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Reading 01867
248 Franklin St
$760,000
● House - Off Market

248 Franklin St

Reading, MA 01867
bedrooms
5 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,653 Ft²
$4,757
Est. Monthly

About This Property

OPEN HOUSE SUNDAY (12/10) 11am-1pm.  Desirable location close to the schools and all that downtown Reading has to offer including a convenient commuter location!  Investors and contractors take notice.... Kitchen is ten years old but the rest of the house could use some TLC.... Lovingly maintained by the same family for more than 50 years. Now it's time for new owners to make it their own!  4-5 BR, 2.5 BA, 2nd summer kitchen and 2 garages.  This one won't last!
Unit Size
2,653 Ft²
Days on Market
-
Land Size
0.47 acres
Price per sqft
$301
Property Type
House
Property Taxes
$833
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: 4 months ago (MLSPIN #73177926)

Price History

Date / Event Date Event Price
Jan 26, 2024 Sold
Premium
Sold
Dec 20, 2023 In contract -
In contract
Nov 6, 2023 Listed by Century 21 North East $799,000
Listed by Century 21 North East
Jun 15, 1973 Sold
Premium
Sold

Property Highlights

Garage
Fireplace

Building Info

Overview

    General

  • Year Built: 1960
  • Effective Year Built: 1973
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • 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: 1,461
  • Garage Type: 17
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 20,325
  • Total Building Area: 2,653
  • Gross Building Area: 4,791
  • Building Area: 2,653
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,653
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000467
  • 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: 2080000000
  • Parcel: READ M:051.0-0000-0044.0
  • Municipality: READING
  • Latitude: 42.5522
  • Longitude: -71.111

    Address

  • Full Address: 248 Franklin St
  • Address - House Number: 248
  • Address - Street Name: Franklin
  • Address - Suffix Type: St
  • State: MA
  • City Name: Reading
  • Carrier Code: C018
  • 4-Digit Zip Code: 1031
  • Zip Code: 01867

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,068,500

    Appraisal Valuation

  • Standard Deviation: 0.0773
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 94
  • Final Value: 807,995
  • High Value: 870,527
  • Low Value: 745,463

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $911,700
  • Assessed Land Value: $477,300
  • Assessed Improvements Value: $434,400

    Sales

  • Current Sale Contract Date: Jan 26, 2024
  • Current Sale Recording Date: Jan 26, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 8641
  • Previous Sale Recording Date: Jun 15, 1973
  • Previous Sale Amount: $37,000
  • Previous Sale Document Type: 27
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:

$849,900

Sale Price/ft²

$457

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

Unit for rent at 200 Quannapowitt Parkway, Wakefield, MA, 01880

$3,855 /mo

  • 2 Beds
  • 2 Baths
  • 1,139 ft²
200 Quannapowitt Parkway #B1A-G2B, Wakefield, MA, 01880 Listing by Equity Residential

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 73177926

Frequently Asked Questions

When was property at 248 Franklin Street built and last sold?
The property at 248 Franklin Street was built in 1960 and last sold on Jan 26, 2024 for $760,000.
How much is this home worth?
The estimated value of the home located at 248 Franklin Street is $805,078.
What are some comparable homes to 248 Franklin Street?
There are currently no comparable homes to 248 Franklin Street.
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