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Bloomington 61704 Old Farm Lakes
3504 Teal Drive
$310,000
● House - Off Market

3504 Teal Drive

Bloomington, IL 61704
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,648 Ft²
$2,047
Est. Monthly
$19
HOA / Fees
9.34%
Cap Rate

About This Property

What a great 4 bedroom 3.5 bath home in Old Farm Lakes. Conveniently located on the East Side with a park and 2 lakes in this subdivision.  Open floor plan with plenty of updates including granite counter tops in kitchen with center island and large pantry that can also be converted back to first floor utility.  Large master bedroom with dual vanity in master bath.  Family room opens to kitchen highlighted by the gas fireplace.  Finished basement with an office and large family room.  Updates include HVAC 2023, water heater 2015, newer granite counters, stainless appliances, hardwood in main floor family room, some newer carpet and back windows with sliding door replaced 2021.
Unit Size
2,648 Ft²
Days on Market
-
Land Size
-
Price per sqft
$117
Property Type
House
Property Taxes
$505
HOA Dues
$19
Year Built
1993

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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: 1993
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 4
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 3
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 200
  • Floor Cover: 9
  • Basement Type: 5
  • Basement Area: 280
  • Garage Type: 1
  • Garage Square Area: 400
  • Parking Space Count: 2
  • Patio Type: 79
  • Porch Type: 106
  • Pool Type: 0
  • Location Influence Type: 118

    Dimensions

  • Lot Size Square Feet: 8,712
  • Lot Size Depth Feet: 800
  • Lot Size Frontage Feet: 1,070
  • Total Building Area: 2,758
  • Gross Building Area: 2,758
  • Building Area: 2,078
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 2,078
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: OLD FARM LAKES
  • Land Acres: 0000000200
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 276 OLD FARM LAKES NO 7

Neighborhood

  • School District Name: Bloomington School District 87
  • School Tax School District: 087
  • Census Tract: 001107

Zoning

  • Zoning: R2

Geography

  • District: 40
  • Parcel: 21-12-226-005
  • Lot: 276
  • Meridian: SEC 12 TWN 23N RNG 02E
  • Municipality: CITY OF BLOOMINGTON
  • Latitude: 40.4726
  • Longitude: -88.9284

    Address

  • Full Address: 3504 Teal Dr
  • Address - House Number: 3504
  • Address - Street Name: Teal
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Bloomington
  • Carrier Code: R019
  • 4-Digit Zip Code: 1280
  • Zip Code: 61704

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $504,000
  • Tax Rate Code Area: 4001

    Appraisal Valuation

  • Standard Deviation: 0.2079
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 71
  • Final Value: 265,787
  • High Value: 321,071
  • Low Value: 210,504

    Market Valuation

  • Market Total Value: $195,906
  • Market Land Value: $44,025
  • Market Improvement Value: $151,881

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $65,302
  • Assessed Land Value: $14,675
  • Assessed Improvements Value: $50,627

    Sales

  • Current Sale Contract Date: May 30, 2013
  • Current Sale Recording Date: Jun 10, 2013
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2013-00014578
  • Previous Sale Recording Date: Oct 02, 2012
  • Previous Sale Contract Date: Sep 17, 2012
  • Previous Sale Amount: $180,000
  • 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 Old Farm Lakes

Stats & Trends

Median Asking:

$329,900

Sale Price/ft²

$107

Above Asking

0.00%

Average Days on Market

39

Average Home Size

2998 ft²

Average Home Age

30.8 years

Currently For Sale

0 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 3125 Old Jamestown Road, Bloomington, IL, 61704

$2,850 /mo

  • 4 Beds
  • 2 Baths
  • 3,196 ft²
3125 Old Jamestown Road, Bloomington, IL, 61704 Listing by Reshma Shah

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Janet Jurich, RE/MAX Rising
Data Source: MRED, MLS# MRD12364916
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 3504 Teal Drive built and last sold?
The property at 3504 Teal Drive was built in 1993 and last sold on May 30, 2013 for $181,500.
How much is this home worth?
The estimated value of the home located at 3504 Teal Drive is $0.
What are some comparable homes to 3504 Teal Drive?
There are currently no comparable homes to 3504 Teal Drive.
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