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Ottawa 61350
740 3rd Avenue
$168,000
● House - Off Market

740 3rd Avenue

Ottawa, IL 61350
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,040 Ft²
$159,563
RealtyHop Estimate
-0.27%
Since Aug 1, 2023
National-US
Primary Model

About This Property

Well-maintained 3 bedroom home located on a large corner lot. Entering the home you are welcomed in by a spacious living room featuring a large picture window perfect for allowing in plenty of natural light. Next you find a galley kitchen with table space, 3 main level bedrooms with spacious closets, a main level full bathroom, and a whole house fan. Enjoy the sun year round in the newly remodeled and heated sunroom highlighted by a fireplace. The partially finished full basement and the attached 1.5 car garage allow for plenty of storage space. Outside you will find a storage shed, new landscaping, and a basketball hoop. See for yourself all the charm this home has!
Unit Size
1,040 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$154
Property Type
House
Property Taxes
$362
HOA Dues
-
Year Built
1953

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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 #11801584)

Price History

Date / Event Date Event Price
Jul 25, 2023 Sold
Premium
Sold
Jun 7, 2023 Listed by Chismarick Realty, LLC $160,000
Listed by Chismarick Realty, LLC

Property Highlights

Fireplace

Building Info

Overview

    General

  • Year Built: 1953
  • Effective Year Built: 1953
  • 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: 8,712
  • Total Building Area: 1,040
  • Gross Building Area: 1,040
  • Building Area: 1,040
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,040
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GOETSCHS SUB
  • Land Acres: 0000000200
  • Standard Land Use Code: 1999
  • County Land Use Code: 0040
  • Legal Description 1: GOETSCH'S SUBD OF LOTS 11-12 OF SUBD W 1/2 NW 1/4 SEC 13 LOT 6 BLK 3

Neighborhood

  • School District Name: Ottawa Elementary School District 141
  • Census Tract: 963600

Geography

  • District: SO
  • Section: 13
  • Parcel: 22-13-135-001
  • Block: 3
  • Lot: 11-6
  • Municipality: SOUTH OTTAWA TOWNSHIP
  • Latitude: 41.3321
  • Longitude: -88.8339

    Address

  • Full Address: 740 3rd Ave
  • Address - House Number: 740
  • Address - Street Name: 3rd
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Ottawa
  • Carrier Code: C011
  • 4-Digit Zip Code: 4057
  • Zip Code: 61350

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $0
  • Tax Rate Code Area: SO001

    Appraisal Valuation

  • Standard Deviation: 0.1069
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 89
  • Final Value: 155,408
  • High Value: 172,032
  • Low Value: 138,784

    Market Valuation

  • Market Total Value: $139,794
  • Market Land Value: $26,826
  • Market Improvement Value: $112,968

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $46,598
  • Assessed Land Value: $8,942
  • Assessed Improvements Value: $37,656

    Sales

  • Current Sale Contract Date: Jul 27, 2023
  • Current Sale Recording Date: Jul 28, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 4
  • Current Sale Input Document Number: 2023-07597
  • Previous Sale Recording Date: Jun 22, 2006
  • Previous Sale Contract Date: Jun 21, 2006
  • Previous Sale Amount: $125,000
  • Previous Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: VAR
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 Ottawa

Stats & Trends

Median Asking:

$229,700

Sale Price/ft²

$157

Below Asking

0.02%

Average Days on Market

52

Average Home Size

1826 ft²

Average Home Age

58.7 years

Currently For Sale

63 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: Patrick Chismarick, Chismarick Realty, LLC
Last Updated: 3 years ago
Data Source: MRED, MLS# 11801584
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 740 3rd Avenue built and last sold?
The property at 740 3rd Avenue was built in 1953 and last sold on Jul 27, 2023 for $168,000.
How much is this home worth?
The estimated value of the home located at 740 3rd Avenue is $0.
What are some comparable homes to 740 3rd Avenue?
There are currently no comparable homes to 740 3rd Avenue.
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