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Sterling 61081
407 7th Avenue
$52,000
● House - Off Market

407 7th Avenue

Sterling, IL 61081
bedrooms
2 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,064 Ft²
$58,594
RealtyHop Estimate
2.98%
Since Apr 1, 2022
National-US
Primary Model

About This Property

Roomy home looking for new owners.  Newer furnace, ac and roof.  2 bedroom home is move in ready: fresh paint and new flooring. Bright rooms and large yard.  Close to downtown.
Unit Size
1,064 Ft²
Days on Market
-
Land Size
0.13 acres
Price per sqft
$53
Property Type
House
Property Taxes
$62
HOA Dues
-
Year Built
-

Payment Calculator

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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 #11314712)

Price History

Date / Event Date Event Price
Mar 31, 2022 Sold
Premium
Sold
Jan 31, 2022 Listed by eXp Realty, LLC $56,900
Listed by eXp Realty, LLC

Property Highlights

Parking Available
Air Conditioning

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: 5,805
  • Lot Size Depth Feet: 1,350
  • Lot Size Frontage Feet: 430
  • 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: R
  • Subdivision: WEST OF BROADWAY
  • Land Acres: 0000000133
  • Standard Land Use Code: 1001
  • County Land Use Code: 40
  • Legal Description 1: WEST OF BROADWAY S 43' LOT 10 BLK 17 117100X

Neighborhood

  • School District Name: Sterling Community Unit District 5
  • Census Tract: 001200

Geography

  • Account Number: 114802
  • District: 10
  • Parcel: 1122309011
  • Block: 17
  • Lot: 10
  • Municipality: STERLING
  • Latitude: 41.7919
  • Longitude: -89.6873

    Address

  • Full Address: 407 7th Ave
  • Address - House Number: 407
  • Address - Street Name: 7th
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Sterling
  • Carrier Code: C004
  • 4-Digit Zip Code: 3718
  • Zip Code: 61081

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $196,378
  • Tax Rate Code Area: 01005

    Appraisal Valuation

  • Standard Deviation: 0.1245
  • Valuation Date: Jun 07, 2023
  • Confidence Score: 75
  • Final Value: 39,171
  • High Value: 44,050
  • Low Value: 34,291

    Market Valuation

  • Market Total Value: $55,137
  • Market Land Value: $10,374
  • Market Improvement Value: $44,763

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $18,379
  • Assessed Land Value: $3,458
  • Assessed Improvements Value: $14,921

    Sales

  • Current Sale Contract Date: Mar 31, 2022
  • Current Sale Recording Date: Apr 06, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2054
  • Previous Sale Recording Date: Jan 28, 2013
  • Previous Sale Contract Date: Nov 16, 2012
  • Previous Sale Amount: $20,000
  • Previous Sale Document Type: 68
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 Sterling

Stats & Trends

Median Asking:

$137,500

Sale Price/ft²

$109

Below Asking

0.02%

Average Days on Market

47

Average Home Size

1251 ft²

Average Home Age

90 years

Currently For Sale

34 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

Unit for rent at 509 7th Avenue, Sterling, IL, 61081

$1,100 /mo

  • 3 Beds
  • 1 Bath
  • 2,061 ft²
509 7th Avenue, Sterling, IL, 61081 Listing by Merdita Heald

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Debbie Flannery, eXp Realty, LLC
Last Updated: 3 years ago
Data Source: MRED, MLS# 11314712
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 407 7th Avenue built and last sold?
The property at 407 7th Avenue was built in and last sold on Mar 31, 2022 for $52,000.
How much is this home worth?
The estimated value of the home located at 407 7th Avenue is $61,194.
What are some comparable homes to 407 7th Avenue?
There are currently no comparable homes to 407 7th Avenue.
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