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Gurnee 60031 Westgate
5848 Hancock Lane
$286,000
● House - Off Market

5848 Hancock Lane

Gurnee, IL 60031
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,494 Ft²
$285,441
RealtyHop Estimate
2.31%
Since Aug 1, 2022
National-US
Primary Model

About This Property

Single level well maintained 3 bed, 2 bath in the desirable community of Westgate Ranch in Gurnee. Possible 4th bedroom in partially finished basement with huge walk-in closet. DR/LV Combo. Eat-in Kitchen with wood cabinets, double sink and newer appliances. Bonus room off patio doors to backyard and finished wood deck great for entertaining. Top-rated schools. Seconds from your local park and minutes from the tollway, shopping, dining, and Six-Flags. No HOA. Being sold as-is.  Priced to sell. Vacant. Easy to show.
Unit Size
1,494 Ft²
Days on Market
-
Land Size
-
Price per sqft
$187
Property Type
House
Property Taxes
$548
HOA Dues
-
Year Built
1988

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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.

Last updated: 3 years ago (MRED MLS #11428753)

Price History

Date / Event Date Event Price
Jul 25, 2022 Sold
Premium
Sold
Jun 10, 2022 Listed by Coldwell Banker Realty $279,000
Listed by Coldwell Banker Realty

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1988
  • Effective Year Built: 1988
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Bathroom Plumbing Fixtures: 6
  • Building Condition: 6
  • Building Quality: 4
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 3
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,254
  • Garage Type: 1
  • Garage Square Area: 400
  • Parking Space Count: 2
  • Patio Type: 3
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,426
  • Total Building Area: 3,148
  • Gross Building Area: 3,148
  • Building Area: 1,494
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,494
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: WESTGATE UNIT 2
  • Land Acres: 0000000216
  • Standard Land Use Code: 1001
  • County Land Use Code: 40
  • Legal Description 1: WESTGATE UNIT 2; LOT 172

Neighborhood

  • School District Name: Warren Township High School District 121
  • Census Tract: 861505

Geography

  • Assessors Map Reference: 2477-E4
  • District: WARREN
  • Parcel: 07-09-407-010
  • Lot: 172
  • Municipality: TWP OF WARREN
  • Latitude: 42.3904
  • Longitude: -87.9471

    Address

  • Full Address: 5848 Hancock Ln
  • Legal Unit: 2
  • Address - House Number: 5848
  • Address - Street Name: Hancock
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Gurnee
  • Carrier Code: C012
  • 4-Digit Zip Code: 6303
  • Zip Code: 60031

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $752,996
  • Tax Rate Code Area: 8042

    Appraisal Valuation

  • Standard Deviation: 0.1705
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 78
  • Final Value: 317,869
  • High Value: 372,078
  • Low Value: 263,661

    Market Valuation

  • Market Total Value: $286,033
  • Market Land Value: $42,802
  • Market Improvement Value: $243,231

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $95,335
  • Assessed Land Value: $14,266
  • Assessed Improvements Value: $81,069

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jul 12, 2022
  • Current Sale Recording Date: Aug 30, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 7929634
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 Westgate

Stats & Trends

Median Asking:

$450,000

Sale Price/ft²

$180

Below Asking

0.01%

Average Days on Market

39

Average Home Size

2819 ft²

Average Home Age

38 years

Currently For Sale

1 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 1434 Sherwood Court, Gurnee, IL, 60031

$2,800 /mo

  • 3 Beds
  • 2 Baths
  • 1,768 ft²
1434 Sherwood Court, Gurnee, IL, 60031 Listing by Barbara Noote

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Jill Dana Kellogg, Coldwell Banker Realty
Last Updated: 3 years ago
Data Source: MRED, MLS# 11428753
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 5848 Hancock Lane built and last sold?
The property at 5848 Hancock Lane was built in 1988 and last sold on Jul 12, 2022 for $286,000.
How much is this home worth?
The estimated value of the home located at 5848 Hancock Lane is $0.
What are some comparable homes to 5848 Hancock Lane?
There are currently no comparable homes to 5848 Hancock Lane.
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