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Ottawa 61350
500 Mason Street
$59,000
● House - Off Market

500 Mason Street

Ottawa, IL 61350
bedrooms
2 Beds
bathrooms
1 Bath
square feet
665 Ft²
$85,099
RealtyHop Estimate
27.20%
Since Mar 1, 2021
National-US
Primary Model

About This Property

Come see this well maintained 2 bedroom ranch located on Ottawa's south side.  Great opportunity for a first time buyer, someone downsizing, or an investor.  Beautiful hardwood floors in family room and bedrooms.  Low maintenance siding, replacement windows, and newer roof.
Unit Size
665 Ft²
Days on Market
-
Land Size
0.10 acres
Price per sqft
$101
Property Type
House
Property Taxes
$223
HOA Dues
-
Year Built
1940

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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: 2 years ago (MRED MLS #10858130)

Price History

Date / Event Date Event Price
Feb 8, 2021 Sold
Premium
Sold
Sep 14, 2020 Listed by RE/MAX 1st Choice $66,900
Listed by RE/MAX 1st Choice

Property Highlights

Building Info

Overview

    General

  • Year Built: 1940
  • Effective Year Built: 1940
  • 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: 4,488
  • Total Building Area: 624
  • Gross Building Area: 624
  • Building Area: 624
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 624
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MASONS ADD
  • Land Acres: 0000000103
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: MASON'S ADD TO OTTAWA, S1/2 LT 12 BLK 1 SEC 13-33-3

Neighborhood

  • School District Name: Ottawa Elementary School District 141
  • Census Tract: 963500

Geography

  • District: SO
  • Parcel: 22-13-301-023
  • Block: 1
  • Lot: 12
  • Meridian: SEC 13 TWN 33 RNG 03
  • Municipality: SOUTH OTTAWA TOWNSHIP
  • Latitude: 41.331
  • Longitude: -88.8344

    Address

  • Full Address: 500 Mason St
  • Address - House Number: 500
  • Address - Street Name: Mason
  • Address - Suffix Type: St
  • State: IL
  • City Name: Ottawa
  • Carrier Code: C011
  • 4-Digit Zip Code: 4044
  • Zip Code: 61350

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $298,194
  • Tax Rate Code Area: SO001

    Appraisal Valuation

  • Standard Deviation: 0.2707
  • Valuation Date: Jun 14, 2023
  • Confidence Score: 61
  • Final Value: 92,124
  • High Value: 117,068
  • Low Value: 67,180

    Market Valuation

  • Market Total Value: $83,649
  • Market Land Value: $20,118
  • Market Improvement Value: $63,531

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $27,883
  • Assessed Land Value: $6,706
  • Assessed Improvements Value: $21,177

    Sales

  • Current Sale Contract Date: Feb 05, 2021
  • Current Sale Recording Date: Feb 17, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2021-02484
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:

$229,700

Sale Price/ft²

$156

Below Asking

0.02%

Average Days on Market

53

Average Home Size

1752 ft²

Average Home Age

50.6 years

Currently For Sale

71 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: Douglas Carroll, RE/MAX 1st Choice
Last Updated: 2 years ago
Data Source: MRED, MLS# 10858130
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 500 Mason Street built and last sold?
The property at 500 Mason Street was built in 1940 and last sold on Feb 5, 2021 for $59,000.
How much is this home worth?
The estimated value of the home located at 500 Mason Street is $0.
What are some comparable homes to 500 Mason Street?
There are currently no comparable homes to 500 Mason Street.
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