NOT LISTED FOR SALE

619 Sherman Ave Unit 21 Elgin, IL 60120

Southeast Elgin Neighborhood

Estimated Value: $268,000 - $311,000

4 Beds
2 Baths
-- Sq Ft
0.35 Acres

Last Sold February 27, 2023

Last sale price $225,000

Est. 28% increase in value since last sale

Current estimated payment $2,001/month

35 Days on Market

About This Home

As of February 2023

Great Investment Opportunity! Remodeled 2 Unit. 2 Bedroom/ 1 Bathroom Units. Positive Cash Flow. Part of a 27 Building Portfolio in Elgin that can be broken up into multiple sales.

Last Agent to Sell the Property

Rudy Johnson

Keller Williams Inspire - Geneva License #475139695 Listed on: 12/09/2022

Keller Williams Inspire - Geneva

Co-Listed By

Sharon Mennerick

HomeSmart Connect LLC License #475134295

Last Buyer's Agent

Jesus Perez

Realty of America, LLC License #475164326

Realty of America, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,729

Year Built

  • Built in 1900 | Remodeled in 2018

Lot Details

  • 0.35

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Potential Bedrooms
  • 2 Bathrooms

Additional Features

  • Partial Basement
  • Lot Dimensions are 70 x 217
  • Heating System Uses Natural Gas

Community Details

Overview

  • 2 Units

Building Details

  • Gross Income $23,100
  • Net Operating Income $18,300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,729

Year Built

Built in 1900 | Remodeled in 2018

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1900
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2018
  • New Construction Y/N: No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2018

Interior Features

  • Basement: Partial
  • Total Bathrooms: 2
  • Total Bedrooms: 4
  • Basement Description: Unfinished
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 2
  • Half Bathrooms in Building: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • MRD_AppliancesAndFeatures: Stove,Refrigerator

Exterior Features

  • List Price: 225000
  • Waterfront: No
  • Exterior Building Type: Other

Garage/Parking

  • Number of Cars: 0
  • Parking: None

Utilities

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

Schools

  • Middle/Junior School District: 46

Lot Info

  • Lot Dimensions: 70 X 217
  • Lot Size: .25-.49 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 5

Multi Family

  • Net Operating Income: 18300
  • GrossIncome: 23100
  • Units in Building: 2
  • Three Bedroom Number of Units: No
  • Type-Multi: 2 Flat

Tax Info

  • Tax Annual Amount: 4729.14
  • Tax Year: 2021
  • Tax Exemptions: None

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 9, 2022
Closed on
Feb 24, 2023
Sold by
Ann L Mapes Trust and Donald L Mapes Trust
Bought by
Rivera Cesar
Seller's Agent
Rudy Johnson
Keller Williams Inspire - Geneva
Buyer's Agent
Jesus Perez
Realty of America, LLC
List Price
$250,000
Sold Price
$225,000
Premium/Discount to List
-$25,000
-10%
Views
203
Current Estimated Value
$287,559

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$62,559
Avg. Annual Appreciation
9.66%
Original Mortgage
$168,750
Outstanding Balance
$164,731
Interest Rate
7.63%
Mortgage Type
New Conventional
Estimated Equity
$122,828

Purchase Details

Closed on
Nov 7, 1998
Sold by
Mapes Donald L and Mapes Ann L
Bought by
Mapes Ann L and Mapes Donald L

Purchase Details

Closed on
Nov 4, 1998
Sold by
Mapes Donald L and Mapes Ann L
Bought by
Mapes Donald L and Mapes Ann L
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
Rivera Cesar $225,000 None Listed On Document
Mapes Ann L -- --
Mapes Donald L -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rivera Cesar $168,750
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/27/2023 02/27/23 Sold $225,000 0.0% --
01/14/2023 01/14/23 Pending -- -- --
01/06/2023 01/06/23 Price Changed $225,000 -10.0% --
12/09/2022 12/09/22 For Sale $250,000 -- --
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 $5,914 $73,903 $18,064 $55,839
2023 $5,691 $66,765 $16,319 $50,446
2022 $4,916 $56,696 $14,880 $41,816
2021 $4,729 $53,007 $13,912 $39,095
2020 $4,615 $50,603 $13,281 $37,322
2019 $4,502 $48,203 $12,651 $35,552
2018 $4,490 $45,410 $11,918 $33,492
2017 $4,415 $42,929 $11,267 $31,662
2016 $4,248 $39,827 $10,453 $29,374
2015 -- $36,505 $9,581 $26,924
2014 -- $36,055 $9,463 $26,592
2013 -- $37,006 $9,713 $27,293
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11677896

Midwest Real Estate Data (MRED)

APN: 06-24-229-005