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Melrose 02176 Melrose East Side
115 Highview Avenue
$615,000
● House - Off Market

115 Highview Avenue

Melrose, MA 02176
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,621 Ft²
$3,503
Est. Monthly

About This Property

Oh, what a worthy project it will be! Contractors take note of this opportunity! Desirable Mount Hood location offers this rough diamond, awaiting to be restored! Older, Colonial style home is in need of significant updating and repair. This home features 3 bedrooms, 1.5 baths, high ceilings and generous sized rooms. The large entry porch leads to a welcoming foyer and a spacious 1st floor layout encompassing the living room, dining room, kitchen and 1/2 bath. Second floor with 3 bedrooms, a full bath and walk-up attic access. Driveway can fit 3 cars and there is a small garage (being used for storage.) Nice sized, flat yard perfect for outdoor enjoyment. The bones are good - heating system is <2 years old, oil tank 3 years old, hot water tank new in 2016. Roll up your sleeves - opportunity awaits!
Unit Size
1,621 Ft²
Days on Market
-
Land Size
0.15 acres
Price per sqft
$370
Property Type
House
Property Taxes
$561
HOA Dues
-
Year Built
1900

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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 #73183951)

Price History

Date / Event Date Event Price
Jan 10, 2024 Sold
Premium
Sold
Dec 6, 2023 In contract -
In contract
Nov 30, 2023 Listed by Leading Edge Real Estate $599,000
Listed by Leading Edge Real Estate
Aug 2, 1990 Sold
Premium
Sold

Property Highlights

Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1900
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 1
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 676
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,342
  • Total Building Area: 1,621
  • Gross Building Area: 2,928
  • Building Area: 1,621
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,621
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000146
  • 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: URA

Geography

  • Parcel: MELR M:0F8 P:0000072
  • Municipality: MELROSE
  • Latitude: 42.4586
  • Longitude: -71.0478

    Address

  • Full Address: 115 Highview Ave
  • Address - House Number: 115
  • Address - Street Name: Highview
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Melrose
  • Carrier Code: C015
  • 4-Digit Zip Code: 4134
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $669,300

    Appraisal Valuation

  • Standard Deviation: 0.0784
  • Valuation Date: Mar 27, 2024
  • Confidence Score: 94
  • Final Value: 619,675
  • High Value: 668,314
  • Low Value: 571,036

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $674,000
  • Assessed Land Value: $424,700
  • Assessed Improvements Value: $249,300

    Sales

  • Current Sale Contract Date: Jan 03, 2024
  • Current Sale Recording Date: Jan 10, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 3016
  • Previous Sale Recording Date: Aug 02, 1990
  • Previous Sale Amount: $154,000
  • 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 Melrose East Side

Stats & Trends

Median Asking:

$949,900

Sale Price/ft²

$454

Below Asking

0.01%

Average Days on Market

44

Average Home Size

2104 ft²

Average Home Age

97.5 years

Currently For Sale

8 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: 4 months ago
Data Source: MLS PIN, MLS# 73183951

Frequently Asked Questions

When was property at 115 Highview Avenue built and last sold?
The property at 115 Highview Avenue was built in 1900 and last sold on Jan 3, 2024 for $615,000.
How much is this home worth?
The estimated value of the home located at 115 Highview Avenue is $618,343.
What are some comparable homes to 115 Highview Avenue?
There are currently no comparable homes to 115 Highview Avenue.
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