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Third Lake 60030 Mariner's Cove
405 Seafarer Drive
$400,000
● House - Off Market

405 Seafarer Drive

Third Lake, IL 60030
bedrooms
3 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,258 Ft²
$422,120
RealtyHop Estimate
5.53%
Since Dec 1, 2022
National-US
Primary Model

About This Property

Enjoy waterfront living on private Druce Lake! Swimming, fishing, kayaking, paddle boarding! Desirable Mariner's Cove awaits you...up north feel while still close to the downtown Grayslake shopping, restaurant and social scene. Outdoor enthusiasts can also partake in 1250 acres of trails in nearby Rollins Savanna Forest Preserve. This home features gorgeous knotty pine hardwood floors and trim throughout the main level. Large family room is open to the kitchen with fantastic views of the water. 3 bedrooms + a bonus room on the 2nd level with brand new carpet. Finished basement offers additional entertaining space. Mariners Cove allows access to Druce Lake & Third Lake. Druce Lake is non-motorized. Use your jet ski and power boats on adjoining Third Lake.
Unit Size
2,258 Ft²
Days on Market
-
Land Size
0.30 acres
Price per sqft
$177
Property Type
House
Property Taxes
$872
HOA Dues
$13
Year Built
1986

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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.

Last updated: 3 years ago (MRED MLS #11645929)

Price History

Date / Event Date Event Price
Nov 9, 2022 Sold
Premium
Sold
Aug 15, 2022 Listed by @properties Christie's International Real Estate $400,000
Listed by @properties Christie's International Real Estate

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1986
  • Effective Year Built: 1986
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Bathroom Plumbing Fixtures: 8
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 15
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 3
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,050
  • Garage Type: 1
  • Garage Square Area: 525
  • Parking Space Count: 2
  • Patio Type: 3
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 13,055
  • Total Building Area: 3,833
  • Gross Building Area: 3,833
  • Building Area: 2,258
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 2,258
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LEE FRYS MARINERS COVE UNIT 1
  • Land Acres: 0000000300
  • Standard Land Use Code: 1001
  • County Land Use Code: 40
  • Legal Description 1: LEE FRYS MARINERS COVE UNIT 1; LOT 43

Neighborhood

  • School District Name: Grayslake Consolidated Community School District 46
  • Census Tract: 861106

Geography

  • Assessors Map Reference: 2533-D1
  • District: WARREN
  • Parcel: 07-19-107-001
  • Lot: 43
  • Municipality: TWP OF WARREN
  • Latitude: 42.3642
  • Longitude: -88.0041

    Address

  • Full Address: 405 Seafarer Dr
  • Legal Unit: 1
  • Address - House Number: 405
  • Address - Street Name: Seafarer
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Third Lake
  • Carrier Code: C008
  • 4-Digit Zip Code: 2610
  • Zip Code: 60030

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,115,294
  • Initial Tax Delinquent Year: 2021
  • Tax Rate Code Area: 8067

    Appraisal Valuation

  • Standard Deviation: 0.1597
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 80
  • Final Value: 416,114
  • High Value: 482,589
  • Low Value: 349,640

    Market Valuation

  • Market Total Value: $365,214
  • Market Land Value: $62,055
  • Market Improvement Value: $303,159

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $121,726
  • Assessed Land Value: $20,683
  • Assessed Improvements Value: $101,043

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Oct 31, 2022
  • Current Sale Recording Date: Dec 20, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 7950500
  • Previous Sale Recording Date: Apr 29, 1996
  • Previous Sale Contract Date: Apr 22, 1996
  • Previous Sale Amount: $240,000
  • 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 Mariner's Cove

Stats & Trends

Median Asking:

$438,000

Sale Price/ft²

$229

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1934 ft²

Average Home Age

39 years

Currently For Sale

2 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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$2,500 /mo

  • 2 Beds
  • 2 Baths
  • 1,430 ft²
17791 W Salisbury Drive, Gurnee, IL, 60031 Listing by Thomas Hood
Unit for rent at 34904 N Carvis Drive, Lake Villa, IL, 60046

$2,500 /mo

  • 3 Beds
  • 1 Bath
  • 1,133 ft²
34904 N Carvis Drive, Lake Villa, IL, 60046 Listing by Kasim Alnafoosi
Unit for rent at 1059 Ellsworth Drive, Grayslake, IL, 60030

$2,600 /mo

  • 2 Beds
  • 2 Baths
  • 1,494 ft²
1059 Ellsworth Drive, Grayslake, IL, 60030 Listing by Vijay Ghuge

Rentals Near You

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MRED

Listed by: Dawn Sullivan, @properties Christie's International Real Estate
Last Updated: 3 years ago
Data Source: MRED, MLS# 11645929
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 Seafarer Drive built and last sold?
The property at 405 Seafarer Drive was built in 1986 and last sold on Oct 31, 2022 for $400,000.
How much is this home worth?
The estimated value of the home located at 405 Seafarer Drive is $0.
What are some comparable homes to 405 Seafarer Drive?
There are currently no comparable homes to 405 Seafarer Drive.
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