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    Historic Farmhouse with Modern Updates Title is generated by Realmo AI

    742 S 4th St, Dekalb, IL 60115

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    For Sale
    $249,900

    Farm / Farmhouse, House (Detached) - Dekalb, IL

    Type:Farm
    Property size:
    1,824 SF
    Lot size:
    0.30 Acres
    Price / SF:
    $137/SF
    Added:
    May 21, 2026
    Days on Market:
    1
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for 742 S 4th St

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Zoning
    100
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Dining Room, Family Room, Kitchen, Living Room
    Parking features
    Garage, Garage - Detached
    Basement Y/N
    1
    Appliances
    Dryer, Refrigerator
    Standard status
    Active
    APN
    08-23-360-015
    Size
    1,824 SF
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1982

    Utilities

    Heating system
    Radiant

    Building Details

    Year built
    1902
    Year renovated
    1902
    Floors in Building
    2
    Flooring type
    Carpet, Hardwood, Vinyl
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Sherry Murphy
    Sherry Murphy

    Listing agent Sherry Murphy

    Listing office HAYDEN REAL ESTATE INC 225 E IL Rt 38, Rochelle, IL

    Listing date May 21, 2026

    MLS# 11779331 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Move‑in ready: Fully replaced roof (2024) and freshly painted exterior.
    • Historic farmhouse charm with modern updates and original architectural details.
    • Hot tub/spa in a beautiful three‑season room.
    • Spacious 1/3 acre lot with grapevines, apple trees, and pawpaw trees.
    • Four bedrooms providing ample space for family, guests, or a home office.
    • Two‑car detached garage with 220 electric outlet and log cabin‑style storage shed.

    Overview

    This historic farmhouse-style, two-story home features original architectural wood details, moldings, and hardwood floors. The repainted interior includes a living room and a family room with a wood-burning fireplace with brick surround. A dining room with an alcove is suited for gatherings. The kitchen features freshly painted white cabinets, new LPV flooring, and a walk-in pantry, and it opens to a three-season room with a wood ceiling and a hot tub/spa. Upstairs, there are four bedrooms and the primary bathroom. The roof was fully replaced in 2024, and the exterior has been freshly painted. Situated on 1/3 of an acre, the partially fenced yard includes grapevines, apple trees, and pawpaw trees. There is a two-car detached garage with a 220 electric outlet, and a log cabin-style storage shed facing the park. The property is located in Dekalb, IL.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $235.1K
    NOI $21,160 @ 9.00% cap · cautious / downside scenario
    Moderate
    $302.3K
    NOI $21,160 @ 7.00% cap · market / base-case scenario
    Aggressive
    $423.2K
    NOI $21,160 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $41.4k $22.68
    − Vacancy −$2.9k −$1.59
    EGI $38.5k $21.09
    − OpEx −$17.3k −$9.49
    NOI $21.2k $11.60
    1,824 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $302.3K
    $264.5K – $352.7K (±1% cap)
    NOI $21,160 @ 7.0% cap · market cap 8.47%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $629.7K
    $551.0K – $734.7K (±1% cap)
    NOI $44,082 @ 7.0% cap · market cap 17.64%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dekalb
    County
    DeKalb
    State
    Illinois
    Longitude
    -88.75301
    Latitude
    41.922358

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    FAQs

    What type of property is this?
    Farm - Charming farmhouse with modern updates on a 1/3 acre lot.
    Where is this farm located?
    The property is located at 742 S 4th St Dekalb, IL.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: Move‑in ready: Fully replaced roof (2024) and freshly painted exterior.; Historic farmhouse charm with modern updates and original architectural details.; Hot tub/spa in a beautiful three‑season room.
    (815) 562-2111
    We can help!
    Listing Contact
    Sherry Murphy
    Sherry Murphy
    Real Estate License ID: 475110536
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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