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Elgin 60120 Northeast Elgin
650 Ludlow Avenue
$225,000
● House - Off Market

650 Ludlow Avenue

Elgin, IL 60120
bedrooms
2 Beds
bathrooms
2 Baths
square feet
858 Ft²
$225,000
RealtyHop Estimate
0.00%
Since Dec 1, 2023
National-US
Primary Model

About This Property

2 BEDROOMS, 2 BATH, ENCLOSED FRONT PORCH, OFFICE, EAT IN KITCHEN, PARTLY FINISHED BASEMENT, LARGE 3 CAR BARN GARAGE WITH LOFT AREA, AS IS NEEDS UPDATING AND TLC.
Unit Size
858 Ft²
Days on Market
-
Land Size
-
Price per sqft
$262
Property Type
House
Property Taxes
$283
HOA Dues
-
Year Built
1923

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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 #11877110)

Price History

Date / Event Date Event Price
Nov 2, 2023 Sold
Premium
Sold
Sep 6, 2023 Listed by Century 21 New Heritage West $225,000
Listed by Century 21 New Heritage West

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1923
  • Effective Year Built: 1923
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 858
  • Garage Type: 4
  • Parking Space Count: 3
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,600
  • Lot Size Depth Feet: 1,320
  • Lot Size Frontage Feet: 500
  • Total Building Area: 1,716
  • Gross Building Area: 1,716
  • Building Area: 858
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 858
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LUDLOWS ADDN
  • Land Acres: 0000000152
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: LUDLOWS ADDN LOT 11 BLOCK 3

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 850800

Geography

  • Parcel: 06-12-229-011
  • Block: 3
  • Lot: 11
  • Municipality: ELGIN
  • Latitude: 42.058
  • Longitude: -88.2653

    Address

  • Full Address: 650 Ludlow Ave
  • Address - House Number: 650
  • Address - Street Name: Ludlow
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Elgin
  • Carrier Code: C008
  • 4-Digit Zip Code: 2477
  • Zip Code: 60120

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $340,126
  • Tax Rate Code Area: EL005

    Appraisal Valuation

  • Standard Deviation: 0.0879
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 92
  • Final Value: 221,783
  • High Value: 241,294
  • Low Value: 202,272

    Market Valuation

  • Market Total Value: $150,735
  • Market Land Value: $35,699
  • Market Improvement Value: $115,036

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $50,225
  • Assessed Land Value: $11,895
  • Assessed Improvements Value: $38,330

    Sales

  • Current Sale Contract Date: Nov 02, 2023
  • Current Sale Recording Date: Nov 03, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 38761
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 Northeast Elgin

Stats & Trends

Median Asking:

$307,450

Sale Price/ft²

$200

Below Asking

0.01%

Average Days on Market

43

Average Home Size

1689 ft²

Average Home Age

56.6 years

Currently For Sale

18 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 113 Elm Street, Elgin, IL, 60123

$1,900 /mo

  • 2 Beds
  • 1 Bath
  • 858 ft²
113 Elm Street #B, Elgin, IL, 60123 Listing by Natalie Kofie
Unit for rent at 40 Dupage Court, Elgin, IL, 60120

$2,075 /mo

  • 2 Beds
  • 2 Baths
  • 969 ft²
40 Dupage Court #409, Elgin, IL, 60120 Listing by Andrew Stoll

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Kaarin Mull, Century 21 New Heritage West
Last Updated: 3 years ago
Data Source: MRED, MLS# 11877110
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 650 Ludlow Avenue built and last sold?
The property at 650 Ludlow Avenue was built in 1923 and last sold on Nov 2, 2023 for $225,000.
How much is this home worth?
The estimated value of the home located at 650 Ludlow Avenue is $227,874.
What are some comparable homes to 650 Ludlow Avenue?
There are currently no comparable homes to 650 Ludlow Avenue.
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