278 S Melrose Ave, Elgin, IL, 60123
About This Home
Charming, well-built, and full of character! This adorable 2-bedroom, 1-bath home is tucked away in a desirable Elgin location and offers the perfect blend of comfort, functionality, and opportunity. The interior was completely remodeled down to the studs when purchased in 2010, creating a practical layout with inviting living spaces and a home that has been well cared for over the years. Recent updates include central air (2021), along with a newer refrigerator, dishwasher, and garbage disposal. Outside, you'll love the private backyard-ideal for relaxing, entertaining, or enjoying a quiet evening-as well as the oversized 2-car garage with plenty of room for vehicles, hobbies, and additional storage. The basement provides valuable storage space and added functionality. This property offers a wonderful opportunity for its next owner to personalize a few finishing touches while enjoying the peace of mind that comes with a solid home. Conveniently located near parks, schools, shopping, dining, and commuter routes.
Getting Around
Very Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1940
Materials
- Foundation: Concrete Perimeter
- Roof: Asphalt
- Construction materials: Aluminum Siding
Type & Style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Range,Dishwasher,Refrigerator,Washer,Dryer,Disposal
- Laundry features: Main Level
Basement
- Has basement: Yes
- Basement: Unfinished,Full
Bedroom2
- Features: Flooring (Carpet)
- Level: Main
- Area: 99
- Dimensions: 11X09
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Bonus Room
- Level: Main
- Area: 72
- Dimensions: 9X8
Features
- 1st Floor Bedroom,1st Floor Full Bath
Heating & Cooling
- Heating features: Natural Gas,Forced Air
- Cooling features: None
Interior Area
- Total structure area: 0
- Total interior livable area: 834 sqft
Kitchen
- Features: Flooring (Vinyl)
- Level: Main
- Area: 140
- Dimensions: 14X10
Living Room
- Features: Flooring (Carpet)
- Level: Main
- Area: 168
- Dimensions: 14X12
Master Bedroom
- Features: Flooring (Carpet)
- Level: Main
- Area: 143
- Dimensions: 13X11
Property
Accessibility
- Accessibility features: No Disability Access
Details
- Parcel number: 0622207020
- Special condition: None
Features
- Stories: 1
Lot
- Lot size: 6,600 sqft
- Features: Mature Trees
- Lot size dimensions: 50X132
Parking
- Total spaces: 2
- Parking features: Garage Door Opener,Yes,Garage Owned,Detached,Garage
- Has garage: Yes
- Attached garage spaces: 2
- Covered spaces: 2
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Tornado
- Inland Flooding
- Lightning
How This Home’s Risks Compare
FEMA Declared Disasters Across Illinois Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,238 | $14,856 |
| Home Insurance * | $109 | $1,308 |
| Property Taxes | $445 | $5,340 |
| Electricity | $130 | $1,569 |
| Total | $1,922 | $23,064 |
Income You'd Need if You Spent...
Illinois FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-12 | Listed for sale | $245,000 |
| 2026-08-05 | Contingent | $245,000 |
| 2026-07-31 | Listed for sale | $245,000 |
| 2010-02-24 | Sold | $58,000 |
| 2006-08-11 | Sold | $169,500 |
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