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Melrose 02176 Oak Grove - Pine Banks
16 Chestnut Pk.
$456,000
● House - Off Market

16 Chestnut Pk.

Melrose, MA 02176
bedrooms
5 Beds
bathrooms
2 Baths
square feet
2,962 Ft²
$957,328
RealtyHop Estimate
108.16%
Since Jan 1, 2013
MA-Boston
Primary Model

About This Property

Turn of the century 11 room Victorian home located on Chestnut Park, a quiet cul-de-sac. 1st fl.:  oversized kitchen, LR, DR and full bath.  LR and DR both have unique working fireplaces.  2nd fl. has 4 spacious bedrooms and a full bath.  3rd floor has 4 rooms for a great get away for children or au pair suite. All original period details, incl. "craftsman style" batten wainscoting and clear finished woodwork.  Hardwood flooring throughout, vinyl siding and replacement windows.
Unit Size
2,962 Ft²
Days on Market
-
Land Size
0.15 acres
Price per sqft
$155
Property Type
House
Property Taxes
$485
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 #71440104)

Price History

Date / Event Date Event Price
Dec 14, 2012 Sold
Premium
Sold
Sep 26, 2012 Listed by Century 21 Crowley - Braese $459,900
Listed by Century 21 Crowley - Braese

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1900
  • Building Count: 1
  • Total Rooms: 10
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 10
  • Roof Cover Type: 15
  • Floor Count: 300
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,078
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,643
  • Total Building Area: 2,710
  • Gross Building Area: 4,720
  • Building Area: 2,710
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,710
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000153
  • 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: 336404

Zoning

  • Zoning: URA

Geography

  • District: 178
  • Parcel: MELR M:0C6 P:0000131
  • Municipality: MELROSE
  • Latitude: 42.4521
  • Longitude: -71.0651

    Address

  • Full Address: 16 Chestnut Park
  • Address - House Number: 16
  • Address - Street Name: Chestnut
  • Address - Suffix Type: Park
  • State: MA
  • City Name: Melrose
  • Carrier Code: C029
  • 4-Digit Zip Code: 4648
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $872,000
  • Initial Tax Delinquent Year: 2023

    Appraisal Valuation

  • Standard Deviation: 0.1561
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 80
  • Final Value: 918,213
  • High Value: 1,061,557
  • Low Value: 774,869

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $878,100
  • Assessed Land Value: $467,400
  • Assessed Improvements Value: $410,700

    Sales

  • Current Sale Recording Date: Dec 14, 2012
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 00000027
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 Oak Grove - Pine Banks

Stats & Trends

Median Asking:

$850,000

Sale Price/ft²

$444

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1869 ft²

Average Home Age

48 years

Currently For Sale

4 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
Unit for rent at 75 Pleasant St, Stoneham, 02180

$1,500 /mo

  • Studio
  • 1 Bath
75 Pleasant St, Stoneham, 02180 Listing by Inbound Real Estate

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 71440104

Frequently Asked Questions

When was property at 16 Chestnut Park built and last sold?
The property at 16 Chestnut Park was built in 1900 and last sold on Jan 1, 1970 for $456,000.
How much is this home worth?
The estimated value of the home located at 16 Chestnut Park is $465,021.
What are some comparable homes to 16 Chestnut Park?
There are currently no comparable homes to 16 Chestnut Park.
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