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Algonquin 60102
509 Summit Street
$352,500
● House - Off Market

509 Summit Street

Algonquin, IL 60102
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,320 Ft²
$2,285
Est. Monthly
6.80%
Cap Rate

About This Property

Very bright and beautiful home, with a three bedroom and full, finished basement.  Kitchen has an eating area and plenty of cabinets. Spacious  living room is ready for family gatherings.  Bedrooms are sunny and generous sized. Updated flooring and a bathroom.  Basement features a large family room, storage/exercises room and workshop area.  Two car garages are attached to the house.  Big and lovely backyard has a patio and is fully fenced.  The water filter system stays with the house.  Close proximity to store, restaurants and beautiful village downtown.
Unit Size
1,320 Ft²
Days on Market
-
Land Size
-
Price per sqft
$267
Property Type
House
Property Taxes
$554
HOA Dues
-
Year Built
1961

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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 #12221949)

Price History

Date / Event Date Event Price
Mar 14, 2025 Sold
Premium
Sold
Jan 30, 2025 In contract -
In contract
Jan 10, 2025 Price Decreased $352,500
↓ $3K (0.7%)
Price Decreased
Dec 14, 2024 Listed by KOMAR $355,000
Listed by KOMAR

Property Highlights

Building Info

Overview

    General

  • Year Built: 1961
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • 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
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 1,320
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,220
  • Lot Size Depth Feet: 1,320
  • Lot Size Frontage Feet: 850
  • Total Building Area: 2,640
  • Building Area: 1,320
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,320
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: JANAKS 3RD ADDN
  • Land Acres: 0000000258
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: DOC 2021R0002026 /EX NELY 79FT/ LT 6 & /EX SLY 26FT/ LT 5 BLK 12 JANAKS 3RD ADDN

Neighborhood

  • School District Name: Community Unit School District 300
  • Census Tract: 871310

Geography

  • Parcel: 19-34-333-003
  • Block: 12
  • Lot: 6,5
  • Municipality: ALGONQUIN TWP
  • Latitude: 42.1594
  • Longitude: -88.2895

    Address

  • Full Address: 509 Summit St
  • Address - House Number: 509
  • Address - Street Name: Summit
  • Address - Suffix Type: St
  • State: IL
  • City Name: Algonquin
  • Carrier Code: C005
  • 4-Digit Zip Code: 2850
  • Zip Code: 60102

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $465,484
  • Tax Rate Code Area: 19005

    Appraisal Valuation

  • Standard Deviation: 0.1647
  • Valuation Date: Jan 10, 2024
  • Confidence Score: 79
  • Final Value: 277,634
  • High Value: 323,369
  • Low Value: 231,900

    Market Valuation

  • Market Total Value: $180,834
  • Market Land Value: $50,589
  • Market Improvement Value: $130,245

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $60,278
  • Assessed Land Value: $16,863
  • Assessed Improvements Value: $43,415

    Sales

  • Current Sale Contract Date: Nov 17, 2020
  • Current Sale Recording Date: Jan 12, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2021R0002026
  • Previous Sale Recording Date: Dec 13, 2016
  • Previous Sale Contract Date: Nov 28, 2016
  • Previous Sale Amount: $176,000
  • Previous Sale Document Type: 69
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 Algonquin

Stats & Trends

Median Asking:

$424,990

Sale Price/ft²

$207

Below Asking

0.01%

Average Days on Market

44

Average Home Size

2438 ft²

Average Home Age

22.8 years

Currently For Sale

51 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 303 Ridge Street, Algonquin, IL, 60102

$2,500 /mo

  • 3 Beds
  • 1 Bath
  • 1,300 ft²
303 Ridge Street, Algonquin, IL, 60102 Listing by Heidi Peterson

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Agnes Wlodarczyk, KOMAR
Last Updated: 2 years ago
Data Source: MRED, MLS# 12221949
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 509 Summit Street built and last sold?
The property at 509 Summit Street was built in 1961 and last sold on Nov 17, 2020 for $240,000.
How much is this home worth?
The estimated value of the home located at 509 Summit Street is $0.
What are some comparable homes to 509 Summit Street?
There are currently no comparable homes to 509 Summit Street.
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