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Essex 01951
2 Cottage Rd
$585,000
● Land - Off Market

2 Cottage Rd

Newbury, MA 01951
bedrooms
Studio
bathrooms
0 Bath
$639,428
RealtyHop Estimate
2.31%
Since Aug 1, 2022
National-US
Primary Model

About This Property

Beautifully situated in the coveted Lower Green area of Newbury this level cleared lot offers the opportunity to build your dream home. Close to all local amenities and to Old Town Hill and the Parker River boat launch, enjoy everything that this vibrant locale offers while also enjoying the bucolic county setting.  A large barn awaits your design ideas. There is an approved 4-bedroom septic design in hand and the well has already been installed.
Unit Size
-
Days on Market
-
Land Size
0.93 acres
Price per sqft
-
Property Type
Land
Property Taxes
$347
HOA Dues
-
Year Built
2023

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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 #72965372)

Price History

Date / Event Date Event Price
Jul 8, 2022 Sold
Premium
Sold
Apr 11, 2022 Listed by Molisse Realty Group LLC $625,000
Listed by Molisse Realty Group LLC
Jul 21, 2021 Sold
Premium
Sold
Jun 1, 2021 Listed by Molisse Realty Group LLC $599,000
Listed by Molisse Realty Group LLC

Property Highlights

Building Info

Overview

    General

  • Year Built: 2023
  • Effective Year Built: 2023
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 4
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,040
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 40,371
  • Lot Size Frontage Feet: 0
  • Total Building Area: 1,040
  • Gross Building Area: 3,160
  • Building Area: 1,040
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,040
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000927
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Triton School District
  • School Tax School District: TRITON SD
  • Census Tract: 269100

Geography

  • Parcel: NEWB M:0R11 B:0000 L:0070A
  • Lot: 70A
  • Municipality: NEWBURY
  • Latitude: 42.7665
  • Longitude: -70.8462

    Address

  • Full Address: 2 Cottage Rd
  • Address - House Number: 2
  • Address - Street Name: Cottage
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Newbury
  • Carrier Code: C012
  • 4-Digit Zip Code: 2303
  • Zip Code: 01951

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $667,100

    Appraisal Valuation

  • Standard Deviation: 0.1615
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 79
  • Final Value: 686,905
  • High Value: 797,860
  • Low Value: 575,951

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $868,600
  • Assessed Land Value: $545,200
  • Assessed Improvements Value: $323,400

    Sales

  • Current Sale Contract Date: Jul 08, 2022
  • Current Sale Recording Date: Jul 08, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20220708003690
  • Previous Sale Recording Date: Jul 21, 2021
  • Previous Sale Contract Date: Jul 20, 2021
  • Previous Sale Amount: $565,000
  • 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 Essex

Stats & Trends

Median Asking:

$699,000

Sale Price/ft²

$384

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2602 ft²

Average Home Age

73.3 years

Currently For Sale

1409 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# 72965372

Frequently Asked Questions

When was property at 2 Cottage Road built and last sold?
The property at 2 Cottage Road was built in 2023 and last sold on Jul 8, 2022 for $585,000.
How much is this home worth?
The estimated value of the home located at 2 Cottage Road is $631,250.
What are some comparable homes to 2 Cottage Road?
There are currently no comparable homes to 2 Cottage Road.
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