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Elgin 60124 Northwest Elgin
2800 Colonial Drive
$428,000
● House - Off Market

2800 Colonial Drive

Elgin, IL 60124
bedrooms
5 Beds
bathrooms
4 Baths, 1 Half Bath
square feet
2,210 Ft²
$409,686
RealtyHop Estimate
0.17%
Since Jul 1, 2023
National-US
Primary Model

About This Property

Completely gorgeous Shelbourne model in Randall Ridge subdivision.  This home backs up to wetlands and has no homes built behind it.  Enjoy nature off your back deck, next to the pool or from the screened in porch. Deck was rebuilt in 2020 with new composite materials.  Inside you will find a newly remodeled kitchen. Including granite counter tops, hardwood floors, new appliances and wall removed between kitchen and dining room to give it that open floor plan feeling.  All windows replaced throughout the house in 2021. Total of five bedrooms four upstairs and one in the walkout basement (including a full bath).  Finished basement for extra living space.  Nothing to do here but move in and enjoy the neighborhood.
Unit Size
2,210 Ft²
Days on Market
-
Land Size
0.23 acres
Price per sqft
$185
Property Type
House
Property Taxes
$783
HOA Dues
-
Year Built
1994

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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.

Last updated: 3 years ago (MRED MLS #11774697)

Price History

Date / Event Date Event Price
Jun 21, 2023 Sold
Premium
Sold
May 2, 2023 Listed by RE/MAX Horizon $409,000
Listed by RE/MAX Horizon

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1994
  • Effective Year Built: 1994
  • Building Count: 1
  • Total Rooms: 9
  • Bedroom Count: 4
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 1,055
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,019
  • Lot Size Depth Feet: 1,360
  • Lot Size Frontage Feet: 750
  • Total Building Area: 3,265
  • Gross Building Area: 3,265
  • Building Area: 2,210
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 0
  • Heated Square Feet: 2,210
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RANDALL RIDGE
  • Land Acres: 0000000230
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: RANDALL RIDGE UNIT 3 LOT 77

Neighborhood

  • School District Name: Central Community Unit School District 301
  • Census Tract: 851904

Geography

  • Parcel: 06-17-256-008
  • Lot: 77
  • Municipality: ELGIN
  • Latitude: 42.0384
  • Longitude: -88.3491

    Address

  • Full Address: 2800 Colonial Dr
  • Legal Unit: 3
  • Address - House Number: 2800
  • Address - Street Name: Colonial
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Elgin
  • Carrier Code: R028
  • 4-Digit Zip Code: 8040
  • Zip Code: 60124

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $971,818
  • Tax Rate Code Area: EL035

    Appraisal Valuation

  • Standard Deviation: 0.1505
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 81
  • Final Value: 423,629
  • High Value: 487,405
  • Low Value: 359,853

    Market Valuation

  • Market Total Value: $322,446
  • Market Land Value: $70,006
  • Market Improvement Value: $252,440

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $107,439
  • Assessed Land Value: $23,326
  • Assessed Improvements Value: $84,113

    Sales

  • Current Sale Contract Date: Jun 15, 2023
  • Current Sale Recording Date: Jun 22, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 20634
  • Previous Sale Recording Date: Aug 16, 2006
  • Previous Sale Contract Date: Aug 11, 2006
  • Previous Sale Amount: $325,000
  • Previous Sale Document Type: 71
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 Northwest Elgin

Stats & Trends

Median Asking:

$365,245

Sale Price/ft²

$201

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1689 ft²

Average Home Age

42.7 years

Currently For Sale

39 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 2030 Padua Drive, Elgin, IL, 60123

$4,000 /mo

  • 4 Beds
  • 2 Baths
  • 3,561 ft²
2030 Padua Drive, Elgin, IL, 60123 Listing by Valerie Rivelli
Unit for rent at 2460 Otter Creek Lane, Elgin, IL, 60123

$4,200 /mo

  • 4 Beds
  • 2 Baths
2460 Otter Creek Lane, Elgin, IL, 60123 Listing by Ketan Thakkar

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Ron Ewing, RE/MAX Horizon
Last Updated: 3 years ago
Data Source: MRED, MLS# 11774697
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 2800 Colonial Drive built and last sold?
The property at 2800 Colonial Drive was built in 1994 and last sold on Jun 15, 2023 for $428,000.
How much is this home worth?
The estimated value of the home located at 2800 Colonial Drive is $0.
What are some comparable homes to 2800 Colonial Drive?
There are currently no comparable homes to 2800 Colonial Drive.
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