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Swampscott 01907
24 Banks Rd
$455,000
● House - Off Market

24 Banks Rd

Swampscott, MA 01907
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,647 Ft²
$625,705
RealtyHop Estimate
42.53%
Since Aug 1, 2019
MA-Boston
Primary Model

About This Property

**MULTIPLE OFFER NOTIFICATION** - Offers Due by Noon on Monday June 10th.  Charming 4-bedroom house located on a tree-lined street in Swampscott's desirable Olmsted Historic District! The home is adjacent to the planned Swampscott Rail Trail- a 2-mile linear trail that will run throughout the town. Less than a mile away, enjoy shopping and dining in Vinnin Square which offers Whole Foods, Starbucks, Panera Bread, HomeGoods, and Marshalls to name a few. Also nearby...THE BEACH...about a half-mile away! This property is ripe for updating and renovations. Features include hardwood floors throughout, a detached garage, new roof & sub-roof in 2006, insulated Harvey windows installed in 2008, and a hot water tank installed in 2016. Easy to show!
Unit Size
1,647 Ft²
Days on Market
-
Land Size
0.10 acres
Price per sqft
$267
Property Type
House
Property Taxes
$526
HOA Dues
-
Year Built
1920

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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 #72513778)

Price History

Date / Event Date Event Price
Jul 18, 2019 Sold
Premium
Sold
Jun 6, 2019 Listed by Bay Colony Realty $439,000
Listed by Bay Colony Realty

Property Highlights

Garage
Fireplace

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1920
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 10
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 849
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,182
  • Total Building Area: 1,647
  • Gross Building Area: 2,666
  • Building Area: 1,647
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 16
  • Heated Square Feet: 1,647
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000096
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Swampscott School District
  • School Tax School District: SWAMPSCOTT SD
  • Census Tract: 202101

Zoning

  • Zoning: A-2

Geography

  • Parcel: SWAM M:0016 B:0009 L:0
  • Block: 9
  • Municipality: SWAMPSCOTT
  • Latitude: 42.4744
  • Longitude: -70.9138

    Address

  • Full Address: 24 Banks Rd
  • Address - House Number: 24
  • Address - Street Name: Banks
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Swampscott
  • Carrier Code: C012
  • 4-Digit Zip Code: 2030
  • Zip Code: 01907

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $675,800

    Appraisal Valuation

  • Standard Deviation: 0.1758
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 77
  • Final Value: 678,242
  • High Value: 797,482
  • Low Value: 559,002

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $575,600
  • Assessed Land Value: $279,000
  • Assessed Improvements Value: $296,600

    Sales

  • Current Sale Contract Date: Jul 11, 2019
  • Current Sale Recording Date: Jul 18, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20190718001420
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 Swampscott

Stats & Trends

Median Asking:

$797,000

Sale Price/ft²

$435

Below Asking

0.03%

Average Days on Market

58

Average Home Size

3217 ft²

Average Home Age

76.9 years

Currently For Sale

39 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# 72513778

Frequently Asked Questions

When was property at 24 Banks Road built and last sold?
The property at 24 Banks Road was built in 1920 and last sold on Jul 11, 2019 for $455,000.
How much is this home worth?
The estimated value of the home located at 24 Banks Road is $456,115.
What are some comparable homes to 24 Banks Road?
There are currently no comparable homes to 24 Banks Road.
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