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Elgin 60120 Southeast Elgin
377 May Street
$27,000
● Land - Off Market

377 May Street

Elgin, IL 60120
bedrooms
Studio
bathrooms
0 Bath
$39,284
RealtyHop Estimate
31.38%
Since Jan 1, 2021
National-US
Primary Model

About This Property

Vacant Lot Corner of Grace and May Street a .17 parcel of land land in east side Elgin zoned RC3 in the Historic district. Build a one or two-story home w/ garage.
Unit Size
-
Days on Market
-
Land Size
0.16 acres
Price per sqft
-
Property Type
Land
Property Taxes
$68
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: 3 years ago (MRED MLS #10692938)

Price History

Date / Event Date Event Price
Dec 30, 2020 Sold
Premium
Sold
Apr 18, 2020 Listed by Baird & Warner Fox Valley - Geneva $29,900
Listed by Baird & Warner Fox Valley - Geneva

Property Highlights

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: 6,942
  • Lot Size Depth Feet: 890
  • Lot Size Frontage Feet: 780
  • 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: V
  • Subdivision: P VAN NOSTRANDS ADD
  • Land Acres: 0000000159
  • Standard Land Use Code: 8000
  • County Land Use Code: 0030
  • State Land Use Code: 0030
  • Legal Description 1: P VAN NOSTRANDS ADD TO ELGIN PT LOT 1 IN BLK 2 DESC IN SURVEY - (EAST PARCEL)

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 851400

Geography

  • Parcel: 06-24-255-032
  • Block: 2
  • Lot: 1
  • Municipality: ELGIN
  • Latitude: 42.0243
  • Longitude: -88.271

    Address

  • Full Address: 377 May St
  • Address - House Number: 377
  • Address - Street Name: May
  • Address - Suffix Type: St
  • State: IL
  • City Name: Elgin
  • Carrier Code: C019
  • 4-Digit Zip Code: 7838
  • Zip Code: 60120

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $89,712
  • Tax Rate Code Area: EL005

    Market Valuation

  • Market Total Value: $31,050
  • Market Land Value: $31,050

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $10,346
  • Assessed Land Value: $10,346

    Sales

  • Current Sale Contract Date: Dec 24, 2020
  • Current Sale Recording Date: Jan 22, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2021K005892
  • Previous Sale Recording Date: Jan 11, 2008
  • Previous Sale Contract Date: Dec 06, 2007
  • Previous Sale Amount: $30,000
  • 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 Southeast Elgin

Stats & Trends

Median Asking:

$310,000

Sale Price/ft²

$212

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1487 ft²

Average Home Age

49.4 years

Currently For Sale

26 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: Kimberly Osko, Baird & Warner Fox Valley - Geneva
Last Updated: 3 years ago
Data Source: MRED, MLS# 10692938
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 377 May Street built and last sold?
The property at 377 May Street was built in and last sold on Dec 24, 2020 for $27,000.
How much is this home worth?
The estimated value of the home located at 377 May Street is $0.
What are some comparable homes to 377 May Street?
There are currently no comparable homes to 377 May Street.
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