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Elgin 60124
37W142 HOPPS Road
$700,000
● House - Off Market

37W142 HOPPS Road

Elgin, IL 60124
bedrooms
Studio
bathrooms
0 Bath
$751,257
RealtyHop Estimate
0.17%
Since Jul 1, 2023
National-US
Primary Model

About This Property

15 ACRE PARCEL WITH STUB ROAD FROM THE RESERVES TOWNHOME SUBDIVISION FROM THE NORTH AND HOPPS ROAD FRONTAGE ON THE SOUTH.  CITY UTILITIES ARE AVAILABLE AT THE NORTH.  CURRENTLY IN ELGIN'S COMPREHENSIVE PLAN AS SINGLE FAMILY, BUT THIS IS LOCATED IN A MIXED USE AREA.  THERE IS A CHURCH PROPERTY IMMEDIATELY TO THE EAST, COMMERCIAL PROPERTY ON THE CORNER, TOWNHOMES TO THE NORTH AND A SCHOOL ACROSS THE STREET.  TWO HOUSES ARE INCLUDED ON THE PROPERTY BUT VALUE IS IN THE LAND.
Unit Size
-
Days on Market
-
Land Size
15.00 acres
Price per sqft
-
Property Type
House
Property Taxes
$415
HOA Dues
-
Year Built
1925

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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 #10429519)

Price History

Date / Event Date Event Price
Jun 15, 2023 Sold
Premium
Sold
Jun 24, 2019 Listed by RE/MAX Horizon $750,000
Listed by RE/MAX Horizon

Property Highlights

Building Info

Overview

    General

  • Year Built: 1925
  • Effective Year Built: 1925
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • 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: 100
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 853
  • Garage Type: 1
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 326,700
  • Total Building Area: 1,706
  • Gross Building Area: 1,706
  • Building Area: 853
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 853
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000007500
  • Standard Land Use Code: 1000
  • County Land Use Code: 0011
  • State Land Use Code: 0011
  • Legal Description 1: NONE

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 851912

Geography

  • Parcel: 06-32-200-022
  • Municipality: ELGIN
  • Latitude: 41.9962
  • Longitude: -88.3436

    Address

  • Full Address: 37w142 Hopps Rd
  • Address - House Number: 37w142
  • Address - Street Name: Hopps
  • Address - Suffix Type: Rd
  • State: IL
  • City Name: Elgin
  • Carrier Code: R008
  • 4-Digit Zip Code: 8525
  • Zip Code: 60124

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $597,272
  • Tax Rate Code Area: EL006

    Appraisal Valuation

  • Standard Deviation: 0.109
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 89
  • Final Value: 310,206
  • High Value: 344,039
  • Low Value: 276,374

    Market Valuation

  • Market Total Value: $224,652
  • Market Land Value: $92,233
  • Market Improvement Value: $132,419

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $74,854
  • Assessed Land Value: $30,732
  • Assessed Improvements Value: $44,122

    Sales

  • Current Sale Contract Date: Jun 09, 2023
  • Current Sale Recording Date: Jun 16, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 19965
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:

$359,900

Sale Price/ft²

$206

Below Asking

0.01%

Average Days on Market

44

Average Home Size

2165 ft²

Average Home Age

36.2 years

Currently For Sale

151 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: Ben Henrikson, RE/MAX Horizon
Last Updated: 3 years ago
Data Source: MRED, MLS# 10429519
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 37W142 Hopps Road built and last sold?
The property at 37W142 Hopps Road was built in 1925 and last sold on Jun 9, 2023 for $700,000.
How much is this home worth?
The estimated value of the home located at 37W142 Hopps Road is $0.
What are some comparable homes to 37W142 Hopps Road?
There are currently no comparable homes to 37W142 Hopps Road.
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