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Lawrence 01841 Prospect Hill - Back Bay
15 Hoffman Avenue
$395,000
● House - Off Market

15 Hoffman Avenue

Lawrence, MA 01841
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,636 Ft²
$578,925
RealtyHop Estimate
46.56%
Since Oct 1, 2019
National-US
Primary Model

About This Property

Attention Developers!  This property is potentially subdividedable by right. This is the most versatile listing you'll come across!  The old family home has served this family well but now it's time for another family to make it their own.  And we have options!! OPTION 1: Single Family home, sitting on 1/2 acre with in-ground pool and easy access to Rte 495. OPTION 2:  Easily turned back into a 2-family all connections are easily accessible. OPTION 3: The property consists of 4 lots to make it .46 acres, a yard size hard to come by in Prospect Hill.  What do you need? options  Don't look any further, weigh your Options and Come see us, one size fits all !
Unit Size
1,636 Ft²
Days on Market
-
Land Size
0.46 acres
Price per sqft
$241
Property Type
House
Property Taxes
$328
HOA Dues
-
Year Built
1905

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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 #72523178)

Price History

Date / Event Date Event Price
Dec 2, 2019 Sold
Premium
Sold
Sep 23, 2019 Sold
Premium
Sold
Jun 21, 2019 Listed by Lamacchia Realty, Inc. $395,000
Listed by Lamacchia Realty, Inc.

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1905
  • Effective Year Built: 1905
  • Building Count: 1
  • Total Rooms: 9
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 16
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 2
  • 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: 10,000
  • Total Building Area: 1,636
  • Gross Building Area: 3,448
  • Building Area: 1,636
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,636
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LAWRENCE
  • Land Acres: 0000000230
  • Standard Land Use Code: 1101
  • County Land Use Code: 104

Neighborhood

  • School District Name: Lawrence School District
  • School Tax School District: LAWRENCE SD
  • Census Tract: 250800

Geography

  • Account Number: 33 0000 0015 A
  • Parcel: LAWR M:0033 B:0000 L:0015
  • Lot: 15
  • Municipality: LAWRENCE
  • Latitude: 42.7199
  • Longitude: -71.1411

    Address

  • Full Address: 15 Hofmann Ave
  • Address - House Number: 15
  • Address - Street Name: Hofmann
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Lawrence
  • Carrier Code: C018
  • 4-Digit Zip Code: 1505
  • Zip Code: 01841

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $456,500

    Appraisal Valuation

  • Standard Deviation: 0.1809
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 76
  • Final Value: 563,740
  • High Value: 665,743
  • Low Value: 461,737

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $493,500
  • Assessed Land Value: $150,800
  • Assessed Improvements Value: $342,700

    Sales

  • Current Sale Contract Date: Nov 22, 2019
  • Current Sale Recording Date: Dec 02, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 30319
  • Previous Sale Recording Date: Sep 23, 2019
  • Previous Sale Contract Date: Sep 14, 2019
  • Previous Sale Amount: $395,000
  • Previous Sale Document Type: O
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 Prospect Hill - Back Bay

Stats & Trends

Median Asking:

$552,000

Sale Price/ft²

$325

Above Asking

0.00%

Average Days on Market

47

Average Home Size

1324 ft²

Average Home Age

81.9 years

Currently For Sale

7 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# 72523178

Frequently Asked Questions

When was property at 15 Hoffman Avenue built and last sold?
The property at 15 Hoffman Avenue was built in 1905 and last sold on Nov 22, 2019 for $329,000.
How much is this home worth?
The estimated value of the home located at 15 Hoffman Avenue is $410,682.
What are some comparable homes to 15 Hoffman Avenue?
There are currently no comparable homes to 15 Hoffman Avenue.
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