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Normal 61761
300 Melody Lane
$242,500
● House - Off Market

300 Melody Lane

Normal, IL 61761
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,595 Ft²
$1,830
Est. Monthly
7.95%
Cap Rate
Unit Size
2,595 Ft²
Days on Market
-
Land Size
-
Price per sqft
$106
Property Type
House
Property Taxes
$484
HOA Dues
-
Year Built
1990

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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

Building Info

Overview

    General

  • Year Built: 1990
  • Effective Year Built: 1990
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 150
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 250
  • Garage Type: 7
  • Garage Square Area: 484
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 106
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 15,694
  • Lot Size Depth Feet: 1,600
  • Lot Size Frontage Feet: 490
  • Total Building Area: 2,227
  • Building Area: 1,977
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,977
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: TOWANDA PARK PLACE
  • Land Acres: 0000000360
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: LOT 9 TOWANDA PARK PLACE SUB

Neighborhood

  • School District Name: McLean County Unit School District 5
  • Census Tract: 000504

Zoning

  • Zoning: R-1B

Geography

  • District: 30
  • Parcel: 14-26-105-028
  • Lot: 9
  • Meridian: SEC 26 TWN 24N RNG 02E
  • Municipality: NORMAL
  • Latitude: 40.5154
  • Longitude: -88.9584

    Address

  • Full Address: 300 Melody Ln
  • Address - House Number: 300
  • Address - Street Name: Melody
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Normal
  • Carrier Code: R011
  • 4-Digit Zip Code: 2142
  • Zip Code: 61761

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $563,244
  • Initial Tax Delinquent Year: 2022
  • Tax Rate Code Area: 3001

    Appraisal Valuation

  • Standard Deviation: 0.2079
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 71
  • Final Value: 259,321
  • High Value: 313,260
  • Low Value: 205,382

    Market Valuation

  • Market Total Value: $188,103
  • Market Land Value: $31,845
  • Market Improvement Value: $156,258

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $62,701
  • Assessed Land Value: $10,615
  • Assessed Improvements Value: $52,086

    Sales

  • Current Sale Contract Date: Mar 02, 2009
  • Current Sale Recording Date: Mar 05, 2009
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2009-00006616
  • Previous Sale Recording Date: Oct 31, 2005
  • Previous Sale Contract Date: Oct 28, 2005
  • Previous Sale Amount: $156,000
  • 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 Normal

Stats & Trends

Median Asking:

$277,000

Sale Price/ft²

$120

Below Asking

0.01%

Average Days on Market

42

Average Home Size

2083 ft²

Average Home Age

42.2 years

Currently For Sale

44 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

Rentals Near You

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MRED

Listed by: Penny Wilson, Coldwell Banker Real Estate Group
Data Source: MRED, MLS# MRD12380361
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 300 Melody Lane built and last sold?
The property at 300 Melody Lane was built in 1990 and last sold on Mar 2, 2009 for $172,000.
How much is this home worth?
The estimated value of the home located at 300 Melody Lane is $0.
What are some comparable homes to 300 Melody Lane?
There are currently no comparable homes to 300 Melody Lane.
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