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Peabody 01960 Proctor
20 Summit Terrace
$507,000
● House - Off Market

20 Summit Terrace

Peabody, MA 01960
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,284 Ft²
$583,327
RealtyHop Estimate
6.25%
Since Nov 1, 2022
MA-Boston
Primary Model

About This Property

Lovingly maintained and cared for by the same family for decades. This four bedroom one and 1/2 bath full dormer cape is nestled in a wonderful South Peabody neighborhood. Sun splashed living room with beautiful hardwood floors and bay window, cozy kitchen with dining area, two bedrooms on each floor, first floor has full bath and second level has 1/2 bath. Full basement with updated Weil McLain Gold boiler, washer and dryer and partially finished additional room for future living space or storage. 3 Car driveway and large yard with garden area and storage shed. Minutes to Routes 128, 95 and North Shore Mall and a short stroll to Forest street park and Center School. OPEN HOUSE SUNDAY from 11-1 P.M.
Unit Size
1,284 Ft²
Days on Market
-
Land Size
0.23 acres
Price per sqft
$428
Property Type
House
Property Taxes
$353
HOA Dues
-
Year Built
1950

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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 #73023692)

Price History

Date / Event Date Event Price
Oct 5, 2022 Sold
Premium
Sold
Aug 10, 2022 Listed by RE/MAX 360 $549,000
Listed by RE/MAX 360

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 4
  • Exterior Walls Type: 19
  • 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: 9,923
  • Total Building Area: 1,284
  • Gross Building Area: 1,284
  • Building Area: 1,284
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 16
  • Heated Square Feet: 1,284
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000228
  • 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: R1A

Geography

  • Account Number: 8500
  • Parcel: PEAB M:0073 B:0011
  • Block: 11
  • Municipality: PEABODY
  • Latitude: 42.5317
  • Longitude: -70.9508

    Address

  • Full Address: 20 Summit Ter
  • Address - House Number: 20
  • Address - Street Name: Summit
  • Address - Suffix Type: Ter
  • State: MA
  • City Name: Peabody
  • Carrier Code: C019
  • 4-Digit Zip Code: 4024
  • Zip Code: 01960

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $447,800

    Appraisal Valuation

  • Standard Deviation: 0.1821
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 76
  • Final Value: 590,475
  • High Value: 698,035
  • Low Value: 482,915

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $491,000
  • Assessed Land Value: $244,400
  • Assessed Improvements Value: $246,600

    Sales

  • Current Sale Contract Date: Oct 05, 2022
  • Current Sale Recording Date: Oct 05, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20221005001750
  • Previous Sale Recording Date: Jun 29, 2009
  • 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 Proctor

Stats & Trends

Median Asking:

$604,450

Sale Price/ft²

$374

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1885 ft²

Average Home Age

78.7 years

Currently For Sale

12 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: 4 months ago
Data Source: MLS PIN, MLS# 73023692

Frequently Asked Questions

When was property at 20 Summit Terrace built and last sold?
The property at 20 Summit Terrace was built in 1950 and last sold on Oct 5, 2022 for $507,000.
How much is this home worth?
The estimated value of the home located at 20 Summit Terrace is $547,186.
What are some comparable homes to 20 Summit Terrace?
There are currently no comparable homes to 20 Summit Terrace.
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