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Aurora 60506 Near West Galena
531 Palace Street
$178,000
● House - Off Market

531 Palace Street

AURORA, IL 60506
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,440 Ft²
$302,149
RealtyHop Estimate
69.75%
Since Jul 1, 2016
National-US
Primary Model

About This Property

Charming home in a Historic area. Arched porch opens to large foyer entry. Oak flooring, Remodeled kitchen with all the upgrades of today. Large master suite and ample size 2nd and 3rd bedroom. First floor features entertainment size living room with woodburning fireplace and bonus room which is a great sunroom.  The dining room can accommodate large gatherings. The basement is finished with another family room and a separate den. Full bath in basement and a huge room for storage and laundry utility area. If you love the outdoors you will enjoy sitting on the back porch area overlooking fenced in yard. A 2 1/2 detached garage with extra storage is a huge bonus. Come take a look you will be impressed.
Unit Size
1,440 Ft²
Days on Market
-
Land Size
0.17 acres
Price per sqft
$124
Property Type
House
Property Taxes
$289
HOA Dues
-
Year Built
1927

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Cap Rate Calculator

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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
Garage

Building Info

Overview

    General

  • Year Built: 1927
  • Effective Year Built: 1927
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 720
  • Garage Type: 1
  • Garage Square Area: 528
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 77
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,560
  • Lot Size Depth Feet: 1,440
  • Lot Size Frontage Feet: 525
  • Total Building Area: 2,688
  • Gross Building Area: 2,796
  • Building Area: 1,440
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,440
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: ILL AV-W PARK-LAKE-GRAND
  • Land Acres: 0000000174
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: DAVIDS ADDN : LOT 7 BLOCK 4 LOT DIMENSIONS: 52.5 X 144 APPROX LOT SQ FT 7560 SUBDIVISION: ILL AV-W PARK-LAKE-GRAND RANGE CODE: 001

Neighborhood

  • School District Name: Aurora West Unit School District 129
  • Census Tract: 853200

Geography

  • Parcel: 15-15-353-017
  • Block: 4
  • Lot: 7
  • Municipality: AURORA
  • Latitude: 41.7683
  • Longitude: -88.3179

    Address

  • Full Address: 531 Palace St
  • Address - House Number: 531
  • Address - Street Name: Palace
  • Address - Suffix Type: St
  • State: IL
  • City Name: Aurora
  • Carrier Code: C015
  • 4-Digit Zip Code: 3015
  • Zip Code: 60506

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $504,836
  • Tax Rate Code Area: AU102

    Appraisal Valuation

  • Standard Deviation: 0.1607
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 79
  • Final Value: 265,701
  • High Value: 308,405
  • Low Value: 222,996

    Market Valuation

  • Market Total Value: $187,209
  • Market Land Value: $23,352
  • Market Improvement Value: $163,857

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $62,378
  • Assessed Land Value: $7,781
  • Assessed Improvements Value: $54,597

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jun 17, 2016
  • Current Sale Recording Date: Jun 24, 2016
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2016K032043
  • Previous Sale Recording Date: Nov 02, 2015
  • Previous Sale Contract Date: Oct 14, 2015
  • Previous Sale Amount: $166,000
  • 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 Near West Galena

Stats & Trends

Median Asking:

$279,900

Sale Price/ft²

$196

Below Asking

0.02%

Average Days on Market

51

Average Home Size

1184 ft²

Average Home Age

114 years

Currently For Sale

4 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: Joan Ruud, RE/MAX Unlimited Northwest
Data Source: MRED, MLS# MRD09159169
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 Palace Street built and last sold?
The property at 531 Palace Street was built in 1927 and last sold on Jun 17, 2016 for $178,000.
How much is this home worth?
The estimated value of the home located at 531 Palace Street is $180,813.
What are some comparable homes to 531 Palace Street?
There are currently no comparable homes to 531 Palace Street.
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