NOT LISTED FOR SALE

550 Park Dr Marengo, IL 60152

Estimated Value: $301,329 - $365,000

4 Beds
2 Baths
-- Sq Ft
10,585 Sq Ft Lot

Last Sold July 02, 2024

Last sale price $300,000

Est. 9% increase in value since last sale

Current estimated payment $2,217/month

4 Days on Market

About This Home

As of July 2024

Fully occupied and cash flowing. Units recently remodeled. New roof. Owner is an Illinois licensed Managing Broker

Last Agent to Sell the Property

Phillip Mazur

Right at Home Realty Illinois, LLC License #471018189 Listed on: 05/16/2024

Right at Home Realty Illinois, LLC

Last Buyer's Agent

Nikhil Shah

ARNI Realty Incorporated License #475175650

ARNI Realty Incorporated

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,674

Year Built

  • Built in 1973 | Remodeled in 2018

Lot Details

  • 10,585

Parking

  • 2 Car Attached Garage

Home Design

  • Cedar

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Potential Bedrooms
  • 2 Bathrooms

Schools

  • Marengo High School

Additional Features

  • Basement Fills Entire Space Under The House
  • Lot Dimensions are 79x134
  • Heating System Uses Natural Gas

Community Details

Overview

  • 2 Units

Building Details

  • Gross Income $30,000
  • Net Operating Income $30,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,674

Year Built

Built in 1973 | Remodeled in 2018

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1973
  • Age: 51-60 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2018
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2018

Interior Features

  • Basement: Full
  • Total Bathrooms: 2
  • Total Bedrooms: 4
  • Basement Description: Finished,Unfinished
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0

Exterior Features

  • Waterfront: No
  • Exterior Building Type: Cedar

Garage/Parking

  • Garage Spaces: 2
  • ParkingTotal: 2
  • Garage On-Site: Yes
  • Garage Type: Attached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas
  • Water Source: Public

Schools

  • High School: Marengo High School

Lot Info

  • Lot Dimensions: 79X134
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 3

Multi Family

  • Net Operating Income: 30000
  • GrossIncome: 30000
  • Units in Building: 2
  • Three Bedroom Number of Units: No
  • Type-Multi: 2 Flat

Tax Info

  • Tax Annual Amount: 5674
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 16, 2024
Closed on
Jun 23, 2024
Sold by
Mazur Phillip
Bought by
Adk Properties Inc
Seller's Agent
Phillip Mazur
Right at Home Realty Illinois, LLC
Buyer's Agent
Nikhil Shah
ARNI Realty Incorporated
List Price
$313,690
Sold Price
$300,000
Premium/Discount to List
-$13,690
-4.36%
Views
10
Current Estimated Value
$326,082

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$26,082
Avg. Annual Appreciation
6.52%
Original Mortgage
$240,000
Outstanding Balance
$235,294
Interest Rate
6.94%
Mortgage Type
New Conventional
Estimated Equity
$90,788

Purchase Details

Listed on
Jul 3, 2018
Closed on
Sep 12, 2018
Sold by
Martin Christine M
Bought by
Mazur Phillip W
Seller's Agent
Sandy Butenschoen
CENTURY 21 New Heritage
Buyer's Agent
Phillip Mazur
Right at Home Realty Illinois, LLC
List Price
$155,000
Sold Price
$145,000
Premium/Discount to List
-$10,000
-6.45%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.33%
Original Mortgage
$108,750
Interest Rate
4.5%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Adk Properties Inc $300,000 None Listed On Document
Mazur Phillip W $145,000 Wheatland Title Guaranty
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Adk Properties Inc $240,000
Previous Owner Mazur Phillip W $108,750
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/02/2024 07/02/24 Sold $300,000 -4.4% --
05/21/2024 05/21/24 Pending -- -- --
05/16/2024 05/16/24 For Sale $313,690 +116.3% --
09/13/2018 09/13/18 Sold $145,000 -6.5% -- View Prior Sale
08/19/2018 08/19/18 Pending -- -- --
07/03/2018 07/03/18 For Sale $155,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Tax History

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 $6,021 $79,340 $18,129 $61,211
2023 $5,915 $69,940 $15,981 $53,959
2022 $5,674 $63,248 $14,452 $48,796
2021 $5,310 $57,629 $13,168 $44,461
2020 $5,238 $54,843 $12,531 $42,312
2019 $5,561 $51,964 $11,873 $40,091
2018 $4,015 $48,673 $11,121 $37,552
2017 $3,839 $46,105 $10,534 $35,571
2016 $3,653 $43,077 $9,842 $33,235
2013 -- $42,146 $9,629 $32,517
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12057646

Midwest Real Estate Data (MRED)

APN: 11-35-329-009