Residential Income Property with
For Sale
$320,000
Pending
314 Richfield Trail, Romeoville, IL 60446
A two-level home features a vaulted living room, an open loft, and laundry on the upper floor.
Property Size1,668 SF
Days on Market34
Property Features for 314 Richfield Trail
General Information
Standard status
Pending
Size
1,668 SF
Property subtype
1/2 Duplex
Taxes and HOA fees
Annual Taxes
$5,993
Amenities
clubhouse
swimming pool
tennis courts
parks
Building Details
Building Size
1,668 SF
Year Built
2001
Listing Agency:
Circle One Realty
(630) 862-5181
Listed By:
Ryan Cherney · License #471019427
(630) 528-2300
Source:
Angelawalkerhomes
Added: Sep 26
Changed: Oct 26
Last Checked: Oct 26 at 4:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Circle One Realty
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Investment Insights
Based on property information with market context.
This two-level residential property has a vaulted living room with an open loft overlooking the space. Tile flooring extends through the family room and kitchen, and laundry is located upstairs. Smart-home equipment includes a Nest thermostat and doorbell, ADT security cameras, updated smoke and carbon monoxide detectors, and a Wi-Fi-enabled garage door opener. Mechanical and exterior updates include a new AC and AC coil in 2026, a roof, HVAC heater, and water heater from 2022, and siding installed in 2021.
The property is in the Lakewood Falls community, whose HOA amenities include a clubhouse, swimming pool, tennis courts, and parks. It is within Plainfield School District 202.
The property is in the Lakewood Falls community, whose HOA amenities include a clubhouse, swimming pool, tennis courts, and parks. It is within Plainfield School District 202.
Key Highlights
- Two‑level layout with a vaulted living room and an open loft
- Laundry located on the upper floor
- Nest thermostat and doorbell, ADT security cameras, and Wi‑Fi‑enabled garage door opener
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,350
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$387,000
$387.0K
Cap Rate 7%
$276,429
$276.4K
Cap Rate 9%
$215,000
$215.0K
Market Conditions
NOI Build-Up for 1,668 SF
Gross rent
$37.8K $22.68/SF
− Vacancy
−$2.6K −$1.59/SF
EGI
$35.2K $21.09/SF
− OpEx
−$15.8K −$9.49/SF
NOI
$19.4K $11.60/SF
Area
Will County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$387,000
Cap Rate 7%
$276,429
Cap Rate 9%
$215,000
Alternative Uses
Best Use
Apartment 5plus
$276.4K
$241.9K – $322.5K
NOI $19,350 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.3K
$331.0K – $441.4K
NOI $26,481 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
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Business Placement
Demographics for 60446, IL
40,465
Population
13,986
Households
2.9
Avg Household Size
36
Median Age
23%
College-Educated
84%
High-School Grad
19.5 sq mi
ZIP Area
2,075
Density / Sq Mi
$99,461
Median Household Income
$41,908
Median Earnings
$1,894
Median Rent
$245,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-level home features a vaulted living room, an open loft, and laundry on the upper floor.
Where is this residential income property located?
The property is located at 314 Richfield Trail Romeoville, IL.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two‑level layout with a vaulted living room and an open loft; Laundry located on the upper floor; Nest thermostat and doorbell, ADT security cameras, and Wi‑Fi‑enabled garage door opener
