5101 Carriageway Drive, Unit B314

5101 Carriageway Drive, Unit B314

5101 Carriageway Dr
Rolling Meadows, IL 60008

$112,500
Last Sold Price
1
Beds
1
Bath
900 Sq. Ft.
$125 / Sq. Ft.
900
Sq. Ft.
$125
per Sq. Ft.

Closed 4/22/22

Closed 4/22/22

a closeup of a sink
a front view of a house with garden
a view of multiple house with a yard
a view of a house with a garden
a view of entryway and hall
an entryway with a flower pot
a living room with furniture and a floor to ceiling window
a balcony with chairs
a living room with furniture and a couch
a kitchen with stainless steel appliances a stove a sink and a refrigerator with wooden floor
a view of a livingroom with furniture and closet
a bathroom with a sink a toilet and a mirror
a bedroom with a bed and a night stand
a view of a storage room
a view of entryway
a view of hallway
a utility room with dryer and washer
a view of a terrace
a view of parking garage with cars
a view of parking garage
a view of a indoor swimming pool
a view of an empty room
a view of swimming pool with swimming pool in front of it
an aerial view of a house having yard
an aerial view of a house having yard

Description

Welcome home to a cute, quaint and cozy, top floor, one-bedroom unit with that perfect, east facing balcony view facing the pool, and sunrise! Walk into the living room area highlighted by a large balcony door with its inviting natural, crisp sunlight. Unwind on your balcony with your morning coffee in hand or enjoy that perfect, early evening barbeque meal. The living space opens up to a functional kitchen with ample space for a breakfast table. Then head to a very spacious bedroom with a deep,...Welcome home to a cute, quaint and cozy, top floor, one-bedroom unit with that perfect, east facing balcony view facing the pool, and sunrise! Walk into the living room area highlighted by a large balcony door with its inviting natural, crisp sunlight. Unwind on your balcony with your morning coffee in hand or enjoy that perfect, early evening barbeque meal. The living space opens up to a functional kitchen with ample space for a breakfast table. Then head to a very spacious bedroom with a deep, walk-in closet. Yes, the unit needs cosmetic work but the location, space, and building and area amenities are absolutely perfect! What is my monthly mortgage payment at a purchase price of $115,000 with just a 5% down? Your monthly mortgage payment will be about $1,161 per month based on a selling price of $115,000 with a 5% down payment (or $5,750, which is very little) at a 3% interest rate with a property tax bill of $1,621 per year, a $25 per month homeowners insurance bill, a $506 per month HOA bill and a $35 per month mortgage insurance premium. Or, you could put down 20% or $23,000 at a purchase price of $115,000 but that only reduces your payment by about $108 down to $1,053 per month. It is wise to put down a lower down payment of 5% and then keep the additional money in your account. Can i rent it out? Yes! Are there rental restrictions? No! Is it cheaper to own than rent? Yes! Live in it and, then, in the future, keep it as a rental! With a little cosmetic work, you can rent it very easily and quickly for $1,350 per month. Or, if you purchase this unit with cash, you will earn about $700 per month in free cash flow based on a $1,350 per month rental lease and expenses of $500 per month for association dues and $150 per month in property taxes. This produces approximately $8,400 per year in free cash flow. What is my net cash-on-cash return if i rent it? You are looking at a 7.30% net cash-on-cash return. Buy it as a rental and make a solid 7% return on your investment and you will also receive all the tax benefits of owning your own rental property such as, but not limited to, depreciation and write-off's. A 7.30% rate-of-return easily beats the 0.05% rate-of-return offered at local banks. Can i live in the unit and rent out the parking space? Yes! You can live in your unit and rent your indoor, heated parking space for at least $150 per month and then use this $150 parking space income to offset your total mortgage payment. Can i even sell my parking space separately? Yes. Recently, a parking space sold for $10,000 within a day (MLS# 11103480). What does my monthly association bill of $500 per month cover? A lot! It covers elevator maintenance, an in-ground pool, a heated underground garage parking space, an indoor self-wash bay for your cash, a large storage unit and a bicycle storage area; it also covers heat, water, sewer, gas, air conditioning and landscaping and snow removal services! Unit owners only pay a light bill. That is it. Will the seller assist with closing cost credits? Yes! Just ask. Nevertheless, and in addition to all these benefits, this unit is in an excellent transportation artery near 90 and 290 along with close proximity to Woodfield Mall, great primary and secondary schools and countless local restaurants. And there is much more. Like a cat friendly complex (sorry, no dogs). Garage space #75. Storage space #B314. An indoor car wash station. A pool. And more! Show and sell. A great unit. A great area. A great investment. Easy to show.

Property Details for 5101 Carriageway Drive, Unit B314

Area
Rolling Meadows
Subdivision
Carriage Way
Township
Elk Grove
Ownership
Condo
Num Of Garage Spaces
1.0
Num Of Cars
1.0
Parking Included in Price
Yes
Num of Interior Fireplaces
0

Location

Add your commute
LISTING UPDATED: 07/17/2022 08:47 AM

Property Details for 5101 Carriageway Drive, Unit B314

StatusClosed
MLS #11194192
Days on Market246
Taxes$1,621 / year
HOA Fees$506 / month
Condo/Co-op Fees-
Compass TypeCondo
MLS TypeAttached Single / Condo
Year Built1972
CountyCook County

Building

5101 Carriageway Dr

48 Units3 StoriesBuilt in 1972

Location

Add your commute

Building Information for 5101 Carriageway Drive, Unit B314

Building/Complex5101 Carriageway DrFloor-Stories3Residences48Pet PolicyNot AllowedYear Built1972

Payment Calculator

$1,255 per month

30 year fixed, 7.25% Interest

Principal and Interest

$614

Property Taxes

$135

HOA Dues

$506

The Payment Calculator is for illustrative purposes only.

Property Information for 5101 Carriageway Drive, Unit B314

General Information
School Information
  • Elementary School District: 15
  • Elementary School: Willow Bend Elementary School
  • Jr High Middle School: Carl Sandburg Junior High School
  • High School District: 214
  • High School: Rolling Meadows High School
  • Middle Or Junior School District: 15
Addtl Parking Information
  • Garage Details: Garage Door Opener(s), Heated
  • Garage On Site: true
  • Garage Ownership: Owned
  • Garage Type: Attached
  • Parking: Garage
Pet Information
  • Pet Information: Cats OK, Dogs OK
Location and General Information
  • Postal Code Plus 4: 3920
Taxes and HOA Information
  • Association Fee Frequency: Monthly
  • Additional Parcels: Yes
Property Information
Interior Features
  • Common Area Amenities: Bike Room/Bike Trails, Coin Laundry, Elevator, Storage, Pool-Outdoors, Security Door Locks, Service Elevator
  • Num Of Rooms: 4
  • Bedrooms (Below Grade): 0
  • Unit Floor Level: 3
  • Basement Type: None
  • Bedrooms Possible: 1
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers, 100 Amp Service
  • Basement Description: None
  • Basement Bathrooms: No
  • Room Type: Foyer
  • Num of Baths: 1.0
Exterior Features
  • Type: Condo
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Lake Michigan
  • Other Equipment: Security System, Intercom
Property/Lot Information
  • Exterior Property Features: Balcony, Pool In-Ground, Storms/Screens
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: No
  • Built Before 1978: Yes
  • Age: 51-60 Years
  • Type Attached: Condo
  • Total Sq Ft: 0
  • Aprox Total Finished Sq Ft: 0
  • Total Finished and Unfin Sq Ft: 0
  • Lot Dimensions: INTEGRAL
  • Stories Total: 3
  • Total # Units in Building: 70.0
  • Zero Lot Line: No
  • Waterfront: No
  • Disability Access and/or Equipped: No
  • Driveway: Concrete
  • Exterior Building Type: Brick
  • Foundation Details: Concrete Perimeter
  • General Information: School Bus Service,Commuter Bus,Interstate Access
  • Living Area Source: Estimated
  • Management: Manager Off-site
  • Management Company: ASSOCIA
Property and Assessments
  • Buyer Financing: Conventional
  • Public Document Count: 2
  • Document Date: 2021-08-18T00:04:14
  • Photos Count: 26
  • Rural: N
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Room Information
Master Bedroom Information
  • Master Bedroom Level: Main
  • Room Type: Master Bedroom
  • Master Bedroom Bath: None
  • Master Bedroom Dimensions: 13X11
Dining Room Information
  • Dining Room Level: Main
  • RoomType_DR: Dining Room
  • Dining Room Dimensions: COMBO
Kitchen Information
  • Kitchen Level: Main
  • RoomType_KT: Kitchen
  • Kitchen Dimensions: 13X8
Living Room Information
  • Living Room Level: Main
  • Room Type: Living Room
  • Living Room Dimensions: 21X13
Foyer Information
  • Room Level: Main
  • Room Type: Foyer
  • Deck Dimensions: 4X11

Property History for 5101 Carriageway Drive, Unit B314

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5101 Carriageway Drive, Unit B314

Taxable ValueLand$1,204Additions$8,491Total$9,695
Tax Record2022$1,833 ($153 / month)
Home Facts
Beds0Lot Size253,955 SqFtStyleCondominiumYear Built1978CountyCOOKAPN08-08-123-019-1095

Schools near 5101 Carriageway Drive, Unit B314

This home is within Palatine Central Consolidated School District 15.
Rating
School
Type
Grades
Distance
Willow Bend Elementary School
Public - PK to 6
Carl Sandburg Jr High School
Public - 7 to 8
Rolling Meadows High School
Public - 9 to 12
John G Conyers Learning Academy
Public - PK to 8
Rating
School
Distance
Willow Bend Elementary School
PublicPK to 6

Carl Sandburg Jr High School
Public7 to 8

Rolling Meadows High School
Public9 to 12

John G Conyers Learning Academy
PublicPK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Peter Drossos Real Estate

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 07/17/2022 08:47 AM. 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.