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Ottawa 61350
501 Second Avenue
$79,000
● House - Off Market

501 Second Avenue

OTTAWA, IL 61350
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,300 Ft²
$132,378
RealtyHop Estimate
70.81%
Since May 1, 2007
National-US
Primary Model

About This Property

Large living room; formal dining room; eat-in kitchen.  Main floor master bedroom. 2 large bedrooms upstairs. Natural woodwork throughout. Possibility of hardwood floors under carpeting. Screened porch; volume ceilings.  This Southside 3 bedroom home has excellent potential.  A must see!  Agent Related.
Unit Size
1,300 Ft²
Days on Market
-
Land Size
-
Price per sqft
$60
Property Type
House
Property Taxes
$48
HOA Dues
-
Year Built
1900

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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.

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1900
  • 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: 7,405
  • Total Building Area: 1,089
  • Gross Building Area: 1,089
  • Building Area: 1,089
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,089
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: HIGHLAND ADD
  • Land Acres: 0000000170
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: HIGHLAND ADD TO OTTAWA, LT 1 BLK 9 SEC 13-33-3

Neighborhood

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

Geography

  • District: SO
  • Parcel: 22-13-107-009
  • Block: 9
  • Lot: 1
  • Meridian: SEC 13 TWN 33 RNG 03
  • Municipality: SOUTH OTTAWA TOWNSHIP
  • Latitude: 41.3367
  • Longitude: -88.8362

    Address

  • Full Address: 501 2nd Ave
  • Address - House Number: 501
  • Address - Street Name: 2nd
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Ottawa
  • Carrier Code: C006
  • 4-Digit Zip Code: 3611
  • Zip Code: 61350

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $330,994
  • Tax Rate Code Area: SO001

    Appraisal Valuation

  • Standard Deviation: 0.1361
  • Valuation Date: Jun 14, 2023
  • Confidence Score: 72
  • Final Value: 107,796
  • High Value: 122,472
  • Low Value: 93,119

    Market Valuation

  • Market Total Value: $92,850
  • Market Land Value: $30,399
  • Market Improvement Value: $62,451

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $30,950
  • Assessed Land Value: $10,133
  • Assessed Improvements Value: $20,817

    Sales

  • Current Sale Contract Date: Apr 25, 2019
  • Current Sale Recording Date: May 02, 2019
  • Current Sale Document Type: 64
  • Current Sale Input Document Number: 201904810
  • Previous Sale Recording Date: Apr 12, 2007
  • Previous Sale Contract Date: Apr 11, 2007
  • Previous Sale Amount: $79,000
  • 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 Ottawa

Stats & Trends

Median Asking:

$229,500

Sale Price/ft²

$156

Below Asking

0.02%

Average Days on Market

54

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: George Shanley, Coldwell Banker The Real Estate Group
Data Source: MRED, MLS# MRD06358727
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 501 2nd Avenue built and last sold?
The property at 501 2nd Avenue was built in 1900 and last sold on Apr 25, 2019 for $0.
How much is this home worth?
The estimated value of the home located at 501 2nd Avenue is $0.
What are some comparable homes to 501 2nd Avenue?
There are currently no comparable homes to 501 2nd Avenue.
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