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Elgin 60124 Northwest Elgin
2802 Colonial Drive
$237,000
● House - Off Market

2802 Colonial Drive

ELGIN, IL 60124
bedrooms
4 Beds
bathrooms
4 Baths, 2 Half Baths
square feet
1,876 Ft²
$380,913
RealtyHop Estimate
59.24%
Since Oct 1, 2017
National-US
Primary Model

About This Property

Awesome location backings to trees and views as far as the eye can see! 2-story foyer with hardwood entry and large 1/2 round window! Family room with vaulted ceilings, custom built-ins and fireplace with oak mantle!  Large eat-in kitchen with island, oak cabinetry,  desk and sliding glass doors to the  deck ! Spacious living/dining room combo! Master bedroom  walk-in closet and private bath! Basement with  4th bedroom/den, rec room with custom tiki wet bar,   1/2 bath!  District 301 schools! AGENTS PLEASE SEE AGENT REMARKS FOR OFFER SUBMISSION.
Unit Size
1,876 Ft²
Days on Market
-
Land Size
0.38 acres
Price per sqft
$128
Property Type
House
Property Taxes
$675
HOA Dues
-
Year Built
1994

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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 #09669101)

Price History

Date / Event Date Event Price
Sep 26, 2017 Sold
Premium
Sold
Jun 23, 2017 Listed by Infinity Realty Services 1 Inc $239,200
Listed by Infinity Realty Services 1 Inc

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1994
  • Effective Year Built: 1994
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • 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: 988
  • Garage Type: 1
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 16,117
  • Total Building Area: 2,864
  • Gross Building Area: 2,864
  • Building Area: 1,876
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 0
  • Heated Square Feet: 1,876
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RANDALL RIDGE
  • Land Acres: 0000000370
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: RANDALL RIDGE UNIT 3 LOT 76

Neighborhood

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

Geography

  • Parcel: 06-17-256-007
  • Lot: 76
  • Municipality: ELGIN
  • Latitude: 42.0385
  • Longitude: -88.3493

    Address

  • Full Address: 2802 Colonial Dr
  • Legal Unit: 3
  • Address - House Number: 2802
  • 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: $898,424
  • Tax Rate Code Area: EL035

    Appraisal Valuation

  • Standard Deviation: 0.1551
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 80
  • Final Value: 395,443
  • High Value: 456,789
  • Low Value: 334,098

    Market Valuation

  • Market Total Value: $299,454
  • Market Land Value: $70,006
  • Market Improvement Value: $229,448

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $99,778
  • Assessed Land Value: $23,326
  • Assessed Improvements Value: $76,452

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: May 30, 2018
  • Current Sale Recording Date: Jun 29, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2018K031338
  • Previous Sale Recording Date: Sep 28, 2017
  • Previous Sale Contract Date: Jul 25, 2017
  • Previous Sale Amount: $237,000
  • Previous Sale Document Type: 68

    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 Northwest Elgin

Stats & Trends

Median Asking:

$365,245

Sale Price/ft²

$201

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1620 ft²

Average Home Age

44.4 years

Currently For Sale

40 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: , Infinity Realty Services 1 Inc
Last Updated: 3 years ago
Data Source: MRED, MLS# 09669101
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 2802 Colonial Drive built and last sold?
The property at 2802 Colonial Drive was built in 1994 and last sold on May 30, 2018 for $292,000.
How much is this home worth?
The estimated value of the home located at 2802 Colonial Drive is $0.
What are some comparable homes to 2802 Colonial Drive?
There are currently no comparable homes to 2802 Colonial Drive.
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