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Wilmington 60481
508 S Outer Drive
$202,000
● House - Off Market

508 S Outer Drive

Wilmington, IL 60481
bedrooms
3 Beds
bathrooms
1 Bath
square feet
900 Ft²
$198,653
RealtyHop Estimate
-0.62%
Since Oct 1, 2023
National-US
Primary Model

About This Property

Discover the perfect fusion of style and practicality in this renovated 3-bedroom, 1-bathroom home. The new roof, siding, and gutters, along with all brand new flooring and fresh paint, create an inviting atmosphere. Inside, a sleek kitchen boasts stainless steel appliances, quartz countertops, and a spacious island. The 1-car garage with a separate laundry area, new windows, and an upgraded electrical panel add convenience. Enjoy outdoor gatherings in the fenced front yard and on the brick paver patio. Nothing to do but make your appointment today and move in!!!!  ****Multiple offers received. Calling for highest and best by Monday August 21st at noon****
Unit Size
900 Ft²
Days on Market
-
Land Size
-
Price per sqft
$222
Property Type
House
Property Taxes
$235
HOA Dues
-
Year Built
-

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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: 3 years ago (MRED MLS #11862952)

Price History

Date / Event Date Event Price
Sep 25, 2023 Sold
Premium
Sold
Aug 17, 2023 Listed by RE/MAX Ultimate Professionals $199,900
Listed by RE/MAX Ultimate Professionals

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Total Rooms: 6
  • Bedroom Count: 3
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,476
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 24
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: NORTHCREST
  • Land Acres: 0000000130
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 95 IN NORTHCREST SUB, A SUB OF PRT OF THE E1/2 NW1/4 OF SEC 25, T33N-R9E.

Neighborhood

  • School District Name: Wilmington Community Unit School District 209U
  • Census Tract: 883402

Geography

  • Parcel: 03-17-25-107-025
  • Lot: 95
  • Meridian: SEC 25 TWN 33N RNG 09E
  • Municipality: WILMINGTON
  • Latitude: 41.3171
  • Longitude: -88.1447

    Address

  • Full Address: 508 S Outer Dr
  • Address - House Number: 508
  • Street Direction: S
  • Address - Street Name: Outer
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Wilmington
  • Carrier Code: C002
  • 4-Digit Zip Code: 1060
  • Zip Code: 60481

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $299,530
  • Tax Rate Code Area: 0302

    Appraisal Valuation

  • Standard Deviation: 0.0871
  • Valuation Date: Sep 27, 2023
  • Confidence Score: 92
  • Final Value: 197,387
  • High Value: 214,597
  • Low Value: 180,178

    Market Valuation

  • Market Total Value: $134,316
  • Market Land Value: $36,432
  • Market Improvement Value: $97,884

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $44,772
  • Assessed Land Value: $12,144
  • Assessed Improvements Value: $32,628

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Sep 12, 2023
  • Current Sale Recording Date: Sep 21, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 49511
  • Previous Sale Recording Date: May 23, 2023
  • Previous Sale Contract Date: May 05, 2023
  • Previous Sale Amount: $110,000
  • 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 Wilmington

Stats & Trends

Median Asking:

$275,000

Sale Price/ft²

$183

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1640 ft²

Average Home Age

37 years

Currently For Sale

8 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: Aaron Tidmore, RE/MAX Ultimate Professionals
Last Updated: 3 years ago
Data Source: MRED, MLS# 11862952
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 South Outer Drive built and last sold?
The property at 508 South Outer Drive was built in and last sold on Sep 12, 2023 for $202,000.
How much is this home worth?
The estimated value of the home located at 508 South Outer Drive is $200,750.
What are some comparable homes to 508 South Outer Drive?
There are currently no comparable homes to 508 South Outer Drive.
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