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Lynnfield 01940
2 Michaels Road
$894,500
● House - Off Market

2 Michaels Road

Lynnfield, MA 01940
bedrooms
3 Beds
bathrooms
3 Baths
square feet
3,234 Ft²
$824,017
RealtyHop Estimate
3.01%
Since Apr 1, 2023
MA-Boston
Primary Model

About This Property

This Raised Ranch has an Open Floor Plan and Loads of Space!  The Extra Large Sunken Living Room with Floor to Ceiling Brick Fireplace has Hints of the Popular Mid-Century Modern Style.  The White Kitchen has exposed Brick and Opens to Dining Room, Den, into Cozy Family Room.  Gleaming Hardwood Floors Throughout, Including the Bedrooms.   The 3 Bedrooms are Large! 3 Full Baths in Neutral Colored Tile (2 up, 1 down).  Untapped Potential in the Lower Level with Stone Fireplace, bath and laundry! In-law? Man Cave? Playroom? 2 Car Garage and Nice Storage.  Additional Features Include: Deck with Motorized Awning, Central A/C, Security System, Cedar Closet, Irrigation System Fed by Private Irrigation Well, Professionally Landscaped Corner Lot.
Unit Size
3,234 Ft²
Days on Market
-
Land Size
0.39 acres
Price per sqft
$247
Property Type
House
Property Taxes
$637
HOA Dues
-
Year Built
1956

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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 #73080984)

Price History

Date / Event Date Event Price
Mar 30, 2023 Sold
Premium
Sold
Mar 1, 2023 In contract -
In contract
Feb 22, 2023 Listed by Coldwell Banker Realty - Lynnfield $799,900
Listed by Coldwell Banker Realty - Lynnfield

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1956
  • Effective Year Built: 1956
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 8
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 3,632
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 17,058
  • Total Building Area: 3,234
  • Gross Building Area: 4,884
  • Building Area: 3,234
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 3,234
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000392
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Lynnfield School District
  • School Tax School District: LYNNFIELD SD
  • Census Tract: 209100

Zoning

  • Zoning: RA

Geography

  • District: 164
  • Parcel: LYNF M:0046 B:0000 L:0279
  • Lot: 279
  • Municipality: LYNNFIELD
  • Latitude: 42.5209
  • Longitude: -71.0223

    Address

  • Full Address: 2 Michaels Rd
  • Address - House Number: 2
  • Address - Street Name: Michaels
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Lynnfield
  • Carrier Code: C014
  • 4-Digit Zip Code: 2030
  • Zip Code: 01940

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $758,600

    Appraisal Valuation

  • Standard Deviation: 0.1743
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 965,453
  • High Value: 1,133,563
  • Low Value: 797,343

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $721,800
  • Assessed Land Value: $443,100
  • Assessed Improvements Value: $278,700

    Sales

  • Current Sale Contract Date: Mar 30, 2023
  • Current Sale Recording Date: Mar 30, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20230330002280
  • Previous Sale Recording Date: Jun 01, 2018
  • Previous Sale Document Type: 27
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 Lynnfield

Stats & Trends

Median Asking:

$999,995

Sale Price/ft²

$400

Below Asking

0.02%

Average Days on Market

56

Average Home Size

3525 ft²

Average Home Age

50.2 years

Currently For Sale

26 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# 73080984

Frequently Asked Questions

When was property at 2 Michaels Road built and last sold?
The property at 2 Michaels Road was built in 1956 and last sold on Mar 30, 2023 for $894,500.
How much is this home worth?
The estimated value of the home located at 2 Michaels Road is $853,386.
What are some comparable homes to 2 Michaels Road?
There are currently no comparable homes to 2 Michaels Road.
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