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Ingalls Park 60433
505 Peale Street
$171,900
● House - Off Market

505 Peale Street

Joliet, IL 60433
bedrooms
2 Beds
bathrooms
1 Bath
square feet
890 Ft²
$1,091
Est. Monthly
11.61%
Cap Rate

About This Property

Opportunity waiting for that "right" buyer to come along and take advantage of all this brick bungalow has to offer. Enticing curb appeal enhanced by the side drive leading to the 2 car detached garage. Once inside buyers are sure to appreciate the generous room sizes and hardwood floors. There's a full unfinished basement waiting for your creative ideas. Nice size yard and the 2 car detached garage add to the amenities.
Unit Size
890 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$191
Property Type
House
Property Taxes
$256
HOA Dues
-
Year Built
1930

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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 #12257935)

Price History

Date / Event Date Event Price
Feb 12, 2025 Sold
Premium
Sold
Dec 23, 2024 In contract -
In contract
Dec 17, 2024 Listed by eXp Realty, LLC $169,900
Listed by eXp Realty, LLC

Property Highlights

Building Info

Overview

    General

  • Year Built: 1930
  • Effective Year Built: 1930
  • Bedroom Count: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 12
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 4
  • Garage Square Area: 324
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,740
  • Lot Size Frontage Feet: 400
  • Total Building Area: 890
  • Building Area: 890
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 0
  • Heated Square Feet: 890
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: L E INGALLS
  • Land Acres: 0000000110
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 12 BLOCK 13 IN LE INGALL'S SUB OF BLOCKS 10 THRU 17 OF INGALLS PARK SUB, BEING A SUB OF PRT OF THE W1/2 OF THE SW1/4 OF S

Neighborhood

  • School District Name: Joliet Public School District 86
  • Census Tract: 882300

Geography

  • Parcel: 30-07-13-305-012
  • Block: 10-17
  • Lot: 12
  • Meridian: SEC 13 TWN 35N RNG 10E
  • Municipality: JOLIET
  • Latitude: 41.5163
  • Longitude: -88.0408

    Address

  • Full Address: 505 Peale St
  • Address - House Number: 505
  • Address - Street Name: Peale
  • Address - Suffix Type: St
  • State: IL
  • City Name: Joliet
  • Carrier Code: C061
  • 4-Digit Zip Code: 2143
  • Zip Code: 60433

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $301,588
  • Tax Rate Code Area: 3017

    Appraisal Valuation

  • Standard Deviation: 0.1419
  • Valuation Date: Aug 09, 2023
  • Confidence Score: 83
  • Final Value: 161,061
  • High Value: 183,927
  • Low Value: 138,196

    Market Valuation

  • Market Total Value: $114,612
  • Market Land Value: $16,539
  • Market Improvement Value: $98,073

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $38,204
  • Assessed Land Value: $5,513
  • Assessed Improvements Value: $32,691

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Feb 14, 2003
  • Current Sale Recording Date: Feb 19, 2003
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: R2003036401
  • Previous Sale Recording Date: Apr 25, 2000
  • Previous Sale Contract Date: Apr 24, 2000
  • Previous Sale Amount: $70,000
  • 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 Ingalls Park

Stats & Trends

Median Asking:

$205,000

Sale Price/ft²

$191

Below Asking

0.02%

Average Days on Market

50

Average Home Size

893 ft²

Average Home Age

90 years

Currently For Sale

3 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 2515 E Cass Street, Joliet, IL, 60432

$1,800 /mo

  • 2 Beds
  • 1 Bath
  • 900 ft²
2515 E Cass Street #1A, Joliet, IL, 60432 Listing by Debbie Andrews

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Stan Wertelka, eXp Realty, LLC
Last Updated: 2 years ago
Data Source: MRED, MLS# 12257935
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 505 Peale Street built and last sold?
The property at 505 Peale Street was built in 1930 and last sold on Feb 14, 2003 for $100,000.
How much is this home worth?
The estimated value of the home located at 505 Peale Street is $174,432.
What are some comparable homes to 505 Peale Street?
There are currently no comparable homes to 505 Peale Street.
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