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Joliet 60431 Timbers
505 Timberline Drive
$355,000
● House - Off Market

505 Timberline Drive

Joliet, IL 60431
bedrooms
3 Beds
bathrooms
3 Baths
square feet
2,604 Ft²
$366,170
RealtyHop Estimate
1.74%
Since May 1, 2023
National-US
Primary Model

About This Property

Rare 3 bdrm, 3 bath ranch in Timberline with 2 car gar and basement. Many newer updates in 2019 that include roof, HVAC,  whole house generator, 200 amp Service with almost all new wiring and radon mitigation system. All 3 baths were also completely remodeled with custom tile, cabinets and showers (one bath has a tub). All new Kohler plumbing fixtures. Brazilian Cherry hardwood floors throughout. Brand new kitchen with custom cabinets and Kitchen Aid appliances. Refrigerator not included. The water well pressure tank and sump pump and washer/dryer were new in 2019 too. The living Room features a gas fireplace. There's an unfinished 3 season room in back. Call for a private showing!
Unit Size
2,604 Ft²
Days on Market
-
Land Size
0.58 acres
Price per sqft
$138
Property Type
House
Property Taxes
$633
HOA Dues
$8
Year Built
1957

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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.

Last updated: 3 years ago (MRED MLS #11659568)

Price History

Date / Event Date Event Price
Apr 10, 2023 Sold
Premium
Sold
Oct 23, 2022 Listed by Century 21 Circle $359,900
Listed by Century 21 Circle

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1957
  • Effective Year Built: 1957
  • Bedroom Count: 0
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 299
  • Garage Type: 1
  • Garage Square Area: 506
  • Parking Space Count: 2
  • Patio Type: 20
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 25,407
  • Total Building Area: 2,604
  • Building Area: 2,604
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 0
  • Heated Square Feet: 2,604
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: TIMBERLINE
  • Land Acres: 0000000580
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 51 IN TIMBERLINE UNIT 1 A SUB OF PRT OF THE W 1/2 OF THE E1/2 SEC 11 T35N-R9E.

Neighborhood

  • School District Name: Troy Community Consolidated School District 30C
  • Census Tract: 883210

Geography

  • Parcel: 05-06-11-206-007
  • Lot: 51
  • Meridian: SEC 11 TWN 35N RNG 09E
  • Municipality: TROY
  • Latitude: 41.5315
  • Longitude: -88.1666

    Address

  • Full Address: 505 Timberline Dr
  • Legal Unit: 1
  • Address - House Number: 505
  • Address - Street Name: Timberline
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Joliet
  • Carrier Code: C033
  • 4-Digit Zip Code: 4830
  • Zip Code: 60431

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $812,586
  • Tax Rate Code Area: 0548

    Appraisal Valuation

  • Standard Deviation: 0.1419
  • Valuation Date: Aug 09, 2023
  • Confidence Score: 83
  • Final Value: 381,635
  • High Value: 435,815
  • Low Value: 327,455

    Market Valuation

  • Market Total Value: $305,889
  • Market Land Value: $74,004
  • Market Improvement Value: $231,885

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $101,963
  • Assessed Land Value: $24,668
  • Assessed Improvements Value: $77,295

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Apr 04, 2023
  • Current Sale Recording Date: Apr 12, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 17173
  • Previous Sale Recording Date: Sep 09, 2002
  • Previous Sale Contract Date: Sep 05, 2002
  • Previous Sale Amount: $250,000
  • Previous Sale Document Type: 27

    Financing

  • First Mortgage Financing Type: ADJ
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 Timbers

Stats & Trends

Median Asking:

$599,700

Sale Price/ft²

$164

Below Asking

0.01%

Average Days on Market

43

Average Home Size

4171 ft²

Average Home Age

52 years

Currently For Sale

2 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 921 Summit Creek Drive, Shorewood, IL, 60404

$2,550 /mo

  • 3 Beds
  • 2 Baths
  • 2,968 ft²
921 Summit Creek Drive, Shorewood, IL, 60404 Listing by Abhijit Leekha

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Douglas Geissler, Century 21 Circle
Last Updated: 3 years ago
Data Source: MRED, MLS# 11659568
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 Timberline Drive built and last sold?
The property at 505 Timberline Drive was built in 1957 and last sold on Apr 4, 2023 for $355,000.
How much is this home worth?
The estimated value of the home located at 505 Timberline Drive is $0.
What are some comparable homes to 505 Timberline Drive?
There are currently no comparable homes to 505 Timberline Drive.
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