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Ottawa 61350
424 3rd Avenue
$133,000
● House - Off Market

424 3rd Avenue

Ottawa, IL 61350
bedrooms
2 Beds
bathrooms
1 Bath
square feet
1,032 Ft²
$858
Est. Monthly
17.83%
Cap Rate

About This Property

This cute 2 bedroom home is nestled on the south side of Ottawa and is move in ready. Has an Eat-in kitchen includes refrigerator and gas oven/range. Separate dining room and main floor full bathroom with an Enclosed front porch. Bedrooms are tandem in the upstairs area with a door that separates the two of them. New Windows throughout 2024. Beautifully landscaped private back yard with newer vinyl fence and storage shed. Alley access and space for future garage. Unfinished basement with laundry area and the possibilities of more. Washer and dryer included. Central air installed in 2021.
Unit Size
1,032 Ft²
Days on Market
-
Land Size
-
Price per sqft
$131
Property Type
House
Property Taxes
$195
HOA Dues
-
Year Built
1895

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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.

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1895
  • Effective Year Built: 1895
  • 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: 3,485
  • Total Building Area: 1,032
  • Gross Building Area: 1,032
  • Building Area: 1,032
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,032
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: HIGHLAND ADD
  • Land Acres: 0000000080
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: HIGHLAND ADD TO OTTAWA, S1/2 LT 15 BLK 7 SEC 13-33-3

Neighborhood

  • School District Name: Ottawa Elementary School District 141
  • Census Tract: 963600

Geography

  • District: SO
  • Parcel: 22-13-102-008
  • Block: 7
  • Lot: 15
  • Meridian: SEC 13 TWN 33 RNG 03
  • Municipality: SOUTH OTTAWA TOWNSHIP
  • Latitude: 41.3377
  • Longitude: -88.8346

    Address

  • Full Address: 424 3rd Ave
  • Address - House Number: 424
  • Address - Street Name: 3rd
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Ottawa
  • Carrier Code: C006
  • 4-Digit Zip Code: 3614
  • Zip Code: 61350

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $210,222
  • Tax Rate Code Area: SO001

    Appraisal Valuation

  • Standard Deviation: 0.4581
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 8
  • Final Value: 65,680
  • High Value: 95,772
  • Low Value: 35,587

    Market Valuation

  • Market Total Value: $76,971
  • Market Land Value: $30,399
  • Market Improvement Value: $46,572

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $25,657
  • Assessed Land Value: $10,133
  • Assessed Improvements Value: $15,524

    Sales

  • Current Sale Contract Date: Aug 01, 2022
  • Current Sale Recording Date: Aug 03, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2022-09994
  • Previous Sale Recording Date: Dec 22, 2017
  • Previous Sale Contract Date: Dec 22, 2017
  • Previous Sale Amount: $60,000
  • Previous Sale Document Type: 27

    Financing

  • First Mortgage Financing Type: FIX
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 Ottawa

Stats & Trends

Median Asking:

$229,250

Sale Price/ft²

$157

Below Asking

0.02%

Average Days on Market

54

Average Home Size

1778 ft²

Average Home Age

55.1 years

Currently For Sale

62 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: Tammy Rodrigues, GENERATION HOME PRO
Data Source: MRED, MLS# MRD12201270
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 424 3rd Avenue built and last sold?
The property at 424 3rd Avenue was built in 1895 and last sold on Aug 1, 2022 for $110,000.
How much is this home worth?
The estimated value of the home located at 424 3rd Avenue is $0.
What are some comparable homes to 424 3rd Avenue?
There are currently no comparable homes to 424 3rd Avenue.
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