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Needham 02492
1688 Central Ave
$1,200,000
● Land - Off Market

1688 Central Ave

Needham, MA 02492
bedrooms
Studio
bathrooms
0 Bath
$2,353,841
RealtyHop Estimate
38.46%
Since May 1, 2020
MA-Boston
Primary Model

About This Property

Beautiful 3.47 acre parcel located on desirable Central Avenue.  Property has existing home, large barn and garage.  Unique opportunity for development of potentially two homes.  All due diligence including approval and permitting rests with the buyer.  Property is being sold as is.
Unit Size
-
Days on Market
-
Land Size
3.47 acres
Price per sqft
-
Property Type
Land
Property Taxes
$734
HOA Dues
-
Year Built
1904

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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 #72559296)

Price History

Date / Event Date Event Price
Apr 15, 2020 Sold
Premium
Sold
Sep 4, 2019 Listed by Great Estates Realty, Inc. $1,700,000
Listed by Great Estates Realty, Inc.

Property Highlights

Building Info

Overview

    General

  • Year Built: 1904
  • Effective Year Built: 1980
  • Total Rooms: 6
  • Bedroom Count: 4
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 2
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 16
  • Exterior Walls Type: 11
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 995
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 151,153
  • Total Building Area: 1,663
  • Gross Building Area: 2,656
  • Building Area: 1,663
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,663
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000003470
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Needham School District
  • School Tax School District: NEEDHAM SD
  • Census Tract: 403300

Zoning

  • Zoning: SRA

Geography

  • Parcel: NEED M:213.0 B:0006 L:0000.0
  • Block: 6
  • Municipality: NEEDHAM
  • Latitude: 42.2684
  • Longitude: -71.2663

    Address

  • Full Address: 1688 Central Ave
  • Address - House Number: 1688
  • Address - Street Name: Central
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Needham
  • Carrier Code: C018
  • 4-Digit Zip Code: 1468
  • Zip Code: 02492

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,354,300
  • Initial Tax Delinquent Year: 2021

    Appraisal Valuation

  • Standard Deviation: 0.1515
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 81
  • Final Value: 1,510,831
  • High Value: 1,739,776
  • Low Value: 1,281,886

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,038,600
  • Assessed Land Value: $873,800
  • Assessed Improvements Value: $164,800

    Sales

  • Current Sale Contract Date: Mar 25, 2020
  • Current Sale Recording Date: Apr 15, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 33355
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 Needham

Stats & Trends

Median Asking:

$1,600,000

Sale Price/ft²

$533

Below Asking

0.01%

Average Days on Market

64

Average Home Size

4359 ft²

Average Home Age

36.6 years

Currently For Sale

66 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

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Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 72559296

Frequently Asked Questions

When was property at 1688 Central Avenue built and last sold?
The property at 1688 Central Avenue was built in 1904 and last sold on Mar 25, 2020 for $1,200,000.
How much is this home worth?
The estimated value of the home located at 1688 Central Avenue is $1,717,000.
What are some comparable homes to 1688 Central Avenue?
There are currently no comparable homes to 1688 Central Avenue.
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