This single-family property is available as a tax lien at Merrimac St. Based on our analysis of the current market conditions in Cary for Merrimac St and comparable listings, the estimated market value is $274,230. If purchased for rental purposes, the monthly rental rate could range between $1,400 and $1,710. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Merrimac St are updated daily along with others in Cary, Illinois.
Plus with taxes and insurance
Based on 20% down, 30 year mortgage, with 5% APR
All calculations are estimates provided for informational purposes. Actual amounts may vary by location. It is important to know that mortgage rates are dependant on credit scores, loan timeline, and a down payment amount.
The property located at Merrimac St in Cary, IL is listed as a Tax LienThe property located at Merrimac St in Cary, Illinois has a tax lien. When annual property taxes are delinquent, a lien is immediately placed against the property that must be paid in full before it can be sold. If a homeowner fails to pay his or her real estate taxes, the government or other taxing entity may attempt to sell the property. For this reason, valuable properties may sometimes be acquired for a fraction of their true value.
Tax Liens are issued when a property owner fails to pay real estate taxes in a timely manner and a taxing authority, such as a city, county, or state, declares the taxes in default.
Here are the basic steps to follow:
There is a highly organized market for real estate tax liens and many sophisticated investors buy them. Tax liens can offer higher returns than many other types of interest-bearing investments and represent an opportunity for very little cash. The market for tax lien properties is competitive and the taxing authorities have specific rules to be followed. A wise investor will research each property to make certain his investment is secure.
The estimated rental value for Merrimac St located in Cary, IL is $1,550/month. Comparable homes around Merrimac St that are rentals have monthly ranges starting as low as $1,400 per month and as high as $1,710 per month. An owner looking to use this property as an investment could bring a return in the area of $1,400 - $1,710 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.
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