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Essex 01938
24 Paradise Road
$550,000
● House - Off Market

24 Paradise Road

Ipswich, MA 01938
bedrooms
1 Bed
bathrooms
1 Bath
square feet
840 Ft²
$2,964
Est. Monthly

About This Property

Rustic bungalow on almost 5 acres with frontage and tidal access on the Egypt River. Passed down in family....first time offered outside family since the 1940's. Loads of natural light, HW floors, rough sawn lumber defines the walls and ceilings. Open concept living with modest kitchen highlighted by VT soapstone sink. Loft upstairs would make an amazing office or studio.  Wooded trail winds down slope to riverfront cabin with dock and well-organized outdoor space. Cabin is rustic and special!! Setting for outdoor space is stunning. Swimming, kayaking, canoeing, sitting around the fire pit are all here.  Words will never do justice to this special home.... ideal for artist, naturalist.
Unit Size
840 Ft²
Days on Market
-
Land Size
4.93 acres
Price per sqft
$595
Property Type
House
Property Taxes
$509
HOA Dues
-
Year Built
1980

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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 #73176929)

Price History

Date / Event Date Event Price
Dec 14, 2023 Sold
Premium
Sold
Nov 8, 2023 In contract -
In contract
Nov 2, 2023 Listed by J. Barrett & Company $499,900
Listed by J. Barrett & Company

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1980
  • Effective Year Built: 1980
  • Building Count: 1
  • Total Rooms: 3
  • Bedroom Count: 1
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 26
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 214,751
  • Total Building Area: 840
  • Gross Building Area: 1,080
  • Building Area: 840
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 14
  • Heated Square Feet: 840
  • Heating Fuel Type: 5

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000004930
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Ipswich School District
  • School Tax School District: IPSWICH SD
  • Census Tract: 223300

Zoning

  • Zoning: RRA

Geography

  • Parcel: IPSW M:20B B:0032 L:0
  • Block: 32
  • Municipality: IPSWICH
  • Latitude: 42.7009
  • Longitude: -70.864

    Address

  • Full Address: 24 Paradise Rd
  • Address - House Number: 24
  • Address - Street Name: Paradise
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Ipswich
  • Carrier Code: C005
  • 4-Digit Zip Code: 1259
  • Zip Code: 01938

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $605,500

    Appraisal Valuation

  • Standard Deviation: 0.0799
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 94
  • Final Value: 512,943
  • High Value: 554,126
  • Low Value: 471,760

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $532,100
  • Assessed Land Value: $451,000
  • Assessed Improvements Value: $81,100

    Sales

  • Current Sale Contract Date: Dec 14, 2023
  • Current Sale Recording Date: Dec 14, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20231214002860
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 Essex

Stats & Trends

Median Asking:

$699,000

Sale Price/ft²

$384

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2546 ft²

Average Home Age

73.2 years

Currently For Sale

1483 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: 4 months ago
Data Source: MLS PIN, MLS# 73176929

Frequently Asked Questions

When was property at 24 Paradise Road built and last sold?
The property at 24 Paradise Road was built in 1980 and last sold on Dec 14, 2023 for $550,000.
How much is this home worth?
The estimated value of the home located at 24 Paradise Road is $503,297.
What are some comparable homes to 24 Paradise Road?
There are currently no comparable homes to 24 Paradise Road.
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