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Champaign 61822
3119 Palmer Drive
$397,500
● House - Off Market

3119 Palmer Drive

Champaign, IL 61822
bedrooms
3 Beds
bathrooms
4 Baths, 1 Half Bath
square feet
1,858 Ft²
$2,639
Est. Monthly
3.36%
Cap Rate

About This Property

This stunning 4-bedroom, 2.5-bath, 1.5-story home will capture your heart the moment you step inside. With tasteful finishes and modern updates at every turn, it's completely move-in ready. Built in 2019, the home feels brand new, featuring a functional layout with the master suite and laundry conveniently located on the main level. The finished basement, completed in 2023, is an entertainer's dream with a custom bar and a large rec room. Additional updates include new flooring throughout the main level and a fenced-in yard, both completed in 2023. Nestled on the Legends Golf Course, this property offers a prime location. Don't miss the chance to make this beautiful home yours!
Unit Size
1,858 Ft²
Days on Market
-
Land Size
-
Price per sqft
$215
Property Type
House
Property Taxes
$675
HOA Dues
-
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: 2 years ago (MRED MLS #12168105)

Price History

Date / Event Date Event Price
Nov 8, 2024 Sold
Premium
Sold
Oct 3, 2024 In contract -
In contract
Sep 26, 2024 Listed by KELLER WILLIAMS-TREC-MONT $399,900
Listed by KELLER WILLIAMS-TREC-MONT

Property Highlights

Air Conditioning

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: 4,859
  • 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: THE LEGENDS OF CHAMPAIGN PHASE 1
  • Land Acres: 0000000112
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 120B THE LEGENDS OF CHAMPAIGN PHASE 1

Neighborhood

  • School District Name: Champaign Community Unit School District 4
  • School Tax School District: 101
  • Census Tract: 001205

Geography

  • District: 04
  • Parcel: 46-20-29-426-010
  • Lot: 120B
  • Meridian: SEC 29 TWN 19N RNG 08E
  • Municipality: CITY OF CHAMPAIGN
  • Latitude: 40.0748
  • Longitude: -88.3182

    Address

  • Full Address: 3119 Palmer Dr
  • Address - House Number: 3119
  • Address - Street Name: Palmer
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Champaign
  • Carrier Code: R019
  • 4-Digit Zip Code: 1366
  • Zip Code: 61822

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $757,788
  • Initial Tax Delinquent Year: 2022
  • Tax Rate Code Area: 4602

    Appraisal Valuation

  • Standard Deviation: 0.2063
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 72
  • Final Value: 348,885
  • High Value: 420,889
  • Low Value: 276,881

    Market Valuation

  • Market Total Value: $265,110
  • Market Land Value: $36,780
  • Market Improvement Value: $228,330

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $88,370
  • Assessed Land Value: $12,260
  • Assessed Improvements Value: $76,110

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Nov 23, 2019
  • Current Sale Recording Date: Dec 12, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2019R20925
  • Previous Sale Recording Date: Jun 17, 2019
  • Previous Sale Contract Date: May 29, 2019
  • Previous Sale Amount: $252,500
  • Previous Sale Document Type: 71

    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 Champaign

Stats & Trends

Median Asking:

$245,000

Sale Price/ft²

$162

Below Asking

0.01%

Average Days on Market

52

Average Home Size

1973 ft²

Average Home Age

42.6 years

Currently For Sale

179 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: Kyle Koester, KELLER WILLIAMS-TREC-MONT
Last Updated: 2 years ago
Data Source: MRED, MLS# 12168105
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 3119 Palmer Drive built and last sold?
The property at 3119 Palmer Drive was built in and last sold on Nov 23, 2019 for $250,000.
How much is this home worth?
The estimated value of the home located at 3119 Palmer Drive is $0.
What are some comparable homes to 3119 Palmer Drive?
There are currently no comparable homes to 3119 Palmer Drive.
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