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Morris 60450
623 1st Avenue
$200,000
● House - Off Market

623 1st Avenue

Morris, IL 60450
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,064 Ft²
$1,364
Est. Monthly
11.68%
Cap Rate

About This Property

Multiple offers received highest and best due by Friday at 9pm and will be reviewing all on Saturday.  We are giving a $2000 allowance for flooring. 1064 sq ft ranch home located in a quiet cul de sac. 3 bedroom with 2 full baths. Eat in kitchen with lots of cabinets. Nice living room. 3 bedrooms and 1 full bath complete the main level. Full basement with another full bath. Lots of storage! Basement was Perma sealed in 2012. Fenced back yard. Attached 1 car garage and detached 2 car garage with access on the alley.  Needs some TLC. Fenced yard.
Unit Size
1,064 Ft²
Days on Market
-
Land Size
-
Price per sqft
$202
Property Type
House
Property Taxes
$308
HOA Dues
-
Year Built
1965

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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 #11990093)

Price History

Date / Event Date Event Price
May 20, 2024 Sold
Premium
Sold
Apr 1, 2024 Listed by Century 21 Coleman-Hornsby $214,900
Listed by Century 21 Coleman-Hornsby

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1965
  • Effective Year Built: 1965
  • Building Count: 2
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,454
  • Total Building Area: 1,064
  • Gross Building Area: 1,064
  • Building Area: 1,064
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,064
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: VILAND & MCELVAIN SUBDIVISION
  • Land Acres: 0000000240
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: VILAND & MCELVAIN SUB W30' LT 3 & ALL LT 4 BLK 2 SEC 3-33-7

Neighborhood

  • School District Name: Morris School District 54
  • Census Tract: 000300

Geography

  • District: 12
  • Parcel: 05-03-160-005
  • Block: 2
  • Lot: 3-4
  • Meridian: SEC 03 TWN 33N RNG 07W
  • Municipality: MORRIS TOWNSHIP
  • Latitude: 41.3656
  • Longitude: -88.4179

    Address

  • Full Address: 623 1st Ave
  • Address - House Number: 623
  • Address - Street Name: 1st
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Morris
  • Carrier Code: C005
  • 4-Digit Zip Code: 1931
  • Zip Code: 60450

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $455,428
  • Tax Rate Code Area: 12051

    Appraisal Valuation

  • Standard Deviation: 0.1812
  • Valuation Date: Mar 27, 2024
  • Confidence Score: 76
  • Final Value: 202,221
  • High Value: 238,865
  • Low Value: 165,577

    Market Valuation

  • Market Total Value: $174,576
  • Market Land Value: $42,621
  • Market Improvement Value: $131,955

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $58,192
  • Assessed Land Value: $14,207
  • Assessed Improvements Value: $43,985

    Exemptions

  • Homeowner Exemption: Yes
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 Morris

Stats & Trends

Median Asking:

$303,500

Sale Price/ft²

$173

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1998 ft²

Average Home Age

61.7 years

Currently For Sale

25 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: JoEllyn Johnson, Century 21 Coleman-Hornsby
Last Updated: 3 years ago
Data Source: MRED, MLS# 11990093
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 623 1st Avenue built and last sold?
The property at 623 1st Avenue was built in 1965 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 623 1st Avenue is $215,918.
What are some comparable homes to 623 1st Avenue?
There are currently no comparable homes to 623 1st Avenue.
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