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Franklin Park 60131 Franklin Park
3131 Elder Lane
$339,000
● House - Off Market

3131 Elder Lane

Franklin Park, IL 60131
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,294 Ft²
$357,253
RealtyHop Estimate
4.00%
Since Oct 1, 2022
National-US
Primary Model

About This Property

Beautiful Brick Ranch Family Home, 3 Bedroom, 2 Bathroom, Kitchen with detached 2.5 Car Garage with driveway for plenty of parking. This well maintained home has been in one family for decades. Newly updated Kitchen with stainless steel appliances. Plenty of closets. Beaming Hardwood floors. Full basement OPEN CONCEPT finished for entertainment with a large wet bar. Right in the heart of Franklin Park, close to shopping, restaurants, library, schools, parks and close to Metra Train Station. Low property taxes. A REAL GEM! MOVE IN READY!
Unit Size
2,294 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$150
Property Type
House
Property Taxes
$415
HOA Dues
-
Year Built
1955

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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 #11489546)

Price History

Date / Event Date Event Price
Sep 21, 2022 Sold
Premium
Sold
Aug 11, 2022 Listed by ByOwner.com $343,500
Listed by ByOwner.com

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1955
  • Effective Year Built: 1955
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 12
  • Building Style: 3
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,200
  • Lot Size Depth Feet: 1,240
  • Lot Size Frontage Feet: 500
  • Total Building Area: 1,147
  • Gross Building Area: 1,147
  • Building Area: 1,147
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 1,147
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: THIRD ADD TO FRANKLIN PARK
  • Land Acres: 0000000142
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-03
  • Legal Description 1: (THIRD) ADD TO (FRANKLIN)(PARK) SUB SW SEC21 EX MANNH EIM & W10ACS OF PT SW LYING N RW C M & STP RR & E MANNHEIM & EX RW DEPO

Neighborhood

  • School District Name: Franklin Park School District 84
  • Census Tract: 811401

Geography

  • District: 20
  • Parcel: 12-28-202-071-0000
  • Block: 21
  • Lot: 39,40
  • Meridian: SEC 21 TWN 40N RNG 12E
  • Municipality: LEYDEN
  • Latitude: 41.936
  • Longitude: -87.8724

    Address

  • Full Address: 3131 Elder Ln
  • Address - House Number: 3131
  • Address - Street Name: Elder
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Franklin Park
  • Carrier Code: C010
  • 4-Digit Zip Code: 2512
  • Zip Code: 60131

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $810,616
  • Tax Rate Code Area: 20026

    Appraisal Valuation

  • Standard Deviation: 0.2052
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 72
  • Final Value: 364,548
  • High Value: 439,383
  • Low Value: 289,713

    Market Valuation

  • Market Total Value: $290,000
  • Market Land Value: $55,800
  • Market Improvement Value: $234,200

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $29,000
  • Assessed Land Value: $5,580
  • Assessed Improvements Value: $23,420

    Sales

  • Current Sale Contract Date: Sep 09, 2022
  • Current Sale Recording Date: Sep 22, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 33087
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 Franklin Park

Stats & Trends

Median Asking:

$349,900

Sale Price/ft²

$262

Below Asking

0.01%

Average Days on Market

43

Average Home Size

1556 ft²

Average Home Age

68.3 years

Currently For Sale

20 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 4326 Wesley Terrace, Schiller Park, IL, 60176

$2,850 /mo

  • 5 Beds
  • 2 Baths
  • 1,000 ft²
4326 Wesley Terrace, Schiller Park, IL, 60176 Listing by Emilio Bartucci
Unit for rent at 8632 W Ainslie Street, Norridge, IL, 60706

$2,800 /mo

  • 3 Beds
  • 1 Bath
  • 1,166 ft²
8632 W Ainslie Street, Norridge, IL, 60706 Listing by Lucyna Duda

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Kirk Bennett, ByOwner.com
Last Updated: 3 years ago
Data Source: MRED, MLS# 11489546
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 3131 Elder Lane built and last sold?
The property at 3131 Elder Lane was built in 1955 and last sold on Sep 9, 2022 for $339,000.
How much is this home worth?
The estimated value of the home located at 3131 Elder Lane is $0.
What are some comparable homes to 3131 Elder Lane?
There are currently no comparable homes to 3131 Elder Lane.
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