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Machesney Park 61115
516 Gilbert Terrace
$190,000
● House - Off Market

516 Gilbert Terrace

Machesney Park, IL 61115
bedrooms
3 Beds
bathrooms
2 Baths
square feet
980 Ft²
$1,216
Est. Monthly
14.64%
Cap Rate

About This Property

Beautiful brick 3-bedroom, 2-bath home for sale in Machesney Park, IL! Featuring a brand-new roof (2024) and charming curb appeal with nice landscaping, a welcoming front porch, and a lovely walkway. Inside, enjoy an open floor plan with hardwood floors, ceiling fans, and a renovated bathroom. Two bedrooms are located upstairs, and the kitchen offers a fridge, stove, and microwave. The finished basement includes a second bathroom, a nice laundry area, and plenty of extra living space. Recent updates include a new water heater (2024) and AC (2021). Outside, relax in the fenced yard with a wooden fence, plus a 220 outlet in the garage for convenience. Great location near shopping, parks, and the Rock River!
Unit Size
980 Ft²
Days on Market
-
Land Size
-
Price per sqft
$194
Property Type
House
Property Taxes
$283
HOA Dues
-
Year Built
1946

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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.

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1946
  • Effective Year Built: 1946
  • Building Count: 1
  • Total Rooms: 4
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Bathroom Plumbing Fixtures: 5
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 4
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 731
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,320
  • Lot Size Depth Feet: 1,600
  • Lot Size Frontage Feet: 500
  • Total Building Area: 731
  • Gross Building Area: 731
  • Building Area: 731
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 3
  • Heated Square Feet: 731
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LIBERTY PARK SUB
  • Land Acres: 0000000237
  • Standard Land Use Code: 1001
  • County Land Use Code: 31
  • Legal Description 1: LIBERTY PARK SUB PT SW 1/4 SEC 30-45-2LOT 8 + WLY 14 FT LOT 07B BLOCK 006

Neighborhood

  • School District Name: Harlem Unit School District 122
  • Census Tract: 000101

Geography

  • Parcel: 08-30-376-015
  • Block: 006
  • Lot: 07B
  • Meridian: SEC 30 TWN 45 RANGE 2
  • Municipality: HARLEM
  • Latitude: 42.3429
  • Longitude: -89.0529

    Address

  • Full Address: 516 Gilbert Ter
  • Address - House Number: 516
  • Address - Street Name: Gilbert
  • Address - Suffix Type: Ter
  • State: IL
  • City Name: Machesney Park
  • Carrier Code: C031
  • 4-Digit Zip Code: 2421
  • Zip Code: 61115

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $0
  • Tax Rate Code Area: 416

    Appraisal Valuation

  • Standard Deviation: 0.2552
  • Valuation Date: Jan 10, 2024
  • Confidence Score: 63
  • Final Value: 139,451
  • High Value: 175,044
  • Low Value: 103,858

    Market Valuation

  • Market Total Value: $103,512
  • Market Land Value: $9,456
  • Market Improvement Value: $94,056

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $34,504
  • Assessed Land Value: $3,152
  • Assessed Improvements Value: $31,352

    Sales

  • Current Sale Contract Date: Dec 01, 2016
  • Current Sale Recording Date: Dec 06, 2016
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 36
  • Previous Sale Recording Date: Dec 07, 1998
  • Previous Sale Contract Date: Dec 07, 1998
  • Previous Sale Amount: $67,500
  • Previous Sale Document Type: 27
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 Machesney Park

Stats & Trends

Median Asking:

$219,500

Sale Price/ft²

$159

Below Asking

0.01%

Average Days on Market

38

Average Home Size

1731 ft²

Average Home Age

47.8 years

Currently For Sale

29 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: Fidel Batres, Keller Williams Realty Signature
Data Source: MRED, MLS# MRD12444392
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 516 Gilbert Terrace built and last sold?
The property at 516 Gilbert Terrace was built in 1946 and last sold on Dec 1, 2016 for $93,000.
How much is this home worth?
The estimated value of the home located at 516 Gilbert Terrace is $190,507.
What are some comparable homes to 516 Gilbert Terrace?
There are currently no comparable homes to 516 Gilbert Terrace.
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