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Morris 60450
405 Mckinley Street
$245,000
● House - Off Market

405 Mckinley Street

Morris, IL 60450
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,600 Ft²
$1,657
Est. Monthly
9.56%
Cap Rate

About This Property

Enjoy ranch style living in this 3 bedroom 2 full bath home. Only minutes from downtown Morris shopping, restaurants, library and more. All flooring recently refinished (original hardwood floors) or replaced. All appliances remain, including washer and dryer. Ready for occupancy. Enjoy nice weather days on the front screened in porch or the fenced back yard and patio. Many upgrades including new central air, new patio roof, lots of fresh paint. new refrigerator, freezer. New bathroom vanities, shower and flooring.  2 1/2 car detached garage with alley access and electric. New garage door and opener. This home is NOT located in a flood plain.
Unit Size
1,600 Ft²
Days on Market
-
Land Size
-
Price per sqft
$156
Property Type
House
Property Taxes
$429
HOA Dues
-
Year Built
1954

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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: 1954
  • Effective Year Built: 1954
  • Total Rooms: 7
  • Bedroom Count: 3
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,098
  • Lot Size Depth Feet: 1,250
  • Lot Size Frontage Feet: 500
  • Total Building Area: 1,255
  • Gross Building Area: 1,255
  • Building Area: 1,255
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 1,255
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CUNNEAS SUBDIVISION
  • Land Acres: 0000000140
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: CUNNEAS SUB MORRIS LT 56 SEC 3-33-7

Neighborhood

  • School District Name: Morris School District 54
  • Census Tract: 000300

Geography

  • District: 12
  • Parcel: 05-03-107-006
  • Lot: 56
  • Meridian: SEC 03 TWN 33N RNG 07W
  • Municipality: MORRIS TOWNSHIP
  • Latitude: 41.3696
  • Longitude: -88.4206

    Address

  • Full Address: 405 Mckinley St
  • Address - House Number: 405
  • Address - Street Name: Mckinley
  • Address - Suffix Type: St
  • State: IL
  • City Name: Morris
  • Carrier Code: C003
  • 4-Digit Zip Code: 1425
  • Zip Code: 60450

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $447,250
  • Tax Rate Code Area: 12001

    Appraisal Valuation

  • Standard Deviation: 0.2161
  • Valuation Date: Aug 09, 2023
  • Confidence Score: 70
  • Final Value: 194,841
  • High Value: 236,951
  • Low Value: 152,731

    Market Valuation

  • Market Total Value: $171,441
  • Market Land Value: $25,866
  • Market Improvement Value: $145,575

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $57,147
  • Assessed Land Value: $8,622
  • Assessed Improvements Value: $48,525

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Feb 14, 2022
  • Current Sale Recording Date: Feb 16, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 611312
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 Morris

Stats & Trends

Median Asking:

$309,000

Sale Price/ft²

$175

Below Asking

0.02%

Average Days on Market

44

Average Home Size

1931 ft²

Average Home Age

60.3 years

Currently For Sale

17 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

Rentals Near You

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MRED

Listed by: Vicki Geiger, RE/MAX Top Properties
Data Source: MRED, MLS# MRD12462165
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 405 McKinley Street built and last sold?
The property at 405 McKinley Street was built in 1954 and last sold on Feb 14, 2022 for $144,000.
How much is this home worth?
The estimated value of the home located at 405 McKinley Street is $0.
What are some comparable homes to 405 McKinley Street?
There are currently no comparable homes to 405 McKinley Street.
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