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Summit 60501 Summit
7309 W 62nd Place
$384,900
● House - Off Market

7309 W 62nd Place

Summit, IL 60501
bedrooms
4 Beds
bathrooms
3 Baths
square feet
2,088 Ft²
$2,688
Est. Monthly
9.36%
Cap Rate

About This Property

Be the second owner of this bright and spacious home built in 2012. That's right, only 12 years old! Perfect for a small or big family. This beauty is very well-kept offering 4 bedrooms plus 2 additional bedrooms in the basement, 3 bathrooms, high ceilings, hardwood floors, wood & gas fireplace, large living room, open kitchen with an island, granite countertops, family room, tons of storage space, 2.5 car garage, and fenced yard. Conveniently located near schools, restaurants, bars, stores, near I55, and much more. Furnace & AC unit are 12 years old with yearly maintenance / Water tank was replaced last year / One of the sump pumps is 3 years old / Second sump pump is a year old / Roof 2012 / windows 2012
Unit Size
2,088 Ft²
Days on Market
-
Land Size
-
Price per sqft
$184
Property Type
House
Property Taxes
$798
HOA Dues
-
Year Built
2010

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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 #11959071)

Price History

Date / Event Date Event Price
Mar 21, 2024 Sold
Premium
Sold
Jan 9, 2024 Listed by 606 Brokers LLC $384,900
Listed by 606 Brokers LLC

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2010
  • Effective Year Built: 2010
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 60
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 2
  • Patio Type: 20
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,510
  • Lot Size Depth Feet: 1,170
  • Lot Size Frontage Feet: 300
  • Total Building Area: 2,025
  • Gross Building Area: 2,025
  • Building Area: 2,025
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 2,025
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FREDERICK H BARTLETTS ARGO PARK SUB S
  • Land Acres: 0000000081
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-78

Neighborhood

  • School District Name: Argo Community High School District 217
  • Census Tract: 820400

Geography

  • District: 21
  • Parcel: 18-13-429-016-0000
  • Lot: 251
  • Meridian: SEC 13 TWN 38N RNG 12E
  • Municipality: LYONS
  • Latitude: 41.7778
  • Longitude: -87.804

    Address

  • Full Address: 7309 W 62nd Pl
  • Address - House Number: 7309
  • Street Direction: W
  • Address - Street Name: 62nd
  • Address - Suffix Type: Pl
  • State: IL
  • City Name: Summit Argo
  • Carrier Code: C007
  • 4-Digit Zip Code: 1709
  • Zip Code: 60501

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $957,154
  • Tax Rate Code Area: 21038

    Appraisal Valuation

  • Standard Deviation: 0.1007
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 90
  • Final Value: 374,020
  • High Value: 411,706
  • Low Value: 336,334

    Market Valuation

  • Market Total Value: $310,000
  • Market Land Value: $25,450
  • Market Improvement Value: $284,550

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $31,000
  • Assessed Land Value: $2,545
  • Assessed Improvements Value: $28,455

    Sales

  • Current Sale Contract Date: Mar 01, 2024
  • Current Sale Recording Date: Mar 27, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 20109
  • Previous Sale Recording Date: Feb 28, 2013
  • Previous Sale Contract Date: Feb 19, 2013
  • Previous Sale Amount: $206,000
  • 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

62

Average Home Size

1420 ft²

Average Home Age

76.7 years

Currently For Sale

10 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: Isrrael Morales, 606 Brokers LLC
Last Updated: 3 years ago
Data Source: MRED, MLS# 11959071
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 7309 West 62nd Place built and last sold?
The property at 7309 West 62nd Place was built in 2010 and last sold on Mar 1, 2024 for $385,000.
How much is this home worth?
The estimated value of the home located at 7309 West 62nd Place is $0.
What are some comparable homes to 7309 West 62nd Place?
There are currently no comparable homes to 7309 West 62nd Place.
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