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Reading 01867
24 Spruce Rd
$385,875
● House - Off Market

24 Spruce Rd

Reading, MA 01867
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,325 Ft²
$703,064
RealtyHop Estimate
75.81%
Since Jan 1, 2016
MA-Boston
Primary Model

About This Property

Highly desirable Birch Meadow location for this 3 bedroom ranch. Oak Hardwood floors. Living room with wood burning fireplace. Three season sun room. New roof installed 2008. Potential to expand as property was recently connected to the town sewer. Kitchen with wood cabinets and corian counters. Insulated double pane windows installed 2004. New Peerless heating system (2008) with glass lined booster tank for hot water (2003). Baseboard hot water heat. New masonry paver walkway and front steps (2012). Potential to expand in lower level, add addition or 2nd level as property was recently connected to the town sewer (2015).
Unit Size
1,325 Ft²
Days on Market
-
Land Size
0.22 acres
Price per sqft
$302
Property Type
House
Property Taxes
$479
HOA Dues
-
Year Built
1959

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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 #71909868)

Price History

Date / Event Date Event Price
Dec 23, 2020 Sold
Premium
Sold
Nov 4, 2020 Listed by Joe Bean Real Estate $600,000
Listed by Joe Bean Real Estate
Dec 21, 2015 Sold
Premium
Sold
Sep 24, 2015 Listed by Joe Bean Real Estate $399,900
Listed by Joe Bean Real Estate

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1959
  • Effective Year Built: 1971
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,104
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,705
  • Total Building Area: 1,546
  • Gross Building Area: 2,336
  • Building Area: 1,546
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,546
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000223
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Reading School District
  • School Tax School District: READING SD
  • Census Tract: 334300

Zoning

  • Zoning: S20

Geography

  • Account Number: 1340000000
  • Parcel: READ M:038.0-0000-0019.0
  • Municipality: READING
  • Latitude: 42.5403
  • Longitude: -71.1225

    Address

  • Full Address: 24 Spruce Rd
  • Address - House Number: 24
  • Address - Street Name: Spruce
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Reading
  • Carrier Code: C031
  • 4-Digit Zip Code: 1443
  • Zip Code: 01867

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $835,800

    Appraisal Valuation

  • Standard Deviation: 0.1753
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 77
  • Final Value: 793,449
  • High Value: 932,583
  • Low Value: 654,315

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $713,100
  • Assessed Land Value: $461,900
  • Assessed Improvements Value: $251,200

    Sales

  • Current Sale Contract Date: Nov 06, 2020
  • Current Sale Recording Date: Dec 23, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 246776
  • Previous Sale Recording Date: Dec 21, 2015
  • Previous Sale Amount: $385,875
  • Previous Sale Document Type: O
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 Reading

Stats & Trends

Median Asking:

$857,450

Sale Price/ft²

$456

Below Asking

0.01%

Average Days on Market

50

Average Home Size

2197 ft²

Average Home Age

55.6 years

Currently For Sale

35 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# 71909868

Frequently Asked Questions

When was property at 24 Spruce Road built and last sold?
The property at 24 Spruce Road was built in 1959 and last sold on Nov 6, 2020 for $657,000.
How much is this home worth?
The estimated value of the home located at 24 Spruce Road is $620,702.
What are some comparable homes to 24 Spruce Road?
There are currently no comparable homes to 24 Spruce Road.
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