This Multi-Family Tax Lien is located at S 3rd St, Rockford, IL 61104. This property is Tax Lien with an estimated market value of $57,035.
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This multi-family property is available as a tax lien at S 3rd St. Based on our analysis of the current market conditions in Rockford for S 3rd St and comparable listings, the estimated market value is $57,035. If purchased for rental purposes, the monthly rental rate could range between $830 and $1,131. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at S 3rd St are updated daily along with others in Rockford, Illinois.
The property located at S 3rd St in Rockford, IL is listed as a Tax LienThe property located at S 3rd St in Rockford, 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.
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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 S 3rd St located in Rockford, IL is $980/month. Comparable homes around S 3rd St that are rentals have monthly ranges starting as low as $830 per month and as high as $1,131 per month. An owner looking to use this property as an investment could bring a return in the area of $830 - $1,131 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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