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Melrose 02176 Melrose East Side
2 Spear St
$820,000
● House - Off Market

2 Spear St

Melrose, MA 02176
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
2,000 Ft²
$830,276
RealtyHop Estimate
3.91%
Since Apr 1, 2022
MA-Boston
Primary Model

About This Property

A unique opportunity to own an impeccably maintained Melrose Victorian!  This corner lot oasis has charm to spare.  Featuring a quarter-acre lot, swimming pool and a patio. Original hardwood floors, stunning natural light and 10-foot ceilings.  The first floor features a living room, dining room combo; updated kitchen complete with an island and a bonus sunroom currently used as a home office with views of Boston!  Plus, a half bath.  The 2nd floor has 3 large bedrooms and a full bath.   The finished 3rd floor is a perfect space for an additional office, bedroom, hobby room or upgraded to become a full master suite. Located walking distance to Hoover Elementary School, minutes from Oak Grove and everything downtown Melrose has to offer!  Open houses this weekend Friday, Saturday & Sunday 11am-12:30pm.
Unit Size
2,000 Ft²
Days on Market
-
Land Size
0.25 acres
Price per sqft
$400
Property Type
House
Property Taxes
$507
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 #72948621)

Price History

Date / Event Date Event Price
Apr 12, 2022 Sold
Premium
Sold
Mar 3, 2022 Listed by Coldwell Banker Realty - Arlington $799,000
Listed by Coldwell Banker Realty - Arlington
Aug 23, 2019 Sold
Premium
Sold
Jul 25, 2019 Listed by Coldwell Banker Realty - Arlington $625,000
Listed by Coldwell Banker Realty - Arlington

Property Highlights

Parking Available
With View

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1900
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 1
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 864
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,772
  • Total Building Area: 2,535
  • Gross Building Area: 3,712
  • Building Area: 2,535
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 2,535
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000247
  • 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: 336300

Zoning

  • Zoning: SRA

Geography

  • Parcel: MELR M:0E3 P:000112B
  • Municipality: MELROSE
  • Latitude: 42.4454
  • Longitude: -71.0531

    Address

  • Full Address: 2 Spear St
  • Address - House Number: 2
  • Address - Street Name: Spear
  • Address - Suffix Type: St
  • State: MA
  • City Name: Melrose
  • Carrier Code: C031
  • 4-Digit Zip Code: 5616
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $770,600

    Appraisal Valuation

  • Standard Deviation: 0.1743
  • Valuation Date: Feb 07, 2024
  • Confidence Score: 77
  • Final Value: 822,176
  • High Value: 965,531
  • Low Value: 678,822

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $776,000
  • Assessed Land Value: $416,600
  • Assessed Improvements Value: $359,400

    Sales

  • Current Sale Contract Date: Apr 12, 2022
  • Current Sale Recording Date: Apr 12, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 1911407
  • Previous Sale Recording Date: Mar 30, 2022
  • Previous Sale Contract Date: Mar 24, 2022
  • Previous Sale Amount: $820,000
  • 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 Melrose East Side

Stats & Trends

Median Asking:

$949,950

Sale Price/ft²

$453

Below Asking

0.01%

Average Days on Market

45

Average Home Size

2060 ft²

Average Home Age

92.2 years

Currently For Sale

11 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

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72948621

Frequently Asked Questions

When was property at 2 Spear Street built and last sold?
The property at 2 Spear Street was built in 1900 and last sold on Apr 12, 2022 for $820,000.
How much is this home worth?
The estimated value of the home located at 2 Spear Street is $813,758.
What are some comparable homes to 2 Spear Street?
There are currently no comparable homes to 2 Spear Street.
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