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Elgin 60123 Valley Creek Southwest
531 madison Lane
$309,000
● House - Off Market

531 madison Lane

Elgin, IL 60123
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,092 Ft²
$497,528
RealtyHop Estimate
60.54%
Since Jul 1, 2017
National-US
Primary Model

About This Property

NEW CUSTOM RANCH. All maintenance of building exterior and grounds by association. White 4 1/4 " casing and base wood trim. White kitchen with soft close cabinet doors and drawers 42" upper cabinets with granite counter tops and hardwood floors. 9' ceilings throughout. Butler pantry with granite top. Custom mantle around fireplace.  Master bath with double bowel granite top, ceramic walk in shower, ceramic surround soaking tub, walk in closet. Hardwood floors in living room, dining room, kitchen, eating area. Rheem 95% furnace, 3 ton air conditioner. 2x6 framed walls. Knauf insulation  Energy Star and GREENGUARD CETIFIED. Full lookout basement. Landscaped and sodded yard. 1st. floor laundry room with upper cabinets and utility sink ceramic floors. Can lights throughout.
Unit Size
2,092 Ft²
Days on Market
-
Land Size
-
Price per sqft
$148
Property Type
House
Property Taxes
-
HOA Dues
$197
Year Built
-

Payment Calculator

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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: 3 years ago (MRED MLS #09610370)

Price History

Date / Event Date Event Price
Jun 29, 2017 Sold
Premium
Sold
Apr 29, 2017 Listed by Charles Miller Realty $309,900
Listed by Charles Miller Realty

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,792
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: E
  • Subdivision: MADISON HOMES OF ELGIN SUB
  • Land Acres: 0000000110
  • Standard Land Use Code: 9000
  • County Land Use Code: 8000
  • State Land Use Code: 0090
  • Legal Description 1: MADISON HOMES OF ELGIN SUB LOT 12

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 851909

Geography

  • Parcel: 06-09-453-063
  • Lot: 12
  • Municipality: ELGIN
  • Latitude: 42.0442
  • Longitude: -88.3304

    Address

  • Full Address: 531 Madison Ln
  • Address - House Number: 531
  • Address - Street Name: Madison
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Elgin
  • Carrier Code: C077
  • 4-Digit Zip Code: 2537
  • Zip Code: 60123

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $0
  • Tax Rate Code Area: EL016

    Market Valuation

  • Market Total Value: $255,801
  • Market Land Value: $63,069
  • Market Improvement Value: $192,732

    Assessments Valuation

  • Assessed Year: 2022

    Sales

  • Current Sale Contract Date: May 01, 2018
  • Current Sale Recording Date: May 03, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2018K020328
  • Previous Sale Recording Date: Jul 06, 2017
  • Previous Sale Contract Date: Jun 29, 2017
  • Previous Sale Amount: $309,000
  • 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 Northwest Elgin

Stats & Trends

Median Asking:

$369,900

Sale Price/ft²

$201

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1631 ft²

Average Home Age

43.5 years

Currently For Sale

39 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 801 N Mclean Boulevard, Elgin, IL, 60123

$2,685 /mo

  • 1 Bed
  • 1 Bath
  • 750 ft²
801 N Mclean Boulevard #146, Elgin, IL, 60123 Listing by Ryan Widerberg

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: , Charles Miller Realty
Last Updated: 3 years ago
Data Source: MRED, MLS# 09610370
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 531 Madison Lane built and last sold?
The property at 531 Madison Lane was built in and last sold on May 1, 2018 for $319,000.
How much is this home worth?
The estimated value of the home located at 531 Madison Lane is $0.
What are some comparable homes to 531 Madison Lane?
There are currently no comparable homes to 531 Madison Lane.
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