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Joliet 60436 Reedwood
405 Park Drive
$171,000
● House - Off Market

405 Park Drive

Joliet, IL 60436
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,302 Ft²
$165,277
RealtyHop Estimate
0.17%
Since Jul 1, 2023
National-US
Primary Model

About This Property

**multiple offer- highest and best due Sunday 4/16 by 9pm**  Cute Cape Cod style home with lots of potential! Home boasts 2 main floor bedrooms and an upstairs space that could be used as a third bedroom or rec room. Hardwood floors that could be refinished to their glory in the main living space and bedrooms. Great potential with the covered patio in the back of the home...could be a great entertaining space! There is space for a garage to be added in the back of the property off alley as well. This property needs some TLC, but could be a perfect place to call home!
Unit Size
1,302 Ft²
Days on Market
-
Land Size
-
Price per sqft
$127
Property Type
House
Property Taxes
$227
HOA Dues
-
Year Built
1949

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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 #11757748)

Price History

Date / Event Date Event Price
Jun 7, 2023 Sold
Premium
Sold
Apr 11, 2023 Listed by Karges Realty $165,000
Listed by Karges Realty

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1949
  • Effective Year Built: 1949
  • 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 Count: 150
  • 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: 5,324
  • Total Building Area: 1,302
  • Building Area: 1,302
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,302
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: WEST PARK ADDN
  • Land Acres: 0000000120
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: LOT 195 IN WEST PARK ADDN, BEING A SUB OF PRT OF THE W1/2 OF THE NE1/4 SEC 17, T35N-10E.

Neighborhood

  • School District Name: Joliet Public School District 86
  • Census Tract: 882601

Geography

  • Parcel: 30-07-17-401-016
  • Lot: 195
  • Meridian: SEC 17 TWN 35N RNG 10E
  • Municipality: JOLIET
  • Latitude: 41.5151
  • Longitude: -88.1079

    Address

  • Full Address: 405 Park Dr
  • Address - House Number: 405
  • Address - Street Name: Park
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Joliet
  • Carrier Code: C085
  • 4-Digit Zip Code: 2046
  • Zip Code: 60436

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $395,854
  • Tax Rate Code Area: 3011

    Appraisal Valuation

  • Standard Deviation: 0.1758
  • Valuation Date: Aug 09, 2023
  • Confidence Score: 77
  • Final Value: 177,226
  • High Value: 208,389
  • Low Value: 146,063

    Market Valuation

  • Market Total Value: $128,592
  • Market Land Value: $27,174
  • Market Improvement Value: $101,418

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $42,864
  • Assessed Land Value: $9,058
  • Assessed Improvements Value: $33,806

    Sales

  • Current Sale Contract Date: May 30, 2023
  • Current Sale Recording Date: Jun 12, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 28780
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 Reedwood

Stats & Trends

Median Asking:

$250,000

Sale Price/ft²

$201

Below Asking

0.01%

Average Days on Market

41

Average Home Size

1637 ft²

Average Home Age

74.8 years

Currently For Sale

5 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: Maggie Karges Watson, Karges Realty
Last Updated: 3 years ago
Data Source: MRED, MLS# 11757748
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 Park Drive built and last sold?
The property at 405 Park Drive was built in 1949 and last sold on May 30, 2023 for $171,500.
How much is this home worth?
The estimated value of the home located at 405 Park Drive is $0.
What are some comparable homes to 405 Park Drive?
There are currently no comparable homes to 405 Park Drive.
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