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Elgin 60124
363 Copper Springs Lane
$390,000
● House - Off Market

363 Copper Springs Lane

Elgin, IL 60124
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,350 Ft²
$2,813
Est. Monthly
$265
HOA / Fees
5.10%
Cap Rate

About This Property

Bright open floor plan! Spacious living room with hardwood floors, crown molding, recessed lighting and tons of natural light! Gourmet kitchen with stainless steel appliances, including new stove in 2021, granite countertops, custom tile backsplash, island with pendant lighting, pantry closet and separate eating area! Separate formal dining room!  Stunning master suite with vaulted ceilings, ceiling fan, large walk-in closet and private bath with double sinks, whirlpool tub and walk-in glass shower! Gracious size secondary bedrooms with vaulted ceilings! Loft can easily be converted into a 4th bedroom! Partial basement awaits your finishing touches! New washer/dryer 2022!  Recently updated bathrooms! New roof 2023! Pelican whole house water filtration system! Beautiful patio and landscaping!
Unit Size
2,350 Ft²
Days on Market
-
Land Size
-
Price per sqft
$170
Property Type
House
Property Taxes
$584
HOA Dues
$265
Year Built
2005

Payment Calculator

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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

Building Info

Overview

    General

  • Year Built: 2005
  • Effective Year Built: 2005
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 770
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,227
  • Lot Size Frontage Feet: 450
  • Total Building Area: 3,120
  • Gross Building Area: 3,120
  • Building Area: 2,350
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 0
  • Heated Square Feet: 2,350
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: COPPER SPRINGS
  • Land Acres: 0000000120
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: COPPER SPRINGS LOT 224

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 851913

Geography

  • Parcel: 06-19-328-007
  • Lot: 224
  • Municipality: ELGIN
  • Latitude: 42.0203
  • Longitude: -88.3713

    Address

  • Full Address: 363 Copper Springs Ln
  • Address - House Number: 363
  • Address - Street Name: Copper Springs
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Elgin
  • Carrier Code: R024
  • 4-Digit Zip Code: 4341
  • Zip Code: 60124

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $661,520
  • Tax Rate Code Area: EL064

    Appraisal Valuation

  • Standard Deviation: 0.1551
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 80
  • Final Value: 371,313
  • High Value: 428,915
  • Low Value: 313,711

    Market Valuation

  • Market Total Value: $246,969
  • Market Land Value: $69,808
  • Market Improvement Value: $177,161

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $82,290
  • Assessed Land Value: $23,260
  • Assessed Improvements Value: $59,030

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Mar 26, 2020
  • Current Sale Recording Date: Apr 07, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2020K017206
  • Previous Sale Recording Date: Dec 11, 2012
  • Previous Sale Contract Date: Oct 29, 2012
  • Previous Sale Amount: $165,000
  • Previous Sale Document Type: 68

    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 Elgin

Stats & Trends

Median Asking:

$360,000

Sale Price/ft²

$206

Below Asking

0.01%

Average Days on Market

45

Average Home Size

2100 ft²

Average Home Age

34 years

Currently For Sale

161 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 3839 Honeysuckle Lane, Elgin, IL, 60124

$2,850 /mo

  • 3 Beds
  • 2 Baths
  • 1,756 ft²
3839 Honeysuckle Lane, Elgin, IL, 60124 Listing by Lori Cromie
Unit for rent at 1137 Reserve Drive, Elgin, IL, 60124

$2,400 /mo

  • 2 Beds
  • 1 Bath
  • 1,500 ft²
1137 Reserve Drive, Elgin, IL, 60124 Listing by Brandy Schuldt

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Robert Wisdom, RE/MAX Horizon
Data Source: MRED, MLS# MRD12197162
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 363 Copper Springs Lane built and last sold?
The property at 363 Copper Springs Lane was built in 2005 and last sold on Mar 26, 2020 for $256,000.
How much is this home worth?
The estimated value of the home located at 363 Copper Springs Lane is $408,727.
What are some comparable homes to 363 Copper Springs Lane?
There are currently no comparable homes to 363 Copper Springs Lane.
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