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Park Ridge 60068 Park Ridge
601 Florence Drive
$490,000
● House - Off Market

601 Florence Drive

Park Ridge, IL 60068
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
1,800 Ft²
$539,741
RealtyHop Estimate
8.16%
Since Feb 1, 2022
National-US
Primary Model

About This Property

This well cared for home has room for the entire family with large updated kitchen that is open to a large breakfast room with wood burning fireplace. Open dining room and living room have vaulted ceilings and hardwood floors gives plenty of room of family gatherings. Main bedroom with bath and walk in closet along with two additional bedrooms upstairs all have hardwood floors. Downstairs rec room has a wet bar half bath and a fourth bedroom or den. We are not done yet... The partially finished subbasement has an office, workshop, laundry room, and an open play room/family room. This home has many updates, roof is 2 years old, concrete front steps and concrete patio in backyard are 5 years old furnace and AC are less than 10 years old. Kitchen was updated with Oak cabinets, quartz countertops and barstool seating.
Unit Size
1,800 Ft²
Days on Market
-
Land Size
-
Price per sqft
$277
Property Type
House
Property Taxes
$849
HOA Dues
-
Year Built
1962

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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 #11268109)

Price History

Date / Event Date Event Price
Jan 28, 2022 Sold
Premium
Sold
Nov 16, 2021 Listed by Dream Town Realty $499,000
Listed by Dream Town Realty

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1962
  • Effective Year Built: 1962
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 41
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 0
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,792
  • Lot Size Depth Feet: 590
  • Lot Size Frontage Feet: 1,310
  • Total Building Area: 1,857
  • Gross Building Area: 1,857
  • Building Area: 1,857
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 1,857
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GOULD & COMPANYS
  • Land Acres: 0000000179
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-34
  • Legal Description 1: W E (GOULD) & (COMPANYS) RESUB PT OF FEUERBORN & KLOD ES FOREST VIEW SUB PT OF LYING S OF N 130 RDS WH NW SEC 27-41-12

Neighborhood

  • School District Name: Park Ridge Consolidated Community School District 64
  • Census Tract: 805801

Geography

  • District: 22
  • Parcel: 09-27-128-030-0000
  • Block: 2
  • Lot: 8
  • Meridian: SEC 27 TWN 41N RNG 12E
  • Municipality: MAINE
  • Latitude: 42.0177
  • Longitude: -87.8609

    Address

  • Full Address: 601 Florence Dr
  • Address - House Number: 601
  • Address - Street Name: Florence
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Park Ridge
  • Carrier Code: C020
  • 4-Digit Zip Code: 2101
  • Zip Code: 60068

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,112,640
  • Tax Rate Code Area: 22031

    Appraisal Valuation

  • Standard Deviation: 0.2284
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 68
  • Final Value: 569,821
  • High Value: 699,990
  • Low Value: 439,653

    Market Valuation

  • Market Total Value: $445,140
  • Market Land Value: $101,300
  • Market Improvement Value: $343,840

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $44,514
  • Assessed Land Value: $10,130
  • Assessed Improvements Value: $34,384

    Sales

  • Current Sale Contract Date: Jan 26, 2022
  • Current Sale Recording Date: Feb 04, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2203507306

    Financing

  • First Mortgage Financing Type: FIX
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 Park Ridge

Stats & Trends

Median Asking:

$600,000

Sale Price/ft²

$298

Below Asking

0.01%

Average Days on Market

43

Average Home Size

2093 ft²

Average Home Age

55.9 years

Currently For Sale

58 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 1419 E Lincoln Avenue, Des Plaines, IL, 60018

$3,750 /mo

  • 3 Beds
  • 2 Baths
  • 1,456 ft²
1419 E Lincoln Avenue, Des Plaines, IL, 60018 Listing by Sam Elddine
Unit for rent at 203 S Lincoln Avenue, Park Ridge, IL, 60068

$4,200 /mo

  • 3 Beds
  • 1 Bath
  • 2,146 ft²
203 S Lincoln Avenue, Park Ridge, IL, 60068 Listing by Jocelyn McGovern

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Craig Fallico, Dream Town Realty
Last Updated: 3 years ago
Data Source: MRED, MLS# 11268109
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 601 Florence Drive built and last sold?
The property at 601 Florence Drive was built in 1962 and last sold on Jan 26, 2022 for $490,000.
How much is this home worth?
The estimated value of the home located at 601 Florence Drive is $0.
What are some comparable homes to 601 Florence Drive?
There are currently no comparable homes to 601 Florence Drive.
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