4 months on rocket

1914 N 18th Ave, Melrose Park, IL, 60160

$559,000

Home List Price

$6,638*

Closing Credit

7 Bedrooms
5 Baths
House

Location

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1914 N 18th Ave, Melrose Park$559,000

Buyer Closing Credits

$6,638*

1.25% Loan Amount

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Property Highlights

Home TypeResidential
ParkingAssigned
Year Built1970
HeatingSteam, Baseboard
MLS #12095359
StatusActive

About 1914 N 18th Ave

Welcome to a lucrative opportunity nestled in the heart of Melrose Park, where prime real estate meets exceptional potential. This property offers a blend of comfortable living space and exceptional rental income potential, making it ideal for investors looking to maximize returns in the real estate market, as well as a unique option to have a unit to reside in. This investment gem sits within close proximity to constantly developing shopping centers, major highways, schools, parks, and public transportation. Its strategic location not only enhances its desirability for tenants and investors alike, but also presents long-term appreciation in property value. A well-maintained 4-unit brick building comprises of three spacious 2-bedroom apartments and one large single-bedroom unit. A Large laundry room with coin operated washer and dryer and additional storage for each apartment. A Shed located in the back of the property, along with a common picnic area. The building also has 5 parking spots, a highly-desirable feature in the area. The building is equipped with a newer roof and gutters (2017) as well as new fire-resistant doors. All units are currently occupied by long-term tenants. With the current lower rents, the capitalization rate is 6.15 precent . With brought up to market value rent, the capitalization rate rises above 8.4 precent ! This property offers investors a rare opportunity for substantial returns on their investment in today's flourishing market. Whether you're looking to diversify your portfolio, generate passive income, or secure a residence with income potential, this investment promises to deliver both financial rewards and lifestyle benefits. One of the owners is a licensed real estate agent.

Property Details

Property Features

Property Information:

  • Year Built: 1970

Listing Office:

  • Office Name: Altogether Realty Corporation
  • Office Phone: (847) 915-0889
  • Listing Agent: Sarit Levine

Interior Features

Interior Information:

  • Basement: No

Bedroom and Bathroom Information:

  • Total Bedroom Count: 7

Exterior Features

Parking Information:

  • Parking: Assigned

Utilities

Utilities Information:

  • Heating: Steam, Baseboard

Other

Directions Information:

  • Directions: Directions North Ave (Route 64) to 18th Ave N to building

Price Information

Listing Price Info

Price Summary:

  • List Price: $559,000
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Housing Market Comparison

See how this home compares to others in Melrose Park, IL.

Med. Sold Price

$314.5K

Med. Price/SqFt

$202

Avg. Days On Market

39

# of Sold Homes

9

1914 N 18th Ave vs Melrose Park

143 DAYS ON ROCKET

+104 Days

$559,000

+$244.5K More

KEY TAKEAWAY

This property is $244.5K more than the Median Sold Price in Melrose Park, IL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MRED
  • MLS Number: #12095359

Listing Office:

  • Office Name: Altogether Realty Corporation
  • Office Phone: (847) 915-0889
  • Listing Agent: Sarit Levine

IDX Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.

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.

IDX Copyright © 2024 Midwest Real Estate Data LLC (MRED). All rights reserved.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than the broker/agent who owns the website are marked with the MRED Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (the MRED logo) and detailed information about them includes the names of the listing brokers.

All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

Some properties which appear for sale on this website may subsequently have sold and may no longer be available. Information Deemed Reliable but Not Guaranteed. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the "DMCA") provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@theMLSGRID.co

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Copyright © 2024 Midwest Real Estate Data LLC (MRED). All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 8:15:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

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$2,857

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Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,742

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-285744
4
/10
  • Jane Addams Elementary School

  • 910 Division St

  • 0.81 miles

  • Public District Grades PK-5

school-card-donut-285745
3
/10
  • Melrose Park Elementary School

  • 1715 W Lake St

  • 1.04 miles

  • Public District Grades PK-5

school-card-donut-285746
8
/10
  • Dan H Pietrini Elementary School

  • 9750 Fullerton Ave

  • 1.16 miles

  • Public District Grades PK-5

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $33,393. Typical income of Melrose Park, IL residents is less than $35k annually. Typical family type is single, no kids. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1914 N 18th Ave

What is the listing price of this property?

The listing price of 1914 N 18th Ave property is $559,000.

What type of property is this?

The property 1914 N 18th Ave is a house located in Melrose Park, Illinois, 60160.

Is this property for sale now?

Active Listing: 1914 N 18th Ave is For Sale (Active/New) which means the seller is accepting offers.

How many bedrooms and bathrooms does this property have?

The property at 1914 N 18th Ave has 7 bedrooms and 5 bathrooms.

Which year was this property built?

The year of construction for 1914 N 18th Ave is 1970.

Rocket HomesIllinoisCook CountyMelrose Park601601914 N 18th Ave

This home is located at 1914 N 18th Ave in Melrose Park, IL and zip code 60160. This home was built in 1970. Features: 7 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since June 26, 2024 and is currently priced at $559,000.

In October 2024 more than 3 listings in Melrose Park, IL were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 5 were sold below. The number of homes for sale in Melrose Park, IL increased by 39.6% between September 2024 and October 2024. While the average time on the market in October 2024 was 39 days, the median list price was $314,500.

From Rocket Homes Real Estate and based on county public records data.

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