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Melrose 02176 Mount Hood
1 Patrick's Place
$1,735,000
● House - Off Market

1 Patrick's Place

Melrose, MA 02176
bedrooms
4 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
3,518 Ft²
$1,745,475
RealtyHop Estimate
-0.26%
Since Aug 1, 2023
MA-Boston
Primary Model

About This Property

Open House 12/4 noon to 2pm. Looking for a new home in Melrose on a cul-de-sac ?  Quality built new construction in new nine lot Patrick's Place. Three car garage under home with split stair case, sun room, 1st floor study and 4 good sized bedrooms. Plenty of time and options to customize to your needs. Close to public transportation and highways. Five lots are sold - four lots available for your consideration.  Lot #7 spring 2023. Various prices and plans - see LB for more information. AKA Lot #9.
Unit Size
3,518 Ft²
Days on Market
-
Land Size
0.65 acres
Price per sqft
$497
Property Type
House
Property Taxes
-
HOA Dues
$17
Year Built
2023

Payment Calculator

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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: 4 months ago (MLSPIN #73043160)

Price History

Date / Event Date Event Price
Jul 27, 2023 Sold
Premium
Sold
Dec 9, 2022 In contract -
In contract
Sep 30, 2022 Listed by Keller Williams Realty $1,750,000
Listed by Keller Williams Realty

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2023
  • Effective Year Built: 2023
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,496
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 28,257
  • Lot Size Frontage Feet: 0
  • Total Building Area: 3,892
  • Gross Building Area: 6,332
  • Building Area: 3,892
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 3
  • Heated Square Feet: 3,892
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000649
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Melrose School District
  • School Tax School District: MELROSE SD
  • Census Tract: 336300

Zoning

  • Zoning: SRA

Geography

  • Parcel: MELR M:0G3 P:0000049
  • Municipality: MELROSE
  • Latitude: 42.4446
  • Longitude: -71.046

    Address

  • Full Address: 1 Patricks Pl
  • Address - House Number: 1
  • Address - Street Name: Patricks
  • Address - Suffix Type: Pl
  • State: MA
  • City Name: Melrose
  • Carrier Code: C025
  • 4-Digit Zip Code: 5535
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,727,600

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $1,739,800
  • Assessed Land Value: $561,700
  • Assessed Improvements Value: $1,178,100

    Sales

  • Current Sale Contract Date: Jul 27, 2023
  • Current Sale Recording Date: Jul 27, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 83648

    Financing

  • First Mortgage Financing Type: ADJ
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 Mount Hood

Stats & Trends

Median Asking:

$997,500

Sale Price/ft²

$442

Below Asking

0.01%

Average Days on Market

53

Average Home Size

2104 ft²

Average Home Age

107 years

Currently For Sale

2 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

Unit for rent at 195 Pleasant St, MA, 02148

$1,670 /mo

  • 1 Bed
  • 1 Bath
195 Pleasant St, MA, 02148 Listing by Rick Rivera

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 73043160

Frequently Asked Questions

When was property at 1 Patrick's Place built and last sold?
The property at 1 Patrick's Place was built in 2023 and last sold on Jul 27, 2023 for $1,735,000.
How much is this home worth?
The estimated value of the home located at 1 Patrick's Place is $1,750,001.
What are some comparable homes to 1 Patrick's Place?
There are currently no comparable homes to 1 Patrick's Place.
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