, 2022 for $365,000.
How much is this home worth?
The estimated value of the home located at 2507 Grove Lane is $378,750.
What are some comparable homes to 2507 Grove Lane?
There are currently no comparable homes to 2507 Grove Lane.
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