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Fox Lake 60050
506 Castle Road
$367,000
● House - Off Market

506 Castle Road

McHenry, IL 60050
bedrooms
4 Beds
bathrooms
2 Baths
square feet
2,376 Ft²
$2,535
Est. Monthly
8.85%
Cap Rate

About This Property

Chain O'Lakes Waterfront Retreat! This 4-bedroom, 2-bath home offers stunning western exposure on a dredged channel to Pistakee Lake. The open-concept great room features vaulted ceilings, wood accents, and new carpet. Enjoy breathtaking sunsets from the large west-facing windows or the expansive deck. The walk-out lower level boasts a spacious second living area with a cozy fireplace. Outside, you'll find a generous driveway, a 2-car garage for all your toys, a gazebo overlooking the water, a new (2025) retaining walls and a private pier. With its high-and-dry elevation and gorgeous water views, this is the perfect year-round home or summer escape- just in time for the season!
Unit Size
2,376 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$163
Property Type
House
Property Taxes
$634
HOA Dues
-
Year Built
1972

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Cap Rate Calculator

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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
Fireplace

Building Info

Overview

    General

  • Year Built: 1972
  • Effective Year Built: 1972
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 41
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 4
  • Garage Square Area: 484
  • Parking Space Count: 2
  • Patio Type: 69
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,623
  • Total Building Area: 1,188
  • Gross Building Area: 1,188
  • Building Area: 1,188
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,188
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RICHARD G.GREMLEY & ROY N.MILLER-S ROUND
  • Land Acres: 0000000175
  • Standard Land Use Code: 1001
  • County Land Use Code: 40
  • Legal Description 1: RICHARD G.GREMLEY & ROY N.MILLER-S ROUND HILL SUB LOT 172

Neighborhood

  • School District Name: Fox Lake Grade School District 114
  • Census Tract: 860908

Geography

  • Assessors Map Reference: 2472-E2
  • District: GRANT
  • Parcel: 05-04-301-105
  • Lot: 172
  • Municipality: TWP OF GRANT
  • Latitude: 42.4036
  • Longitude: -88.196

    Address

  • Full Address: 506 Castle Rd
  • Address - House Number: 506
  • Address - Street Name: Castle
  • Address - Suffix Type: Rd
  • State: IL
  • City Name: Mchenry
  • Carrier Code: R012
  • 4-Digit Zip Code: 7131
  • Zip Code: 60050

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $734,240
  • Tax Rate Code Area: 6063

    Appraisal Valuation

  • Standard Deviation: 0.1563
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 80
  • Final Value: 354,722
  • High Value: 410,188
  • Low Value: 299,256

    Market Valuation

  • Market Total Value: $284,053
  • Market Land Value: $49,514
  • Market Improvement Value: $234,539

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $94,675
  • Assessed Land Value: $16,503
  • Assessed Improvements Value: $78,172

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: May 30, 2018
  • Current Sale Recording Date: Jun 07, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 7489123
  • Previous Sale Recording Date: Oct 01, 2012
  • Previous Sale Contract Date: Sep 11, 2012
  • Previous Sale Amount: $236,900
  • Previous Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: UNK

    Previous Mortgages

  • Previous Mortgage Transaction Date:
    Premium
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 Fox Lake

Stats & Trends

Median Asking:

$265,000

Sale Price/ft²

$186

Below Asking

0.01%

Average Days on Market

45

Average Home Size

1593 ft²

Average Home Age

51.5 years

Currently For Sale

45 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: Ricki West, @properties Christie's International Real Estate
Data Source: MRED, MLS# MRD12329259
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 506 Castle Road built and last sold?
The property at 506 Castle Road was built in 1972 and last sold on May 30, 2018 for $250,000.
How much is this home worth?
The estimated value of the home located at 506 Castle Road is $392,498.
What are some comparable homes to 506 Castle Road?
There are currently no comparable homes to 506 Castle Road.
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