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Addison 60101
515 W Memory Lane
$310,000
● House - Off Market

515 W Memory Lane

Addison, IL 60101
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,064 Ft²
$346,486
RealtyHop Estimate
10.17%
Since Jan 1, 2022
National-US
Primary Model

About This Property

THIS IS IT- Close to schools, parks, shopping and more! This move-in-ready 3 bed, 2 bath split-level home has been freshly painted and features beautifully refinished hardwood floors throughout. The main level living boasts an open concept living room, dining room, and a beautiful kitchen with plenty of cabinet space, granite countertops, newer SS appliances PLUS a BONUS walk-in pantry with built-ins. Retreat to the LARGE lower level FLEX SPACE with all new wood laminate flooring plus a full bath and separate laundry room with tons of storage space. The backyard is fully fenced + an EXTRA LARGE 2.5 car garage! You HAVE to see this beautiful home! Updates include a new roof (2016) new HVAC(2016) HWH (2017) | Crawl space sealed (2015) | Driveway resealed (2021)
Unit Size
1,064 Ft²
Days on Market
-
Land Size
-
Price per sqft
$296
Property Type
House
Property Taxes
$451
HOA Dues
-
Year Built
1959

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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 #11218696)

Price History

Date / Event Date Event Price
Dec 13, 2021 Sold
Premium
Sold
Sep 24, 2021 Listed by RE/MAX Vision 212 $314,500
Listed by RE/MAX Vision 212

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1959
  • Effective Year Built: 1959
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 2
  • Building Style: 41
  • Exterior Walls Type: 2
  • 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: 528
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,712
  • Lot Size Depth Feet: 104
  • Lot Size Frontage Feet: 80
  • Total Building Area: 1,624
  • Gross Building Area: 1,624
  • Building Area: 1,624
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 1,624
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: A P ROSS PIONEER PARK
  • Land Acres: 0000000200
  • Standard Land Use Code: 1001
  • County Land Use Code: R
  • Legal Description 1: A P ROSS PIONEER PARK UNIT NO 5

Neighborhood

  • School District Name: Addison School District 4
  • School Tax School District: ADDISON
  • Census Tract: 846603

Zoning

  • Zoning: R

Geography

  • Assessors Map Reference: 2970-D5
  • Parcel: 03-29-205-015
  • Lot: 10
  • Municipality: ADDISON
  • Latitude: 41.9298
  • Longitude: -88.0016

    Address

  • Full Address: 515 W Memory Ln
  • Legal Unit: 5
  • Address - House Number: 515
  • Street Direction: W
  • Address - Street Name: Memory
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Addison
  • Carrier Code: C036
  • 4-Digit Zip Code: 3407
  • Zip Code: 60101

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $581,018
  • Tax Rate Code Area: 3033

    Appraisal Valuation

  • Standard Deviation: 0.1741
  • Valuation Date: Jan 10, 2024
  • Confidence Score: 77
  • Final Value: 318,857
  • High Value: 374,384
  • Low Value: 263,329

    Market Valuation

  • Market Total Value: $254,670
  • Market Land Value: $97,620
  • Market Improvement Value: $157,050

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $84,890
  • Assessed Land Value: $32,540
  • Assessed Improvements Value: $52,350

    Sales

  • Current Sale Contract Date: Dec 13, 2021
  • Current Sale Recording Date: Dec 27, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: R2021-183130
  • Previous Sale Recording Date: Oct 04, 2006
  • Previous Sale Contract Date: Sep 15, 2006
  • Previous Sale Amount: $285,000
  • 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 Addison

Stats & Trends

Median Asking:

$401,266

Sale Price/ft²

$222

Below Asking

0.01%

Average Days on Market

43

Average Home Size

1896 ft²

Average Home Age

42.1 years

Currently For Sale

49 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: Sylvana Menolascino, RE/MAX Vision 212
Last Updated: 3 years ago
Data Source: MRED, MLS# 11218696
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 515 West Memory Lane built and last sold?
The property at 515 West Memory Lane was built in 1959 and last sold on Dec 13, 2021 for $310,000.
How much is this home worth?
The estimated value of the home located at 515 West Memory Lane is $314,017.
What are some comparable homes to 515 West Memory Lane?
There are currently no comparable homes to 515 West Memory Lane.
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