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Frankfort 60423
516 Meadow Avenue
$265,000
● House - Off Market

516 Meadow Avenue

FRANKFORT, IL 60423
bedrooms
3 Beds
bathrooms
2 Baths
$510,408
RealtyHop Estimate
89.11%
Since Aug 1, 2008
National-US
Primary Model

About This Property

Completely remodeled in the last 6 yrs.  New kitchen cabinets, light oak doors & trim, new siding, windows, soffits, facia.  New furnace, updated baths, 14'x26' no maint. deck, poss. 4th bedrm in lower level, garage "bumped" out one side, large workshop or storage, skylight in kitchen, mint condition. Whole house fan, garden shed, fenced, beautiful yard, finished heated garage. Shows like a model
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$391
HOA Dues
-
Year Built
1971

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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

Air Conditioning
Fireplace
Parking Available
Garage

Building Info

Overview

    General

  • Year Built: 1971
  • Effective Year Built: 1971
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 17
  • Building Style: 39
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 7
  • Roof Cover Type: 3
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 594
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,500
  • Lot Size Depth Feet: 1,400
  • Lot Size Frontage Feet: 750
  • Total Building Area: 1,547
  • Building Area: 1,547
  • Building Area Measurement: K

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 3
  • Heated Square Feet: 1,547
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: ARTHUR T MCINTOSH & COS LINCOLN MEADOWS
  • Land Acres: 0000000240
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 10 BLOCK 12 IN ARTHUR T MCINTOSH CO'S LINCOLN MEADOWS UNIT 2, A SUB OF PRT OF THE E1/2 OF THE NW1/4 OF SEC.21, T35N-R12E

Neighborhood

  • School District Name: Frankfort Community Consolidated School District 157C
  • Census Tract: 883515

Geography

  • Parcel: 19-09-21-115-006
  • Block: 12
  • Lot: 10
  • Meridian: SEC 21 TWN 35N RNG 12E
  • Municipality: FRANKFORT
  • Latitude: 41.5076
  • Longitude: -87.8631

    Address

  • Full Address: 516 Meadow Ave
  • Legal Unit: 2
  • Address - House Number: 516
  • Address - Street Name: Meadow
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Frankfort
  • Carrier Code: C001
  • 4-Digit Zip Code: 1132
  • Zip Code: 60423

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $657,500
  • Tax Rate Code Area: 1906

    Appraisal Valuation

  • Standard Deviation: 0.1615
  • Valuation Date: Aug 09, 2023
  • Confidence Score: 79
  • Final Value: 351,049
  • High Value: 407,760
  • Low Value: 294,337

    Market Valuation

  • Market Total Value: $250,422
  • Market Land Value: $54,285
  • Market Improvement Value: $196,137

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $83,474
  • Assessed Land Value: $18,095
  • Assessed Improvements Value: $65,379

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Dec 10, 2014
  • Current Sale Recording Date: Apr 08, 2015
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: R2015029051
  • Previous Sale Recording Date: Aug 15, 2008
  • Previous Sale Contract Date: Jul 15, 2008
  • Previous Sale Amount: $265,000
  • Previous Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: FIX
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 Frankfort

Stats & Trends

Median Asking:

$659,900

Sale Price/ft²

$218

Below Asking

0.01%

Average Days on Market

48

Average Home Size

3303 ft²

Average Home Age

30.2 years

Currently For Sale

65 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 19444 Wolf Road, Mokena, IL, 60448

$2,600 /mo

  • 3 Beds
  • 2 Baths
  • 1,800 ft²
19444 Wolf Road #4, Mokena, IL, 60448 Listing by Dave Shalabi

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Donna Jarvis, RE/MAX All Properties
Data Source: MRED, MLS# MRD06902781
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 Meadow Avenue built and last sold?
The property at 516 Meadow Avenue was built in 1971 and last sold on Dec 10, 2014 for $232,500.
How much is this home worth?
The estimated value of the home located at 516 Meadow Avenue is $272,599.
What are some comparable homes to 516 Meadow Avenue?
There are currently no comparable homes to 516 Meadow Avenue.
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