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Bloomington 61701
504 Delmar Lane
$225,000
● House - Off Market

504 Delmar Lane

Bloomington, IL 61701
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,674 Ft²
$1,405
Est. Monthly
10.67%
Cap Rate

About This Property

Look at this sweet 3-bedroom 1.5 bath ranch home in the heart of Bloomington.  The roof was replaced in September 2023. Cabinet countertops, kitchen sink, microwave, and stove were replaced in October 2020.  A/C and furnace were replaced in August 2021 and November 2022, respectively. Ceiling lights were added in the living room and each bedroom, along with new switches. The finished basement has a nice-sized family room and a half bath.  The home has an oversized, spacious 1-car garage that measures approximately 22x16.  There is a dawn-to-dusk security light in the backyard; the cost for this is covered by the current homeowner.  Close to Ewing Park, restaurants, and shopping venues, this home is sure to please.
Unit Size
1,674 Ft²
Days on Market
-
Land Size
-
Price per sqft
$134
Property Type
House
Property Taxes
$300
HOA Dues
-
Year Built
1961

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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
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1961
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 3
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 2
  • Interior Walls Type: 3
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Floor Cover: 9
  • Basement Type: 6
  • Basement Area: 1,080
  • Garage Type: 1
  • Garage Square Area: 354
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 106
  • Pool Type: 0
  • Location Influence Type: 118

    Dimensions

  • Lot Size Square Feet: 8,846
  • Lot Size Depth Feet: 1,210
  • Lot Size Frontage Feet: 840
  • Total Building Area: 2,514
  • Gross Building Area: 2,514
  • Building Area: 1,674
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,674
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FAIRWAY KNOLLS
  • Land Acres: 0000000203
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: FOURTH ADD TO FAIRWAY KNOLLS LOT 171

Neighborhood

  • School District Name: Bloomington School District 87
  • School Tax School District: 087
  • Census Tract: 001200

Zoning

  • Zoning: R1B

Geography

  • District: 40
  • Parcel: 14-35-303-016
  • Lot: 171
  • Meridian: SEC 35 TWN 24N RNG 02E
  • Municipality: CITY OF BLOOMINGTON
  • Latitude: 40.4923
  • Longitude: -88.9604

    Address

  • Full Address: 504 Delmar Ln
  • Address - House Number: 504
  • Address - Street Name: Delmar
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Bloomington
  • Carrier Code: C029
  • 4-Digit Zip Code: 2103
  • Zip Code: 61701

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $295,888
  • Tax Rate Code Area: 4001

    Appraisal Valuation

  • Standard Deviation: 0.2237
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 69
  • Final Value: 186,605
  • High Value: 228,355
  • Low Value: 144,855

    Market Valuation

  • Market Total Value: $122,445
  • Market Land Value: $34,146
  • Market Improvement Value: $88,299

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $40,815
  • Assessed Land Value: $11,382
  • Assessed Improvements Value: $29,433

    Sales

  • Current Sale Contract Date: Jul 07, 2020
  • Current Sale Recording Date: Aug 04, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2020-00014959
  • Previous Sale Recording Date: Oct 17, 2013
  • Previous Sale Contract Date: Oct 04, 2013
  • Previous Sale Amount: $136,000
  • Previous Sale Document Type: 71

    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 Bloomington

Stats & Trends

Median Asking:

$261,000

Sale Price/ft²

$119

Below Asking

0.01%

Average Days on Market

46

Average Home Size

2452 ft²

Average Home Age

59.4 years

Currently For Sale

100 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 1313 E Washington Street, Bloomington, IL, 61701

$2,700 /mo

  • 5 Beds
  • 2 Baths
  • 3,525 ft²
1313 E Washington Street, Bloomington, IL, 61701 Listing by Colleen Zerebny
Unit for rent at 612 1/2 E Chestnut Street, Bloomington, IL, 61701

$1,250 /mo

  • 2 Beds
  • 1 Bath
  • 900 ft²
612 1/2 E Chestnut Street #2, Bloomington, IL, 61701 Listing by Tracy Haas Riley

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Kathy O'Brien Boston, Coldwell Banker Real Estate Group
Data Source: MRED, MLS# MRD12360384
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 504 Delmar Lane built and last sold?
The property at 504 Delmar Lane was built in 1961 and last sold on Jul 7, 2020 for $133,000.
How much is this home worth?
The estimated value of the home located at 504 Delmar Lane is $225,988.
What are some comparable homes to 504 Delmar Lane?
There are currently no comparable homes to 504 Delmar Lane.
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