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Park Forest 60466
71 Cherry Street
$165,000
● House - Off Market

71 Cherry Street

Park Forest, IL 60466
bedrooms
2 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,500 Ft²
$1,401
Est. Monthly
11.87%
Cap Rate

About This Property

Charming 2-bedroom, 1.5-bath ranch in the heart of Park Forest! This cozy home features an inviting eat-in kitchen with stainless steel appliances, a stylish backsplash, and brand-new commercial-grade laminate countertops. The spacious family room boasts a beautiful brick wood-burning fireplace, perfect for cozy nights in. Recent updates include newer windows, roof-2020 a concrete walkway to the garage, a new boiler system motor, a new A/C wall unit, fresh carpet, and new vinyl flooring. The freshly painted interior makes this home move-in ready! Step outside to a fully fenced yard with a brand-new privacy fence-your own peaceful retreat. Don't miss this one!   **As Is**
Unit Size
1,500 Ft²
Days on Market
-
Land Size
-
Price per sqft
$110
Property Type
House
Property Taxes
$591
HOA Dues
-
Year Built
1951

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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.

Property Highlights

Parking Available
Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1951
  • Effective Year Built: 1951
  • Building Count: 1
  • Total Rooms: 6
  • 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: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,500
  • Lot Size Depth Feet: 1,250
  • Lot Size Frontage Feet: 600
  • Total Building Area: 1,427
  • Gross Building Area: 1,427
  • Building Area: 1,427
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 24
  • Heated Square Feet: 1,427
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: VILLAGE OF PARK FOREST AREA2
  • Land Acres: 0000000172
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-03
  • Legal Description 1: (VILLAGE) OF PARK (FOREST) (AREA2) SUB IN SEC 36-35-13

Neighborhood

  • School District Name: Rich Township High School District 227
  • Census Tract: 830300

Geography

  • District: 32
  • Parcel: 31-36-201-006-0000
  • Block: 14
  • Lot: 6
  • Meridian: SEC 36 TWN 35N RNG 13E
  • Municipality: RICH
  • Latitude: 41.4782
  • Longitude: -87.6804

    Address

  • Full Address: 71 Cherry St
  • Address - House Number: 71
  • Address - Street Name: Cherry
  • Address - Suffix Type: St
  • State: IL
  • City Name: Park Forest
  • Carrier Code: C004
  • 4-Digit Zip Code: 2009
  • Zip Code: 60466

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $318,771
  • Tax Rate Code Area: 32021

    Appraisal Valuation

  • Standard Deviation: 0.2649
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 62
  • Final Value: 135,314
  • High Value: 171,170
  • Low Value: 99,458

    Market Valuation

  • Market Total Value: $130,000
  • Market Land Value: $26,250
  • Market Improvement Value: $103,750

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $13,000
  • Assessed Land Value: $2,625
  • Assessed Improvements Value: $10,375

    Sales

  • Current Sale Contract Date: Dec 05, 2013
  • Current Sale Recording Date: Jan 14, 2014
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 1401457043
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 Forest

Stats & Trends

Median Asking:

$165,000

Sale Price/ft²

$129

Below Asking

0.03%

Average Days on Market

56

Average Home Size

1458 ft²

Average Home Age

70.2 years

Currently For Sale

128 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 173 Nauvoo Street, Park Forest, IL, 60466

$2,200 /mo

  • 3 Beds
  • 1 Bath
  • 1,284 ft²
173 Nauvoo Street, Park Forest, IL, 60466 Listing by Rishab Chawla

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Jaclyn D'Andrea, Exclusive Realtors
Data Source: MRED, MLS# MRD12458034
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 71 Cherry Street built and last sold?
The property at 71 Cherry Street was built in 1951 and last sold on Dec 5, 2013 for $57,000.
How much is this home worth?
The estimated value of the home located at 71 Cherry Street is $167,606.
What are some comparable homes to 71 Cherry Street?
There are currently no comparable homes to 71 Cherry Street.
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