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Saturday, November 2, 2024

Market Watch: Todd Rabourn loses over $14,000 on sale of Naperville home after owning it for a little over a year

Riverwoodsdrnaperville

2260 River Woods Drive, Naperville | Zillow

2260 River Woods Drive, Naperville | Zillow

Illinois' highest-in-the-nation property taxes are eroding home equity and depressing home values across the state. This report is part of a SYHN News Service series on recent home sales that demonstrate the consequences.

The home: 2260 River Woods Drive, Naperville

The 2,636-square-foot home has 4 bedrooms, 3  baths, a 3-car garage, a finished basement and is located in the popular Riverwoods subdivision.

The seller: Todd E. Rabourn

The purchase: In November 2017, Rabourn paid $510,000 for the home, or roughly $519,436 in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, Rabourn sold the home for $505,000 on Jan.11, or an estimated $14,436 less than the original purchase price, in today's dollars.

Rabourn originally listed the home for $429,900 in September 2018.

The property taxes: Based on data compiled from Blockshopper.com and Zillow, Rabourn paid $10,029  in property taxes in 2017, or approximately 2 percent of the sale price.

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The Financial Facts in Today’s Dollars

Seller's Purchase Price

Amount Home Sold for in 2019

Seller’s Property Taxes

$510,000

$505,000

$10,029

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