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Joliet 60436 Reedwood
517 PROSPECT Place
$31,000
● House - Off Market

517 PROSPECT Place

JOLIET, IL 60436
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,491 Ft²
$72,692
RealtyHop Estimate
124.36%
Since Apr 1, 2012
National-US
Primary Model

About This Property

3 BEDROOM HOME WITH BASEMENT AND 2 CAR GARAGE.  FEATURES: FRONT PORCH, UPDATED BATH, CLOSE TO WEST PARK. PRE-APPROVAL LETTER OR PROOF OF FUNDS REQUIRED WITH ALL OFFERS. BUYER RESPONSIBLE FOR TERMITE INSPECTION AND SURVEY. TAXES PRORATED AT 100% OF THE LATEST BILL
Unit Size
1,491 Ft²
Days on Market
-
Land Size
-
Price per sqft
$22
Property Type
House
Property Taxes
$274
HOA Dues
-
Year Built
1927

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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: 1927
  • Effective Year Built: 1927
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 3
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 150
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 4
  • Garage Square Area: 484
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,850
  • Lot Size Depth Feet: 1,300
  • Lot Size Frontage Feet: 450
  • Total Building Area: 1,740
  • Building Area: 1,740
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 24
  • Heated Square Feet: 1,740
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MILLBORO
  • Land Acres: 0000000130
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: LOT 9 BLOCK 7 IN MILLBORO, BEING A SUB OF PRT OF THE E1/2 OF THE SE1/4 OF SEC 17, T35N-R10E.

Neighborhood

  • School District Name: Joliet Public School District 86
  • Census Tract: 882602

Geography

  • Parcel: 30-07-17-414-022
  • Block: 7
  • Lot: 9
  • Meridian: SEC 17 TWN 35N RNG 10E
  • Municipality: JOLIET
  • Latitude: 41.5133
  • Longitude: -88.1028

    Address

  • Full Address: 517 Prospect Pl
  • Address - House Number: 517
  • Address - Street Name: Prospect
  • Address - Suffix Type: Pl
  • State: IL
  • City Name: Joliet
  • Carrier Code: C054
  • 4-Digit Zip Code: 2023
  • Zip Code: 60436

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $562,576
  • Initial Tax Delinquent Year: 2021
  • Tax Rate Code Area: 3011

    Appraisal Valuation

  • Standard Deviation: 0.1774
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 77
  • Final Value: 235,521
  • High Value: 277,305
  • Low Value: 193,737

    Market Valuation

  • Market Total Value: $182,751
  • Market Land Value: $18,906
  • Market Improvement Value: $163,845

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $60,917
  • Assessed Land Value: $6,302
  • Assessed Improvements Value: $54,615

    Sales

  • Current Sale Contract Date: Jan 31, 2024
  • Current Sale Recording Date: Feb 08, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 6461
  • Previous Sale Recording Date: Apr 25, 2023
  • Previous Sale Contract Date: Apr 17, 2023
  • Previous Sale Amount: $60,000
  • 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 Reedwood

Stats & Trends

Median Asking:

$250,000

Sale Price/ft²

$201

Below Asking

0.01%

Average Days on Market

41

Average Home Size

1637 ft²

Average Home Age

74.8 years

Currently For Sale

5 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 307 Stone Street, Joliet, IL, 60435

$2,250 /mo

  • 3 Beds
  • 1 Bath
  • 1,000 ft²
307 Stone Street #1A, Joliet, IL, 60435 Listing by Jeff Jakob
Unit for rent at 121 Davis Avenue, Rockdale, IL, 60436

$1,895 /mo

  • 3 Beds
  • 1 Bath
  • 1,196 ft²
121 Davis Avenue #1, Rockdale, IL, 60436 Listing by Joseph Diaz

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: James Conway, Regional Realty Group
Data Source: MRED, MLS# MRD07993545
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 517 Prospect Place built and last sold?
The property at 517 Prospect Place was built in 1927 and last sold on Jan 31, 2024 for $200,000.
How much is this home worth?
The estimated value of the home located at 517 Prospect Place is $0.
What are some comparable homes to 517 Prospect Place?
There are currently no comparable homes to 517 Prospect Place.
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