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Essex
24 River Rd
$480,000
● House - Off Market

24 River Rd

Merrimac, MA 01860
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,918 Ft²
$651,858
RealtyHop Estimate
36.97%
Since Sep 1, 2020
National-US
Primary Model

About This Property

Wake up to the sunrise over the Merrimack River while sipping coffee on your huge deck or from your sun-filled kitchen.  Open floor plan boasts oversized windows that catch the sunlight and views. Soaring ceilings and privacy galore.   There's a first floor bedroom with 3/4 bath adjacent that can also serve as a home office.  Up the open staircase you'll find two very large bedrooms, a full bath, and dressing room/walk-in closet.   Find ample storage in the basement that opens to a one-car garage, plus a detached barn that can house chickens or a pony, or be converted to a garage.   Walk out the back to your private wooded acreage that abuts private conservation land.  Property includes river frontage across River Road with potential for dock.   Easy access to the quaint village of Merrimac and I-495 for commuting.
Unit Size
1,918 Ft²
Days on Market
-
Land Size
2.03 acres
Price per sqft
$248
Property Type
House
Property Taxes
$605
HOA Dues
-
Year Built
1967

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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 #72685956)

Price History

Date / Event Date Event Price
Aug 14, 2020 Sold
Premium
Sold
Jul 7, 2020 Listed by Bentley's $475,900
Listed by Bentley's

Property Highlights

Parking Available
Air Conditioning
Garage

Building Info

Overview

    General

  • Year Built: 1967
  • Effective Year Built: 1967
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 15
  • 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: 7
  • Basement Area: 1,054
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 88,427
  • Total Building Area: 1,918
  • Gross Building Area: 3,352
  • Building Area: 1,918
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,918
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000002030
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Pentucket School District
  • Census Tract: 262100

Zoning

  • Zoning: AR

Geography

  • District: 180
  • Parcel: MERR M:0027 B:0001 L:005-G
  • Block: 1
  • Lot: 5-G
  • Municipality: MERRIMAC
  • Latitude: 42.8198
  • Longitude: -71.003

    Address

  • Full Address: 24 River Rd
  • Address - House Number: 24
  • Address - Street Name: River
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Merrimac
  • Carrier Code: C002
  • 4-Digit Zip Code: 2230
  • Zip Code: 01860

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,004,900

    Appraisal Valuation

  • Standard Deviation: 0.2242
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 69
  • Final Value: 669,114
  • High Value: 818,771
  • Low Value: 519,457

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $744,400
  • Assessed Land Value: $490,300
  • Assessed Improvements Value: $254,100

    Sales

  • Current Sale Contract Date: Jun 02, 2020
  • Current Sale Recording Date: Aug 14, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200814003810
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

2595 ft²

Average Home Age

73.7 years

Currently For Sale

1390 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# 72685956

Frequently Asked Questions

When was property at 24 River Road built and last sold?
The property at 24 River Road was built in 1967 and last sold on Jun 2, 2020 for $480,000.
How much is this home worth?
The estimated value of the home located at 24 River Road is $496,547.
What are some comparable homes to 24 River Road?
There are currently no comparable homes to 24 River Road.
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