624 Kungs Way Joliet, IL 60435
Estimated Value: $460,288
7
Beds
4
Baths
--
Sq Ft
0.27
Acres
Highlights
- Lower Floor Utility Room
- Entrance Foyer
- Ceiling Fan
About This Home
As of September 2019Positive cash flow MOST definitely possible. Rents can be much higher than too kind an owner has been collecting from long-time occupants. Leases are month-to-month so easy to kick the rent rates up quite a bit in today's market to maximize positive cash flow! All Bathrooms have been updated either just recently or within a year or two. NEW neutral carpet in all units. NEW white 6-panel doors in most units. Coin Washer & Dryer provides ADDITIONAL income. Storage closet and mechanical room provide private storage for owner. EXTRA parking spaces compared to other 4-unit buildings along street makes this building more desirable to future prospective tenants. Shed at rear of lot for private owner use as well. 2018 Profit & Loss statement with list of improvements available upon request.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,879
Year Built
- Built in 1960
Lot Details
- 0.27 Acre Lot
- Lot Dimensions are 80x151
Home Design
- Brick Exterior Construction
- Asphalt Roof
- Concrete Perimeter Foundation
Interior Spaces
- Ceiling Fan
- Entrance Foyer
- Lower Floor Utility Room
- Sump Pump
- Storm Screens
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Potential Bedrooms
- 4 Bathrooms
Parking
- 7 Parking Spaces
- Uncovered Parking
- Off-Street Parking
- Parking Included in Price
- Unassigned Parking
Utilities
- Heating System Uses Natural Gas
Community Details
Overview
- 4 Units
- 4 Unit
Building Details
- Electric Expense $264
- Fuel Expense $1,568
- Insurance Expense $1,846
- Water Sewer Expense $2,692
- Gross Income $33,857
- Net Operating Income $17,784
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 31, 2019
Closed on
Sep 3, 2019
Sold by
Morse David
Bought by
Ceballos Carlos and Ceballos Carmen Milagros
Seller's Agent
Christine Thompson
Baird & Warner
Buyer's Agent
Pedro Reyes
Coldwell Banker Real Estate Group
List Price
$325,000
Sold Price
$310,000
Premium/Discount to List
-$15,000
-4.62%
Total Days on Market
25
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$150,288
Avg. Annual Appreciation
7.17%
Original Mortgage
$232,500
Interest Rate
4.87%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jun 1, 1998
Sold by
Mihailovich Slavko and Mihailovich Katherine
Bought by
Morse David and Morse Joan A
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$163,800
Interest Rate
7.07%
Mortgage Type
Commercial
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Similar Homes in Joliet, IL
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Ceballos Carlos | $310,000 | Chicago Title | |
| Morse David | $234,000 | Chicago Title Insurance Co |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Ceballos Carlos | $232,000 | |
| Closed | Ceballos Carlos | $232,500 | |
| Previous Owner | Morse David | $163,800 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/09/2019 09/09/19 | Sold | $310,000 | -4.6% | -- |
| 06/25/2019 06/25/19 | Pending | -- | -- | -- |
| 05/31/2019 05/31/19 | For Sale | $325,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2023 | $11,260 | $122,400 | $19,018 | $103,382 |
| 2022 | $8,494 | $93,334 | $18,645 | $74,689 |
| 2021 | $8,640 | $93,334 | $18,645 | $74,689 |
| 2020 | $8,633 | $93,334 | $18,645 | $74,689 |
| 2019 | $8,831 | $93,334 | $18,645 | $74,689 |
| 2018 | $7,879 | $80,640 | $18,645 | $61,995 |
| 2017 | $8,164 | $80,640 | $18,645 | $61,995 |
| 2016 | $8,487 | $80,640 | $18,645 | $61,995 |
| 2015 | $10,905 | $90,000 | $18,645 | $71,355 |
| 2014 | $10,905 | $100,251 | $18,645 | $81,606 |
| 2013 | $10,905 | $100,251 | $18,645 | $81,606 |
Source: Public Records
Agents Affiliated with this Home
-
Christine Thompson
Seller's Agent in 2019
Christine Thompson
Baird Warner
(630) 853-2370
160 Total Sales
-
Pedro Reyes
P
Buyer's Agent in 2019
Pedro Reyes
Coldwell Banker Real Estate Group
(815) 272-0580
2 in this area
28 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 10399585
APN: 06-12-210-017
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