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Elgin 60120 Northeast Elgin
508 River Bluff Road
$250,000
● House - Off Market

508 River Bluff Road

Elgin, IL 60120
bedrooms
2 Beds
bathrooms
1 Bath
square feet
900 Ft²
$1,643
Est. Monthly
8.86%
Cap Rate

About This Property

EXTRA SPECIAL, CHARMING CORNER LOT WITH SIDE YARD AND LOVELY LANDSCAPED GARDENS. INTERIOR UPGRADES FEATURE UPDATED KITCHEN AND BATHROOM, COMPLEMENTED BY A MIX OF NEWER DURABLE VINLY PLANK FLOORING AND TIMELESS HARDWOOD FLOORING. THE ENLOSED FRONT PORCH OFFERS A GREAT SPOT TO KICK OFF YOUR SHOES! CONVENIENT FIRST-FLOOR LAUNDRY IS A STEP SAVERS DELIGHT. THE ATTACHED 1-1/2  CAR GARAGE IS A BIT MORE FLEXIBLE THAN A STANDARD 1 CAR GARAGE, THIS SPACE IS PERFECT FOR EXTRA STORAGE OR A WORKSHOP AREA. CENTRAL AIR, 4 CELIG FANS W/LIGHTS. FULL BASEMENT TOO. GREAT LOCATION ON THE CORNER OF RIVER BLUFF AND HILL; HILL IS A DEAD END STREET TOO. EASY ACCESS TO I-90 TOO AS WELL AS METRA DOWNTOWN ELGIN.
Unit Size
900 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$278
Property Type
House
Property Taxes
$416
HOA Dues
-
Year Built
1926

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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.

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1926
  • Effective Year Built: 1926
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 3
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 896
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,712
  • Lot Size Depth Feet: 1,320
  • Lot Size Frontage Feet: 660
  • Total Building Area: 1,792
  • Gross Building Area: 1,792
  • Building Area: 896
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 5
  • Heating: 0
  • Heated Square Feet: 896
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RIVERSIDE PARK ADDN
  • Land Acres: 0000000200
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: RIVERSIDE PARK ADDN LOT 7 BLOCK 3

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 850800

Geography

  • Parcel: 06-12-203-003
  • Block: 3
  • Lot: 7
  • Municipality: ELGIN
  • Latitude: 42.0585
  • Longitude: -88.27

    Address

  • Full Address: 508 River Bluff Rd
  • Address - House Number: 508
  • Address - Street Name: River Bluff
  • Address - Suffix Type: Rd
  • State: IL
  • City Name: Elgin
  • Carrier Code: C005
  • 4-Digit Zip Code: 2443
  • Zip Code: 60120

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $450,274
  • Tax Rate Code Area: EL005

    Appraisal Valuation

  • Standard Deviation: 0.1658
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 79
  • Final Value: 230,034
  • High Value: 268,183
  • Low Value: 191,885

    Market Valuation

  • Market Total Value: $173,854
  • Market Land Value: $48,079
  • Market Improvement Value: $125,774

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $57,928
  • Assessed Land Value: $16,020
  • Assessed Improvements Value: $41,908

    Sales

  • Current Sale Contract Date: Nov 09, 2021
  • Current Sale Recording Date: Dec 20, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 68
  • Current Sale Input Document Number: 2021K094197
  • Previous Sale Recording Date: Mar 02, 2017
  • Previous Sale Contract Date: Mar 01, 2017
  • Previous Sale Amount: $90,000
  • Previous Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: UNK
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 Northeast Elgin

Stats & Trends

Median Asking:

$302,500

Sale Price/ft²

$204

Below Asking

0.01%

Average Days on Market

42

Average Home Size

1570 ft²

Average Home Age

57.6 years

Currently For Sale

19 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 506 Barrett Street, Elgin, IL, 60120

$2,500 /mo

  • 3 Beds
  • 1 Bath
  • 1,430 ft²
506 Barrett Street, Elgin, IL, 60120 Listing by Jesus Perez
Unit for rent at 620 Cobblestone Court, Elgin, IL, 60120

$2,395 /mo

  • 2 Beds
  • 2 Baths
  • 1,330 ft²
620 Cobblestone Court #620, Elgin, IL, 60120 Listing by Timothy Winfrey

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Rita Landem, Premier Living Properties
Data Source: MRED, MLS# MRD12455668
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 508 River Bluff Road built and last sold?
The property at 508 River Bluff Road was built in 1926 and last sold on Nov 9, 2021 for $200,000.
How much is this home worth?
The estimated value of the home located at 508 River Bluff Road is $0.
What are some comparable homes to 508 River Bluff Road?
There are currently no comparable homes to 508 River Bluff Road.
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