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Summit 60501 Summit
7304 W 57th Street
$225,000
● House - Off Market

7304 W 57th Street

Summit, IL 60501
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,470 Ft²
$1,748
Est. Monthly
18.41%
Cap Rate

About This Property

4 bed/2 bath, 3-level brick single family home with a detached 2-car garage. The property sits on an extra-wide 40 ft lot. North/south exposures provide excellent natural light. The home is structurally solid, but in need of a full refresh. Newer detached 2-car detached garage, with the option to add a parking pad for a 3rd exterior parking space. 1st floor bathroom is currently non-functional. Kitchen wall can be opened up to create an open-concept living/dining space. 7 ft height basement could easily be converted to a rec room, workshop, fitness area, 5th and 6th bedrooms, or in-law suite. Updated brick homes in this area are selling for $350K+! Bring your contractors and your ideas - build out your new home just the way you want it! Property sold "as-is."
Unit Size
1,470 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$153
Property Type
House
Property Taxes
$642
HOA Dues
-
Year Built
1952

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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

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1952
  • Effective Year Built: 1952
  • 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: 12
  • Building Style: 3
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 150
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,920
  • Total Building Area: 1,272
  • Gross Building Area: 1,272
  • Building Area: 1,272
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 24
  • Heated Square Feet: 1,272
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: HARLEM HEIGHTS
  • Land Acres: 0000000113
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-03

Neighborhood

  • School District Name: Argo Community High School District 217
  • Census Tract: 820300

Geography

  • District: 21
  • Parcel: 18-13-212-061-0000
  • Block: 4,4
  • Lot: 37,36
  • Meridian: SEC 13 TWN 38N RNG 12E
  • Municipality: LYONS
  • Latitude: 41.7885
  • Longitude: -87.8042

    Address

  • Full Address: 7304 W 57th St
  • Address - House Number: 7304
  • Street Direction: W
  • Address - Street Name: 57th
  • Address - Suffix Type: St
  • State: IL
  • City Name: Summit Argo
  • Carrier Code: C002
  • 4-Digit Zip Code: 1322
  • Zip Code: 60501

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $681,523
  • Initial Tax Delinquent Year: 2021
  • Tax Rate Code Area: 21038

    Appraisal Valuation

  • Standard Deviation: 0.265
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 62
  • Final Value: 279,706
  • High Value: 353,850
  • Low Value: 205,562

    Market Valuation

  • Market Total Value: $220,000
  • Market Land Value: $35,670
  • Market Improvement Value: $184,330

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $22,000
  • Assessed Land Value: $3,567
  • Assessed Improvements Value: $18,433

    Sales

  • Current Sale Contract Date: Nov 07, 2014
  • Current Sale Recording Date: Nov 13, 2014
  • Current Sale Document Type: 64
  • Current Sale Input Document Number: 1431716028
  • Previous Sale Recording Date: Sep 14, 2004
  • Previous Sale Contract Date: May 27, 2004
  • Previous Sale Amount: $190,000
  • Previous Sale Document Type: 71
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 Summit

Stats & Trends

Median Asking:

$349,000

Sale Price/ft²

$216

Below Asking

0.01%

Average Days on Market

63

Average Home Size

1278 ft²

Average Home Age

80.7 years

Currently For Sale

12 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: Michael Kozuchowski, Century 21 S.G.R., Inc.
Data Source: MRED, MLS# MRD12366505
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 7304 West 57th Street built and last sold?
The property at 7304 West 57th Street was built in 1952 and last sold on Nov 7, 2014 for $0.
How much is this home worth?
The estimated value of the home located at 7304 West 57th Street is $0.
What are some comparable homes to 7304 West 57th Street?
There are currently no comparable homes to 7304 West 57th Street.
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