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Peabody 01960 Peabody Town Center
2 Palmer Ave
$555,000
● House - Off Market

2 Palmer Ave

Peabody, MA 01960
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,374 Ft²
$495,072
RealtyHop Estimate
-0.79%
Since Nov 1, 2023
MA-Boston
Primary Model

About This Property

Welcome to this Solid Home in Peabody's Desirable Emerson Park neighborhood!  This home features 3 beds, 1.5 Bath, and 1374 sq ft.  Put your personal touch on this home with some TLC and gain sweat equity when doing so!  Large Kitchen with Well-Maintained Cabinets, Granite Countertops, Breakfast Bar, and Recessed Lighting.  Hardwood Floors throughout, including under the carpets.  Open Concept Kitchen/Dining Room/Living Room with high ceilings.  Farmer's Porch for the warm months.  Good size yard with beautiful landscaping and paver patio.  Walking distance to James St. Park, Higgins Middle School, and vibrant Downtown Peabody.  Conveniently located close to Rt. 1 and 128, as well as Salem's MBTA Commuter Rail.  This is your opportunity to update to your liking while gaining equity!
Unit Size
1,374 Ft²
Days on Market
-
Land Size
0.15 acres
Price per sqft
$363
Property Type
House
Property Taxes
$355
HOA Dues
-
Year Built
1917

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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: 6 months ago (MLSPIN #73151954)

Price History

Date / Event Date Event Price
Oct 3, 2023 Sold
Premium
Sold
Aug 29, 2023 In contract -
In contract
Aug 24, 2023 Listed by RE/MAX 360 $499,000
Listed by RE/MAX 360
Mar 26, 1997 Sold
Premium
Sold

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1917
  • Effective Year Built: 1917
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 16
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,395
  • Total Building Area: 1,374
  • Gross Building Area: 1,374
  • Building Area: 1,374
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,374
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000147
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Peabody School District
  • School Tax School District: PEABODY SD
  • Census Tract: 210402

Zoning

  • Zoning: R2

Geography

  • Account Number: 10268
  • Parcel: PEAB M:0084 B:0092
  • Block: 92
  • Municipality: PEABODY
  • Latitude: 42.5262
  • Longitude: -70.9359

    Address

  • Full Address: 2 Palmer Ave
  • Address - House Number: 2
  • Address - Street Name: Palmer
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Peabody
  • Carrier Code: C046
  • 4-Digit Zip Code: 5332
  • Zip Code: 01960

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $462,700

    Appraisal Valuation

  • Standard Deviation: 0.1579
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 75
  • Final Value: 595,171
  • High Value: 704,857
  • Low Value: 485,485

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $507,400
  • Assessed Land Value: $230,600
  • Assessed Improvements Value: $276,800

    Sales

  • Current Sale Contract Date: Oct 03, 2023
  • Current Sale Recording Date: Oct 03, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20231003002500
  • Previous Sale Recording Date: Mar 26, 1997
  • Previous Sale Amount: $160,000
  • 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 Peabody Town Center

Stats & Trends

Median Asking:

$542,450

Sale Price/ft²

$390

Below Asking

0.01%

Average Days on Market

53

Average Home Size

1454 ft²

Average Home Age

79.8 years

Currently For Sale

19 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: 6 months ago
Data Source: MLS PIN, MLS# 73151954

Frequently Asked Questions

When was property at 2 Palmer Avenue built and last sold?
The property at 2 Palmer Avenue was built in 1917 and last sold on Oct 3, 2023 for $555,000.
How much is this home worth?
The estimated value of the home located at 2 Palmer Avenue is $512,327.
What are some comparable homes to 2 Palmer Avenue?
There are currently no comparable homes to 2 Palmer Avenue.
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