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Crete 60417
3498 Fairway Drive
$316,000
● House - Off Market

3498 Fairway Drive

Crete, IL 60417
bedrooms
3 Beds
bathrooms
3 Baths
square feet
2,161 Ft²
$1,934
Est. Monthly
5.95%
Cap Rate

About This Property

Great opportunity to own a completely remodeled house in a great location. 3 BR, 3 BA house on quiet cul-de-sac style street. Cathedral ceiling in living/dining/kitchen areas. Newly refinished fireplace in family room. House has been newly painted, all new floors, new light fixtures, electric switches, and door trims. New kitchen with all new stainless steel appliances. 3 completely remodeled bathrooms with new floors, ceramic tiled showers, and stylish vanities. Part of the family room could be easily converted to a 4th bedroom if desired. Newly framed- in basement with new closet and enclosed   laundry/utility room. New living room picture window. New sliding door to back yard. New insulation in attic. 2-car attached garage.  House backs to forest preserve. Expect occasional deer sightings.
Unit Size
2,161 Ft²
Days on Market
-
Land Size
-
Price per sqft
$147
Property Type
House
Property Taxes
$378
HOA Dues
-
Year Built
1992

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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 #11950453)

Price History

Date / Event Date Event Price
Apr 15, 2024 Sold
Premium
Sold
Dec 21, 2023 Listed by DNV Solutions LLC $316,900
Listed by DNV Solutions LLC

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1992
  • Effective Year Built: 1992
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 41
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 716
  • Garage Type: 1
  • Garage Square Area: 451
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,514
  • Total Building Area: 3,328
  • Building Area: 2,161
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 2,161
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FIRST FAIRWAY ADDITION TO LINCOLNSHIRE
  • Land Acres: 0000000220
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 35 IN FIRST FAIRWAY ADDN TO LINCOLNSHIRE, BEING A SUB OF PRT OF THE E1/2 OF THE NE1/4 OF SEC 4, T34N-R14E.

Neighborhood

  • School District Name: Steger School District 194
  • Census Tract: 883810

Geography

  • Parcel: 23-15-04-219-002
  • Lot: 35
  • Meridian: SEC 04 TWN 34N RNG 14E
  • Municipality: CRETE
  • Latitude: 41.4665
  • Longitude: -87.6182

    Address

  • Full Address: 3498 Fairway Dr
  • Address - House Number: 3498
  • Address - Street Name: Fairway
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Crete
  • Carrier Code: R002
  • 4-Digit Zip Code: 1000
  • Zip Code: 60417

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $438,232
  • Initial Tax Delinquent Year: 2022
  • Tax Rate Code Area: 2324

    Appraisal Valuation

  • Standard Deviation: 0.0867
  • Valuation Date: Dec 20, 2023
  • Confidence Score: 92
  • Final Value: 249,193
  • High Value: 270,817
  • Low Value: 227,569

    Market Valuation

  • Market Total Value: $192,534
  • Market Land Value: $26,547
  • Market Improvement Value: $165,987

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $64,178
  • Assessed Land Value: $8,849
  • Assessed Improvements Value: $55,329

    Exemptions

  • Senior Citizen Exemption : Yes
  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Apr 19, 2023
  • Current Sale Recording Date: Apr 20, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 18670
  • Previous Sale Recording Date: Jul 01, 1992
  • Previous Sale Contract Date: Jul 01, 1992
  • Previous Sale Amount: $140,000
  • Previous Sale Document Type: 27
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 Crete

Stats & Trends

Median Asking:

$295,000

Sale Price/ft²

$140

Below Asking

0.02%

Average Days on Market

53

Average Home Size

2535 ft²

Average Home Age

53.2 years

Currently For Sale

36 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: Michael Tassone, DNV Solutions LLC
Last Updated: 3 years ago
Data Source: MRED, MLS# 11950453
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 3498 Fairway Drive built and last sold?
The property at 3498 Fairway Drive was built in 1992 and last sold on Apr 19, 2023 for $190,000.
How much is this home worth?
The estimated value of the home located at 3498 Fairway Drive is $321,309.
What are some comparable homes to 3498 Fairway Drive?
There are currently no comparable homes to 3498 Fairway Drive.
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