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Elgin 60123 Southwest Elgin
621 VAN Street
$359,000
● House - Off Market

621 VAN Street

Elgin, IL 60123
bedrooms
5 Beds
bathrooms
3 Baths
square feet
2,776 Ft²
$2,427
Est. Monthly
10.48%
Cap Rate

About This Property

Majestic and charming home on a corner lot, full of natural light. Mature trees for shade and privacy. New double hung vinyl windows for energy efficiency. Large picture windows with views of the landscaped yard. Dining room with built-ins. Stainless steel kitchen appliances. Large bedrooms with original hardwood floors. Main Floor Primary with private bath and plenty of storage. Additional bedroom/mother-in-law suite with fully renovated bathroom and subway tile on main level. Large LR w/Fireplace. Sunroom & Home office provide multiple work from home options.  Garage equipped with electric car charger (J1772 40-amp L2 EVSE car charger with 24 foot cable). Tons of character and unique mid-century features (incl. pocket doors, cedar closets, laundry chutes). A MUST SEE HOME!
Unit Size
2,776 Ft²
Days on Market
-
Land Size
-
Price per sqft
$129
Property Type
House
Property Taxes
$663
HOA Dues
-
Year Built
1948

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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 #12038154)

Price History

Date / Event Date Event Price
Jun 18, 2024 Sold
Premium
Sold
May 1, 2024 Listed by Redfin Corporation $359,000
Listed by Redfin Corporation

Property Highlights

Fireplace

Building Info

Overview

    General

  • Year Built: 1948
  • Effective Year Built: 1948
  • Building Count: 1
  • Total Rooms: 11
  • Bedroom Count: 5
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 2
  • 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: 1,783
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 13,200
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 1,320
  • Total Building Area: 4,559
  • Gross Building Area: 4,559
  • Building Area: 2,776
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 2,776
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: OAK RIDGE ADDN
  • Land Acres: 0000000303
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: OAK RIDGE ADDN LOTS 14 & 13 BLOCK 7

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 851101

Geography

  • Parcel: 06-14-378-001
  • Block: 7
  • Lot: 14,13
  • Municipality: ELGIN
  • Latitude: 42.0332
  • Longitude: -88.2949

    Address

  • Full Address: 621 Van St
  • Address - House Number: 621
  • Address - Street Name: Van
  • Address - Suffix Type: St
  • State: IL
  • City Name: Elgin
  • Carrier Code: C059
  • 4-Digit Zip Code: 6239
  • Zip Code: 60123

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $795,966
  • Tax Rate Code Area: EL005

    Appraisal Valuation

  • Standard Deviation: 0.1561
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 80
  • Final Value: 390,849
  • High Value: 451,897
  • Low Value: 329,801

    Market Valuation

  • Market Total Value: $293,502
  • Market Land Value: $52,296
  • Market Improvement Value: $241,206

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $97,795
  • Assessed Land Value: $17,425
  • Assessed Improvements Value: $80,370

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: May 20, 2013
  • Current Sale Recording Date: May 24, 2013
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2013K038684

    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 Southwest Elgin

Stats & Trends

Median Asking:

$299,896

Sale Price/ft²

$203

Below Asking

0.01%

Average Days on Market

43

Average Home Size

1860 ft²

Average Home Age

54.4 years

Currently For Sale

15 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: Derick Creasy, Redfin Corporation
Last Updated: 3 years ago
Data Source: MRED, MLS# 12038154
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 621 Van Street built and last sold?
The property at 621 Van Street was built in 1948 and last sold on May 20, 2013 for $200,000.
How much is this home worth?
The estimated value of the home located at 621 Van Street is $362,590.
What are some comparable homes to 621 Van Street?
There are currently no comparable homes to 621 Van Street.
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