472 N Spring St Elgin, IL 60120
Northeast Elgin NeighborhoodEstimated payment $2,899/month
Highlights
- 2 Car Detached Garage
- Multiple Water Heaters
- 4-minute walk to St Francis Park
- Forced Air Heating System
About This Home
Great Turnkey Investment Opportunity located in historic district just north of rapidly developing downtown Elgin. Remodel in 2020 included 2 new eat-in kitchens with granite countertops & new appliances, new bathrooms, all new gas forced-air HVAC system with new central air conditioning units, furnaces, and hot water heaters. New roof on house & garage along with all copper pipes replacing old galvanized also in 2020. Large 2-story detached 1200sf garage currently used for owner's storage is potential 3rd unit coach house development or can be rented to tenants now for indoor parking income. Separately metered gas & electric. Coin-operated commercial washer & dryer in basement shared by both units provides extra income. Second floor tenants maintain lawn and bushes and are responsible for snow removal in exchange for $60/month reduction in rent which is reflected in adjusted Unit 2 current lease amount of $1,640/month. Both apartments are currently leased - start out with strong cash flow right away. Photos are from when both units were vacant prior to tenant occupancy.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,406
Year Renovated
- 2020
Lot Details
- 8,712 Sq Ft Lot
- Lot Dimensions are 133 x 67 x 133 x 66
Parking
- 2 Car Detached Garage
- Parking Available
- Driveway
Home Design
- Asphalt Roof
- Concrete Perimeter Foundation
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Potential Bedrooms
- 2 Bathrooms
Unfinished Basement
- Basement Fills Entire Space Under The House
- Sump Pump
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Multiple Water Heaters
- Gas Water Heater
- Cable TV Available
Community Details
Overview
- 2 Units
Building Details
- Insurance Expense $1,584
- Water Sewer Expense $3,000
- Gross Income $44,880
- Net Operating Income $32,890
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $7,156 | $89,412 | $15,494 | $73,918 |
| 2023 | $6,886 | $80,777 | $13,998 | $66,779 |
| 2022 | $5,907 | $68,119 | $12,764 | $55,355 |
| 2021 | $5,682 | $63,686 | $11,933 | $51,753 |
| 2020 | $5,545 | $60,798 | $11,392 | $49,406 |
| 2019 | $4,849 | $57,914 | $10,852 | $47,062 |
| 2018 | $4,801 | $54,558 | $10,223 | $44,335 |
| 2017 | $4,688 | $51,576 | $9,664 | $41,912 |
| 2016 | $4,463 | $47,849 | $8,966 | $38,883 |
| 2015 | -- | $43,858 | $8,218 | $35,640 |
| 2014 | -- | $43,317 | $8,117 | $35,200 |
| 2013 | -- | $44,460 | $8,331 | $36,129 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/16/2026 07/16/26 | For Sale | $420,000 | +361.5% | -- | |
| 09/24/2019 09/24/19 | Sold | $91,000 | -28.6% | -- | View Prior Sale |
| 08/23/2019 08/23/19 | Pending | -- | -- | -- | |
| 08/09/2019 08/09/19 | For Sale | $127,500 | -- | -- |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $91,000 | Baird & Warner Ttl Svcs Inc | |
| Executors Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12704270
APN: 06-11-484-006
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Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
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