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Ottawa 61350
2704 Cherie Lane
$305,000
● House - Off Market

2704 Cherie Lane

Ottawa, IL 61350
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
2,336 Ft²
$2,061
Est. Monthly

About This Property

Modern, updated and move-in ready, this 3-bedroom, 1.1-bathroom quad-level home is located in the desirable Wallace School District, offering generous living space and a versatile layout.    The main level features an inviting open-concept design that seamlessly connects the living area to the beautifully updated kitchen (2019), complete with new cabinetry, Quartz countertops, a breakfast bar island, and a spacious adjoining dining area. Just off the dining room, sliding glass doors open to the expanded patio (2021) and a beautifully landscaped backyard-perfect for relaxing or entertaining.    A few steps down, the lower level provides a flexible living space ideal for a second family room, home office, playroom, or fitness area, along with a convenient half bath. Upstairs, you'll find three bedrooms and a full bathroom.    The basement level includes a dedicated laundry area and ample storage space. A two-car garage rounds out this well-maintained home.    A fantastic opportunity in a sought-after location-schedule your showing today!
Unit Size
2,336 Ft²
Days on Market
-
Land Size
0.18 acres
Price per sqft
$133
Property Type
House
Property Taxes
$538
HOA Dues
-
Year Built
1974

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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.

Property Highlights

Garage
Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1974
  • Effective Year Built: 1974
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • 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: 8,021
  • Total Building Area: 1,863
  • Gross Building Area: 1,863
  • Building Area: 1,863
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,863
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GRACEFIELD SUB
  • Land Acres: 0000000184
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: GRACEFIELD SUB, LT 10 BLK 3 SEC 36-34-3

Neighborhood

  • School District Name: Wallace Community Consolidated School District 195
  • Census Tract: 962600

Geography

  • District: DA
  • Parcel: 14-36-327-010
  • Block: 3
  • Lot: 10
  • Meridian: SEC 36 TWN 34 RNG 03
  • Municipality: DAYTON TOWNSHIP
  • Latitude: 41.3706
  • Longitude: -88.8304

    Address

  • Full Address: 2704 Cherie Ln
  • Address - House Number: 2704
  • Address - Street Name: Cherie
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Ottawa
  • Carrier Code: C018
  • 4-Digit Zip Code: 1039
  • Zip Code: 61350

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $529,480
  • Tax Rate Code Area: DA005

    Appraisal Valuation

  • Standard Deviation: 0.2659
  • Valuation Date: Jun 14, 2023
  • Confidence Score: 62
  • Final Value: 213,580
  • High Value: 270,384
  • Low Value: 156,777

    Market Valuation

  • Market Total Value: $180,960
  • Market Land Value: $32,598
  • Market Improvement Value: $148,362

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $60,320
  • Assessed Land Value: $10,866
  • Assessed Improvements Value: $49,454

    Sales

  • Current Sale Contract Date: Oct 31, 2018
  • Current Sale Recording Date: Nov 02, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 201814765

    Financing

  • First Mortgage Financing Type: FIX
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 Ottawa

Stats & Trends

Median Asking:

$229,700

Sale Price/ft²

$156

Below Asking

0.02%

Average Days on Market

53

Average Home Size

1752 ft²

Average Home Age

50.6 years

Currently For Sale

71 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 1952 Columbus Street, Ottawa, IL, 61350

$1,250 /mo

  • 2 Beds
  • 1 Bath
  • 900 ft²
1952 Columbus Street, Ottawa, IL, 61350 Listing by Delores Barrera
Unit for rent at 615 Green Street, Ottawa, IL, 61350

$950 /mo

  • 2 Beds
  • 1 Bath
  • 600 ft²
615 Green Street #LOWER, Ottawa, IL, 61350 Listing by Shawn Sell
Unit for rent at 611 Webster Street, Ottawa, IL, 61350

$1,200 /mo

  • 2 Beds
  • 1 Bath
  • 980 ft²
611 Webster Street #B, Ottawa, IL, 61350 Listing by Irina Allison

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: George Shanley, Coldwell Banker Real Estate Group
Data Source: MRED, MLS# MRD12572771
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 2704 Cherie Lane built and last sold?
The property at 2704 Cherie Lane was built in 1974 and last sold on Oct 31, 2018 for $165,000.
How much is this home worth?
The estimated value of the home located at 2704 Cherie Lane is $0.
What are some comparable homes to 2704 Cherie Lane?
There are currently no comparable homes to 2704 Cherie Lane.
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