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Essex
1 Bancroft Ln
$425,000
● House - Off Market

1 Bancroft Ln

Merrimac, MA 01860
bedrooms
5 Beds
bathrooms
3 Baths
square feet
3,055 Ft²
$853,781
RealtyHop Estimate
98.60%
Since Jun 1, 2013
National-US
Primary Model

About This Property

A must see updated extended Cape with river views and in-law possibilities. Located at the corner of River Rd and Bancroft Lane, this updated home has amazing views of the Merrimack River. Recent updates include Kraftmaid kitchen cabinets, granite counter tops, first floor laundry, two heating systems, vinyl siding, Harvey windows, roof and a sun room to enjoy the views of the Merrimack. The back yard has an in ground pool with new filter, pump and liner. The in-law offers income potential.
Unit Size
3,055 Ft²
Days on Market
-
Land Size
0.59 acres
Price per sqft
$141
Property Type
House
Property Taxes
$487
HOA Dues
-
Year Built
1959

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 5 months ago (MLSPIN #71499003)

Price History

Date / Event Date Event Price
May 15, 2013 Sold
Premium
Sold
Mar 26, 2013 Listed by Competitive Edge Real Estate Services $429,900
Listed by Competitive Edge Real Estate Services
Mar 15, 2000 Sold
Premium
Sold
Jan 18, 2000 Listed by Competitive Edge Real Estate Services $349,900
Listed by Competitive Edge Real Estate Services

Property Highlights

Parking Available
Air Conditioning
Fireplace
Garage

Building Info

Overview

    General

  • Year Built: 1959
  • Effective Year Built: 1959
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 4
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,820
  • Garage Type: 17
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 25,892
  • Total Building Area: 3,055
  • Gross Building Area: 5,076
  • Building Area: 3,055
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 3,055
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MERRIMAC
  • Land Acres: 0000000594
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Pentucket School District
  • Census Tract: 262100

Zoning

  • Zoning: SR

Geography

  • District: 180
  • Parcel: MERR M:0035 B:0002 L:004-A
  • Block: 2
  • Lot: 4-A
  • Municipality: MERRIMAC
  • Latitude: 42.826
  • Longitude: -70.9824

    Address

  • Full Address: 1 Bancroft Ln
  • Address - House Number: 1
  • Address - Street Name: Bancroft
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Merrimac
  • Carrier Code: C002
  • 4-Digit Zip Code: 2402
  • Zip Code: 01860

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,037,100

    Appraisal Valuation

  • Standard Deviation: 0.1574
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 80
  • Final Value: 830,138
  • High Value: 960,586
  • Low Value: 699,689

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $768,200
  • Assessed Land Value: $386,700
  • Assessed Improvements Value: $381,500

    Sales

  • Current Sale Recording Date: May 15, 2013
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Previous Sale Recording Date: Mar 15, 2000
  • Previous Sale Amount: $343,900
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Essex

Stats & Trends

Median Asking:

$699,000

Sale Price/ft²

$384

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2522 ft²

Average Home Age

72.8 years

Currently For Sale

1493 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 71499003

Frequently Asked Questions

When was property at 1 Bancroft Lane built and last sold?
The property at 1 Bancroft Lane was built in 1959 and last sold on Jan 1, 1970 for $425,000.
How much is this home worth?
The estimated value of the home located at 1 Bancroft Lane is $435,835.
What are some comparable homes to 1 Bancroft Lane?
There are currently no comparable homes to 1 Bancroft Lane.
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