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Melrose 02176 Mount Hood
24 Patrick's Place
$1,725,000
● House - Off Market

24 Patrick's Place

Melrose, MA 02176
bedrooms
4 Beds
bathrooms
4 Baths, 1 Half Bath
square feet
3,600 Ft²
$1,873,949
RealtyHop Estimate
7.39%
Since Feb 1, 2023
MA-Boston
Primary Model

About This Property

New Construction  - Ready for Delivery!  Sunday 11/13 noon-2pm. Welcome to Patrick's Place -  Four of nine homes SOLD. End of cul-de-sac lot with seasonal sweeping views of the pond. Plan includes 3,600 sf on the main two levels plus mudroom and an option to finish 800sf in the fully walk out lower level with 10' ceilings.   Custom high end finish work throughout. All Hardwood floors. Two gas fireplaces. High end Kitchen.  Elegant main bath suite with double closets.  Additional en-suite bedroom. Quality custom building by Szecon Development. Features include Hardiplank siding and Anderson windows, 9' first floor ceiling heights, Ledgestone gas fireplace in the Family Room.
Unit Size
3,600 Ft²
Days on Market
-
Land Size
0.42 acres
Price per sqft
$485
Property Type
House
Property Taxes
-
HOA Dues
$200
Year Built
2022

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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 years ago (MLSPIN #73046638)

Price History

Date / Event Date Event Price
Jan 4, 2023 Sold
Premium
Sold
Nov 15, 2022 In contract -
In contract
Nov 11, 2022 Price Decreased $1,745,000
↓ $50K (2.8%)
Price Decreased
Nov 3, 2022 Price Decreased $1,795,000
↓ $55K (3%)
Price Decreased
Oct 26, 2022 Price Decreased $1,850,000
↓ $45K (2.4%)
Price Decreased
Show More

Property Highlights

Air Conditioning
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 2022
  • Effective Year Built: 2022
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,154
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 18,387
  • Lot Size Frontage Feet: 0
  • Total Building Area: 3,460
  • Gross Building Area: 7,128
  • Building Area: 3,460
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 3,460
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000422
  • 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:0G3 P:0000053
  • Municipality: MELROSE
  • Latitude: 42.4447
  • Longitude: -71.046

    Address

  • Full Address: 24 Patricks Pl
  • Address - House Number: 24
  • Address - Street Name: Patricks
  • Address - Suffix Type: Pl
  • State: MA
  • City Name: Melrose
  • Carrier Code: C025
  • 4-Digit Zip Code: 5534
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,677,600

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $1,689,400
  • Assessed Land Value: $556,700
  • Assessed Improvements Value: $1,132,700

    Sales

  • Current Sale Contract Date: Jan 04, 2023
  • Current Sale Recording Date: Jan 04, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 620

    Financing

  • First Mortgage Financing Type: ADJ
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 Mount Hood

Stats & Trends

Median Asking:

$997,500

Sale Price/ft²

$442

Below Asking

0.01%

Average Days on Market

53

Average Home Size

2104 ft²

Average Home Age

107 years

Currently For Sale

2 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 years ago
Data Source: MLS PIN, MLS# 73046638

Frequently Asked Questions

When was property at 24 Patrick's Place built and last sold?
The property at 24 Patrick's Place was built in 2022 and last sold on Jan 4, 2023 for $1,725,000.
How much is this home worth?
The estimated value of the home located at 24 Patrick's Place is $0.
What are some comparable homes to 24 Patrick's Place?
There are currently no comparable homes to 24 Patrick's Place.
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