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Savoy 61822
305 Potomac Avenue
$430,000
● House - Off Market

305 Potomac Avenue

Savoy, IL 61874
bedrooms
4 Beds
bathrooms
4 Baths, 1 Half Bath
square feet
2,487 Ft²
$420,704
RealtyHop Estimate
0.17%
Since Jul 1, 2023
National-US
Primary Model

About This Property

Fantastic 5 bedroom 2-story located in Liberty on the Lakes.  Beautiful hardwood floors greet you as you enter and lead you to the open floorplan where the kitchen, dining, and great room are all open to each other.  Upstairs you will find 4 bedrooms including the master bedroom with double closets as well as a separate tub and shower.  The finished basement has another bedroom and a full bathroom as well.  The yard is fenced and the garage is oversized to allow for plenty of storage.
Unit Size
2,487 Ft²
Days on Market
-
Land Size
-
Price per sqft
$169
Property Type
House
Property Taxes
$722
HOA Dues
$19
Year Built
-

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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 #11735549)

Price History

Date / Event Date Event Price
Jun 16, 2023 Sold
Premium
Sold
Mar 10, 2023 Listed by eXp Realty,LLC-Cha $420,000
Listed by eXp Realty,LLC-Cha

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • 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: 9,567
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LIBERTY ON THE LAKE 2 PHASE 1
  • Land Acres: 0000000220
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 426 LIBERTY ON THE LAKE 2 PHASE 1

Neighborhood

  • School District Name: Champaign Community Unit School District 4
  • School Tax School District: 101
  • Census Tract: 001302

Geography

  • District: 03
  • Parcel: 03-20-35-308-025
  • Lot: 426
  • Meridian: SEC 35 TWN 19N RNG 08E
  • Municipality: CHAMPAIGN
  • Latitude: 40.0578
  • Longitude: -88.2745

    Address

  • Full Address: 305 Potomac Ave
  • Address - House Number: 305
  • Address - Street Name: Potomac
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Savoy
  • Carrier Code: R001
  • 4-Digit Zip Code: 8115
  • Zip Code: 61874

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $887,412
  • Tax Rate Code Area: 309

    Appraisal Valuation

  • Standard Deviation: 0.1952
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 74
  • Final Value: 459,574
  • High Value: 549,289
  • Low Value: 369,859

    Market Valuation

  • Market Total Value: $359,340
  • Market Land Value: $64,830
  • Market Improvement Value: $294,510

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $119,780
  • Assessed Land Value: $21,610
  • Assessed Improvements Value: $98,170

    Sales

  • Current Sale Contract Date: Jun 09, 2023
  • Current Sale Recording Date: Jun 20, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 8031
  • Previous Sale Recording Date: Aug 11, 2015
  • Previous Sale Contract Date: Jul 30, 2015
  • Previous Sale Amount: $335,000
  • 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 Savoy

Stats & Trends

Median Asking:

$399,000

Sale Price/ft²

$183

Below Asking

0.02%

Average Days on Market

69

Average Home Size

2114 ft²

Average Home Age

28.4 years

Currently For Sale

18 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: Rick Wilberg, eXp Realty,LLC-Cha
Last Updated: 3 years ago
Data Source: MRED, MLS# 11735549
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 305 Potomac Avenue built and last sold?
The property at 305 Potomac Avenue was built in and last sold on Jun 9, 2023 for $430,000.
How much is this home worth?
The estimated value of the home located at 305 Potomac Avenue is $0.
What are some comparable homes to 305 Potomac Avenue?
There are currently no comparable homes to 305 Potomac Avenue.
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