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McHenry 60071
8104 Penny Lane
$315,000
● House - Off Market

8104 Penny Lane

Richmond, IL 60071
bedrooms
2 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
1,302 Ft²
$313,035
RealtyHop Estimate
-0.62%
Since Oct 1, 2023
National-US
Primary Model

About This Property

Nestled within the tranquility of nature, this exceptional Ranch 2-bedroom home offers a serene and private lifestyle on a sprawling 1-acre lot, Tucked away at the end of the subdivision, from the hustle and bustle, this property boasts a unique advantage -unincorporated Richmond, No HOA. The open layout seamlessly blends the living, dining, and kitchen areas, promoting an inclusive and versatile environment for both daily living and entertaining. This home is a rare find, offering not only quality living spaces, but also the unparalleled privilege of living next to a conservation area without the constraints of a homeowners association. Seize the opportunity to own your slice of natural paradise today.
Unit Size
1,302 Ft²
Days on Market
-
Land Size
1.00 acres
Price per sqft
$242
Property Type
House
Property Taxes
$248
HOA Dues
-
Year Built
1989

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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 #11840174)

Price History

Date / Event Date Event Price
Sep 29, 2023 Sold
Premium
Sold
Jul 23, 2023 Listed by RE/MAX Plaza $315,000
Listed by RE/MAX Plaza

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1989
  • Effective Year Built: 1989
  • Building Count: 1
  • Bedroom Count: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 1,440
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 43,815
  • Total Building Area: 2,880
  • Building Area: 1,302
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,440
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GLENRICH
  • Land Acres: 0000000100
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: DOC 2017R0026419 LT 1 GLENRICH

Neighborhood

  • School District Name: Richmond-Burton Community High School District 157
  • Census Tract: 870104

Geography

  • Parcel: 04-22-377-010
  • Block: 377
  • Lot: 1
  • Municipality: RICHMOND TWP
  • Latitude: 42.444
  • Longitude: -88.2887

    Address

  • Full Address: 8104 Penny Ln
  • Address - House Number: 8104
  • Address - Street Name: Penny
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Richmond
  • Carrier Code: R001
  • 4-Digit Zip Code: 9764
  • Zip Code: 60071

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $297,338
  • Initial Tax Delinquent Year: 2021
  • Tax Rate Code Area: 04002

    Appraisal Valuation

  • Standard Deviation: 0.1545
  • Valuation Date: Jan 10, 2024
  • Confidence Score: 81
  • Final Value: 291,293
  • High Value: 336,307
  • Low Value: 246,278

    Market Valuation

  • Market Total Value: $199,785
  • Market Land Value: $53,547
  • Market Improvement Value: $146,238

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $66,595
  • Assessed Land Value: $17,849
  • Assessed Improvements Value: $48,746

    Sales

  • Current Sale Contract Date: Sep 27, 2023
  • Current Sale Recording Date: Oct 02, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 24770
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 McHenry

Stats & Trends

Median Asking:

$379,900

Sale Price/ft²

$199

Below Asking

0.01%

Average Days on Market

44

Average Home Size

2483 ft²

Average Home Age

36.6 years

Currently For Sale

642 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 350 Cunat Boulevard, Richmond, IL, 60071

$1,350 /mo

  • 1 Bed
  • 1 Bath
  • 896 ft²
350 Cunat Boulevard #2B, Richmond, IL, 60071 Listing by Brian Overheidt

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Toni Wardanian, RE/MAX Plaza
Last Updated: 3 years ago
Data Source: MRED, MLS# 11840174
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 8104 Penny Lane built and last sold?
The property at 8104 Penny Lane was built in 1989 and last sold on Sep 27, 2023 for $315,000.
How much is this home worth?
The estimated value of the home located at 8104 Penny Lane is $315,931.
What are some comparable homes to 8104 Penny Lane?
There are currently no comparable homes to 8104 Penny Lane.
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