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Palatine 60067
589 N Stephen Drive
$295,000
● House - Off Market

589 N Stephen Drive

Palatine, IL 60067
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,925 Ft²
$340,560
RealtyHop Estimate
13.52%
Since Oct 1, 2021
National-US
Primary Model

About This Property

This home is move-in ready! An additional lot means you have a super deep back yard! The upper level features 2 bedrooms, living room, eat in kitchen, and a full bath. The lower level has a family room, 2 more bedrooms, full bathroom, a mudroom, and a laundry/utility room. Enjoy easy access in the home using the front or back staircase! Brick patio and deep 1 car garage with storage overhead. New driveway 2020 ~ New Carpet 2021 ~ New Dishwasher 2021 ~ New Boiler installed 2016 ~ Roof Tear Off 2010. Convenient location near shopping and restaurants. *Multiple Parcels - Tax amount includes: 0000/$5,676.60, 0000/$1,072.99*
Unit Size
1,925 Ft²
Days on Market
-
Land Size
0.22 acres
Price per sqft
$156
Property Type
House
Property Taxes
$562
HOA Dues
-
Year Built
1963

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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 #11190188)

Price History

Date / Event Date Event Price
Sep 8, 2021 Sold
Premium
Sold
Aug 15, 2021 Listed by Baird & Warner $300,000
Listed by Baird & Warner

Property Highlights

Building Info

Overview

    General

  • Year Built: 1963
  • Effective Year Built: 1963
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 3
  • Exterior Walls Type: 17
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 0
  • Garage Type: 1
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,770
  • Total Building Area: 1,093
  • Gross Building Area: 1,093
  • Building Area: 1,093
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,093
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: JOANS GARDENS
  • Land Acres: 0000000224
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-03
  • Legal Description 1: (JOANS) (GARDENS) SUB OF PT OF WH NW SEC 15-42-10

Neighborhood

  • School District Name: Palatine Community Consolidated School District 15
  • Census Tract: 803701

Geography

  • District: 29
  • Parcel: 02-15-107-006-0000
  • Lot: 63
  • Meridian: SEC 15 TWN 42N RNG 10E
  • Municipality: PALATINE
  • Latitude: 42.1213
  • Longitude: -88.0589

    Address

  • Full Address: 589 N Stephen Dr
  • Address - House Number: 589
  • Street Direction: N
  • Address - Street Name: Stephen
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Palatine
  • Carrier Code: C060
  • 4-Digit Zip Code: 2349
  • Zip Code: 60067

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $773,296
  • Tax Rate Code Area: 29007

    Appraisal Valuation

  • Standard Deviation: 0.2283
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 68
  • Final Value: 333,059
  • High Value: 409,110
  • Low Value: 257,008

    Market Valuation

  • Market Total Value: $270,000
  • Market Land Value: $58,620
  • Market Improvement Value: $211,380

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $27,000
  • Assessed Land Value: $5,862
  • Assessed Improvements Value: $21,138

    Sales

  • Current Sale Contract Date: Sep 02, 2021
  • Current Sale Recording Date: Sep 23, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2126646010
  • Previous Sale Recording Date: Jun 20, 1994
  • Previous Sale Contract Date: Jun 01, 1994
  • Previous Sale Amount: $159,500
  • 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 Palatine

Stats & Trends

Median Asking:

$385,000

Sale Price/ft²

$235

Below Asking

0.01%

Average Days on Market

42

Average Home Size

1768 ft²

Average Home Age

43.9 years

Currently For Sale

110 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 605 W Gilbert Road, Palatine, IL, 60067

$3,750 /mo

  • 3 Beds
  • 2 Baths
  • 1,983 ft²
605 W Gilbert Road, Palatine, IL, 60067 Listing by Kim Alden
Unit for rent at 175 S Maple Street, Palatine, IL, 60067

$3,900 /mo

  • 3 Beds
  • 2 Baths
  • 1,130 ft²
175 S Maple Street, Palatine, IL, 60067 Listing by Peter Lee

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Beth Manzella, Baird & Warner
Last Updated: 3 years ago
Data Source: MRED, MLS# 11190188
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 589 North Stephen Drive built and last sold?
The property at 589 North Stephen Drive was built in 1963 and last sold on Sep 2, 2021 for $295,000.
How much is this home worth?
The estimated value of the home located at 589 North Stephen Drive is $312,217.
What are some comparable homes to 589 North Stephen Drive?
There are currently no comparable homes to 589 North Stephen Drive.
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