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Elgin 60120 Southeast Elgin
416 Park Street
$230,000
● House - Off Market

416 Park Street

Elgin, IL 60120
bedrooms
4 Beds
bathrooms
1 Bath
square feet
1,614 Ft²
$224,386
RealtyHop Estimate
-0.27%
Since Aug 1, 2023
National-US
Primary Model

About This Property

Stately Victorian beauty in Elgin's Historic Landmark District. You can be only the 4th owner of this home, built in 1883. Four bedrooms, one on the main floor, 3 up, plus a secret closet door that leads to attic playroom that will captivate your heart. Incredible 1/3 acre lot, hand drawn map from decades ago shows the location of mature plantings...and bygone vegetable gardens. Let your imagination run wild! Two car garage, concrete side drive, the space to live your dream. Newer water heater (2021) HVAC, (2018). Some charm, some quirkiness...just what you'd expect in a unique home of this era. Vintage tub likely needs refinishing...not unexpected for her age. Secret laundry chute. Stone basement, exit to yard. A romantic dream come true!
Unit Size
1,614 Ft²
Days on Market
-
Land Size
-
Price per sqft
$139
Property Type
House
Property Taxes
$436
HOA Dues
-
Year Built
1890

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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 #11772308)

Price History

Date / Event Date Event Price
Jul 12, 2023 Sold
Premium
Sold
May 1, 2023 Listed by Baird & Warner $225,000
Listed by Baird & Warner

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1890
  • Effective Year Built: 1890
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • 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: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 965
  • Garage Type: 4
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 14,224
  • Lot Size Depth Feet: 2,160
  • Lot Size Frontage Feet: 660
  • Total Building Area: 2,579
  • Gross Building Area: 2,579
  • Building Area: 1,614
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 0
  • Heated Square Feet: 1,614
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: L F BRAYMANS SUB
  • Land Acres: 0000000327
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: L F BRAYMANS SUB LOT 5

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 851301

Geography

  • Parcel: 06-13-133-018
  • Lot: 5
  • Municipality: ELGIN
  • Latitude: 42.041
  • Longitude: -88.275

    Address

  • Full Address: 416 Park St
  • Address - House Number: 416
  • Address - Street Name: Park
  • Address - Suffix Type: St
  • State: IL
  • City Name: Elgin
  • Carrier Code: C035
  • 4-Digit Zip Code: 4423
  • Zip Code: 60120

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $547,114
  • Tax Rate Code Area: EL701

    Appraisal Valuation

  • Standard Deviation: 0.2294
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 68
  • Final Value: 255,959
  • High Value: 314,682
  • Low Value: 197,235

    Market Valuation

  • Market Total Value: $207,371
  • Market Land Value: $44,958
  • Market Improvement Value: $162,413

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $69,096
  • Assessed Land Value: $14,980
  • Assessed Improvements Value: $54,116

    Sales

  • Current Sale Contract Date: Jun 20, 2023
  • Current Sale Recording Date: Jul 12, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 23283
  • Previous Sale Recording Date: Sep 18, 2001
  • Previous Sale Contract Date: Sep 14, 2001
  • Previous Sale Amount: $153,000
  • 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 Southeast Elgin

Stats & Trends

Median Asking:

$310,000

Sale Price/ft²

$212

Below Asking

0.01%

Average Days on Market

45

Average Home Size

1476 ft²

Average Home Age

49.5 years

Currently For Sale

24 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 1154 Megan Court, Elgin, IL, 60120

$3,400 /mo

  • 4 Beds
  • 3 Baths
  • 2,600 ft²
1154 Megan Court, Elgin, IL, 60120 Listing by Cameel Halim

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Susan Bragg, Baird & Warner
Last Updated: 3 years ago
Data Source: MRED, MLS# 11772308
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 416 Park Street built and last sold?
The property at 416 Park Street was built in 1890 and last sold on Jun 20, 2023 for $230,000.
How much is this home worth?
The estimated value of the home located at 416 Park Street is $230,910.
What are some comparable homes to 416 Park Street?
There are currently no comparable homes to 416 Park Street.
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