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Lawrence 01843 Colonial Heights
240 Colonial Rd
$499,000
● House - Off Market

240 Colonial Rd

Lawrence, MA 01843
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,391 Ft²
$523,085
RealtyHop Estimate
4.64%
Since Nov 1, 2022
National-US
Primary Model

About This Property

Single family in a great location and beautiful neighborhood near Route 114 close to North Andover line. This home has 3 bedrooms and 2 bath. Opens to dining and living rooms with hardwood floors under carpet. Three season porch have tremendous potential for expansion/finishing. Fireplace in living room, pool table in basement part of sale. Newer furnace baseboard heat and water heater. Central air on first floor. It is conveniently located to major highways 495/93, close to shopping and restaurants.
Unit Size
2,391 Ft²
Days on Market
-
Land Size
0.62 acres
Price per sqft
$209
Property Type
House
Property Taxes
$361
HOA Dues
-
Year Built
1960

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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: 5 months ago (MLSPIN #73033659)

Price History

Date / Event Date Event Price
Oct 21, 2022 Sold
Premium
Sold
Oct 12, 2022 In contract -
In contract
Sep 7, 2022 Listed by JSTAR PROPERTIES LLC $499,900
Listed by JSTAR PROPERTIES LLC

Property Highlights

Garage
Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1960
  • Effective Year Built: 1960
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 4
  • 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: 26,800
  • Total Building Area: 2,391
  • Gross Building Area: 4,059
  • Building Area: 2,391
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,391
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000615
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Lawrence School District
  • School Tax School District: LAWRENCE SD
  • Census Tract: 251700

Geography

  • Account Number: 56 0000 0008 A
  • Parcel: LAWR M:0056 B:0000 L:0008
  • Lot: 8
  • Municipality: LAWRENCE
  • Latitude: 42.6848
  • Longitude: -71.1508

    Address

  • Full Address: 240 Colonial Rd
  • Address - House Number: 240
  • Address - Street Name: Colonial
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Lawrence
  • Carrier Code: C046
  • 4-Digit Zip Code: 3729
  • Zip Code: 01843

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $424,900

    Appraisal Valuation

  • Standard Deviation: 0.1816
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 78
  • Final Value: 562,412
  • High Value: 657,480
  • Low Value: 467,344

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $459,300
  • Assessed Land Value: $149,000
  • Assessed Improvements Value: $310,300

    Sales

  • Current Sale Contract Date: Oct 21, 2022
  • Current Sale Recording Date: Oct 21, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 24635
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 Colonial Heights

Stats & Trends

Median Asking:

$515,000

Sale Price/ft²

$403

Above Asking

0.00%

Average Days on Market

44

Average Home Size

1088 ft²

Average Home Age

45 years

Currently For Sale

1 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

Unit for rent at 23 Florence, Andover, 01810

$3,200 /mo

  • 2 Beds
  • 1 Bath
  • 1,000 ft²
23 Florence, Andover, 01810 Listing by Julie Ratte

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 73033659

Frequently Asked Questions

When was property at 240 Colonial Road built and last sold?
The property at 240 Colonial Road was built in 1960 and last sold on Oct 21, 2022 for $499,000.
How much is this home worth?
The estimated value of the home located at 240 Colonial Road is $505,949.
What are some comparable homes to 240 Colonial Road?
There are currently no comparable homes to 240 Colonial Road.
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