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Joliet 60586
7506 Locust Lane
$305,000
● House - Off Market

7506 Locust Lane

Plainfield, IL 60586
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
1,850 Ft²
$342,188
RealtyHop Estimate
14.44%
Since Sep 1, 2021
National-US
Primary Model

About This Property

You CANNOT wait to tour this home. This price point in this area??? It's going to be sold quick! Talk about "bang for your buck".... 4 bedroom, 2.5 bathroom with spacious primary bedroom suite, great first floor flow, amazing backyard with a tons of room and fresh landscaping, and a FULL BASEMENT with loads of storage!!! Don't let this home slip by without taking your chance to see it. Schedule your private showing today!
Unit Size
1,850 Ft²
Days on Market
-
Land Size
0.19 acres
Price per sqft
$162
Property Type
House
Property Taxes
$452
HOA Dues
$25
Year Built
-

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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 #11149206)

Price History

Date / Event Date Event Price
Aug 24, 2021 Sold
Premium
Sold
Jul 15, 2021 Listed by Redfin Corporation $299,000
Listed by Redfin Corporation

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • 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: 8,141
  • Lot Size Depth Feet: 1,250
  • Lot Size Frontage Feet: 650
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: AUTUMN FIELDS SUB
  • Land Acres: 0000000187
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: LT 177 AUTUMN FIELDS SUB UNIT 1 CITY OF JOLIET

Neighborhood

  • School District Name: Plainfield School District 202
  • Census Tract: 890702

Geography

  • Assessors Map Reference: 3415-A6
  • Parcel: 06-25-375-002
  • Lot: 177
  • Municipality: NA-AU-SAY TOWNSHIP
  • Latitude: 41.5664
  • Longitude: -88.267

    Address

  • Full Address: 7506 Locust Ln
  • Address - House Number: 7506
  • Address - Street Name: Locust
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Plainfield
  • Carrier Code: R003
  • 4-Digit Zip Code: 2550
  • Zip Code: 60586

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $689,884
  • Tax Rate Code Area: NS004

    Appraisal Valuation

  • Standard Deviation: 0.1375
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 83
  • Final Value: 363,284
  • High Value: 413,260
  • Low Value: 313,308

    Market Valuation

  • Market Total Value: $277,893
  • Market Land Value: $40,302
  • Market Improvement Value: $237,591

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $92,631
  • Assessed Land Value: $13,434
  • Assessed Improvements Value: $79,197

    Sales

  • Current Sale Contract Date: Aug 10, 2021
  • Current Sale Recording Date: Oct 06, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 202100026178
  • Previous Sale Recording Date: Sep 22, 2004
  • Previous Sale Contract Date: Jul 29, 2004
  • Previous Sale Amount: $206,000
  • Previous Sale Document Type: 51
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 Joliet

Stats & Trends

Median Asking:

$340,000

Sale Price/ft²

$192

Above Asking

0.00%

Average Days on Market

46

Average Home Size

1875 ft²

Average Home Age

42.6 years

Currently For Sale

274 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 6816 Twin Falls Drive, Plainfield, IL, 60586

$3,750 /mo

  • 4 Beds
  • 3 Baths
  • 2,202 ft²
6816 Twin Falls Drive, Plainfield, IL, 60586 Listing by Pedro Porcayo

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: William Finfrock, Redfin Corporation
Last Updated: 3 years ago
Data Source: MRED, MLS# 11149206
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 7506 Locust Lane built and last sold?
The property at 7506 Locust Lane was built in and last sold on Aug 10, 2021 for $305,000.
How much is this home worth?
The estimated value of the home located at 7506 Locust Lane is $303,977.
What are some comparable homes to 7506 Locust Lane?
There are currently no comparable homes to 7506 Locust Lane.
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