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Peabody 01960 Peabody Town Center
11 Melody Rd
$500,000
● House - Off Market

11 Melody Rd

Peabody, MA 01960
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,650 Ft²
$533,174
RealtyHop Estimate
6.85%
Since Mar 1, 2022
MA-Boston
Primary Model

About This Property

Charming 3 Bedroom ranch  located in a desirable and conveniently located in Gardner Park neighborhood.  Large windows let in an abundance of sunlight to kitchen and living area. The first floor features hardwood floors, an eat-in kitchen, fire-placed living room, three spacious bedrooms and full bath. Off the kitchen is a three season sun room  overlooking a beautifully landscaped, fenced-in backyard. The full basement is finished with an additional bedroom, bath, living room, family room, laundry area and private entrance, which makes this a great teen suite or for extended family members.  The property is close to parks, walking trails and easy access to major highways.
Unit Size
1,650 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$302
Property Type
House
Property Taxes
$327
HOA Dues
-
Year Built
1963

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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 #72914606)

Price History

Date / Event Date Event Price
Feb 14, 2022 Sold
Premium
Sold
Nov 15, 2021 Listed by Cameron Real Estate Group $499,000
Listed by Cameron Real Estate Group
Oct 19, 1998 Sold
Premium
Sold

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1963
  • Effective Year Built: 1963
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,181
  • Total Building Area: 1,040
  • Gross Building Area: 1,040
  • Building Area: 1,040
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,040
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000142
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Peabody School District
  • School Tax School District: PEABODY SD
  • Census Tract: 210900

Zoning

  • Zoning: R1A

Geography

  • Account Number: 7687
  • Parcel: PEAB M:0065 B:0050
  • Block: 50
  • Municipality: PEABODY
  • Latitude: 42.5337
  • Longitude: -70.9208

    Address

  • Full Address: 11 Melody Rd
  • Address - House Number: 11
  • Address - Street Name: Melody
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Peabody
  • Carrier Code: C007
  • 4-Digit Zip Code: 3202
  • Zip Code: 01960

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $452,100
  • Initial Tax Delinquent Year: 2023

    Appraisal Valuation

  • Standard Deviation: 0.1784
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 76
  • Final Value: 567,350
  • High Value: 668,609
  • Low Value: 466,090

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $495,700
  • Assessed Land Value: $229,000
  • Assessed Improvements Value: $266,700

    Sales

  • Current Sale Contract Date: Feb 11, 2022
  • Current Sale Recording Date: Feb 14, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20220214005790
  • Previous Sale Recording Date: Oct 19, 1998
  • Previous Sale Amount: $150,000
  • 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 Peabody Town Center

Stats & Trends

Median Asking:

$579,900

Sale Price/ft²

$388

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1947 ft²

Average Home Age

87.8 years

Currently For Sale

15 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 160 Federal St, Salem, MA, 01970

$1,725 /mo

  • 1 Bed
  • 1 Bath
160 Federal St, Salem, MA, 01970 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# 72914606

Frequently Asked Questions

When was property at 11 Melody Road built and last sold?
The property at 11 Melody Road was built in 1963 and last sold on Feb 11, 2022 for $500,000.
How much is this home worth?
The estimated value of the home located at 11 Melody Road is $505,843.
What are some comparable homes to 11 Melody Road?
There are currently no comparable homes to 11 Melody Road.
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