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Essex 01810
116 Lovejoy
$605,000
● House - Off Market

116 Lovejoy

Andover, MA 01810
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,510 Ft²
$524,900
RealtyHop Estimate
0.00%
Since Dec 1, 2023
MA-Boston
Primary Model

About This Property

A great opportunity for a starter home! This 3 bedroom, 1.75 bath ranch is looking for discerning home owners who can transform it into a delightful home.With an open floor plan that is great for entertaining,featuring a generous size dining room , kitchen, living room with a fire place, a home office/handyman's work area ,laundry room and 1 car garage. Sitting on an .35 acre lot with a patio, garden & private backyard, the perfect size to enjoy outdoor fun without being too much work. Located in a prime Andover neighborhood within walking distance to the Sanborn elementary school. Minutes away from rte. 93 and the commuter rail makes it a convenient location for commuters going to Boston or NH. Easy to show.OFFERS DUE WEDNESDAY,9/20,by 3:00.
Unit Size
1,510 Ft²
Days on Market
-
Land Size
0.36 acres
Price per sqft
$348
Property Type
House
Property Taxes
$572
HOA Dues
-
Year Built
1961

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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 #73160405)

Price History

Date / Event Date Event Price
Nov 7, 2023 Sold
Premium
Sold
Sep 22, 2023 In contract -
In contract
Sep 18, 2023 Listed by Berkshire Hathaway HomeServices Verani Realty $524,900
Listed by Berkshire Hathaway HomeServices Verani Realty

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1961
  • Effective Year Built: 1961
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 15,625
  • Total Building Area: 1,510
  • Gross Building Area: 1,798
  • Building Area: 1,510
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,510
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000359
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Andover School District
  • Census Tract: 254403

Zoning

  • Zoning: SRB

Geography

  • Parcel: ANDO M:00152 B:00004 L:00000
  • Block: 4
  • Municipality: ANDOVER
  • Latitude: 42.6456
  • Longitude: -71.1789

    Address

  • Full Address: 116 Lovejoy Rd
  • Address - House Number: 116
  • Address - Street Name: Lovejoy
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Andover
  • Carrier Code: C012
  • 4-Digit Zip Code: 4530
  • Zip Code: 01810

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $686,600

    Appraisal Valuation

  • Standard Deviation: 0.1592
  • Valuation Date: Mar 27, 2024
  • Confidence Score: 80
  • Final Value: 649,401
  • High Value: 752,841
  • Low Value: 545,960

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $502,600
  • Assessed Land Value: $338,100
  • Assessed Improvements Value: $164,500

    Sales

  • Current Sale Contract Date: Nov 07, 2023
  • Current Sale Recording Date: Nov 07, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 18496

    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 Essex

Stats & Trends

Median Asking:

$699,000

Sale Price/ft²

$384

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2541 ft²

Average Home Age

72.9 years

Currently For Sale

1497 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# 73160405

Frequently Asked Questions

When was property at 116 Lovejoy Road built and last sold?
The property at 116 Lovejoy Road was built in 1961 and last sold on Nov 7, 2023 for $605,000.
How much is this home worth?
The estimated value of the home located at 116 Lovejoy Road is $542,574.
What are some comparable homes to 116 Lovejoy Road?
There are currently no comparable homes to 116 Lovejoy Road.
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