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Worcester 01604 Lake Park
249 Lake Ave.
$329,000
● Land - Off Market

249 Lake Ave.

Worcester, MA 01604
bedrooms
Studio
bathrooms
0 Bath
$404,410
RealtyHop Estimate
18.94%
Since Jun 1, 2021
National-US
Primary Model

About This Property

WATERFRONT! Phenomenal views located directly on Lake Quinsigamond offering access to approximately 772 acres perfect for Kayaks, Canoes, Sail Boats, Electric Motor Boats, Power Boats,and Jet-skis*Amazing Opportunity to build your dream home on the Lake*Lot is approved and ready to be built on*Sewer, Water, and Natural Gas*Located mins to UMASS*Easy access to all major routes*Plot Plan Attached
Unit Size
-
Days on Market
-
Land Size
0.28 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
2022

Payment Calculator

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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 #72780416)

Price History

Date / Event Date Event Price
Sep 16, 2021 Sold
Premium
Sold
May 28, 2021 Sold
Premium
Sold
Jan 29, 2021 Listed by Andrew J. Abu Inc., REALTORS® $340,000
Listed by Andrew J. Abu Inc., REALTORS®
Jan 6, 2016 Sold
Premium
Sold
Aug 10, 2015 Listed by Andrew J. Abu Inc., REALTORS® $1,000,000
Listed by Andrew J. Abu Inc., REALTORS®

Property Highlights

Building Info

Overview

    General

  • Year Built: 2022
  • Effective Year Built: 2022
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 8
  • Roof Cover Type: 15
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 5,406
  • Garage Type: 13
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,111
  • Total Building Area: 3,552
  • Gross Building Area: 5,592
  • Building Area: 3,552
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 3,552
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000278
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Worcester School District
  • Census Tract: 732201

Zoning

  • Zoning: RL-7

Geography

  • Account Number: 17-029-00010
  • Parcel: WORC M:17 B:029 L:00010
  • Block: 29
  • Lot: 10
  • Municipality: WORCESTER
  • Latitude: 42.2647
  • Longitude: -71.7541

    Address

  • Full Address: 249 Lake Ave
  • Address - House Number: 249
  • Address - Street Name: Lake
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Worcester
  • Carrier Code: C008
  • 4-Digit Zip Code: 1101
  • Zip Code: 01604

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,453,000
  • Initial Tax Delinquent Year: 2023

    Appraisal Valuation

  • Standard Deviation: 0.167
  • Valuation Date: Feb 07, 2024
  • Confidence Score: 78
  • Final Value: 1,103,388
  • High Value: 1,287,660
  • Low Value: 919,116

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,013,232
  • Assessed Land Value: $346,132
  • Assessed Improvements Value: $667,100

    Sales

  • Current Sale Contract Date: Sep 14, 2021
  • Current Sale Recording Date: Sep 16, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 130260
  • Previous Sale Recording Date: May 28, 2021
  • Previous Sale Contract Date: May 28, 2021
  • Previous Sale Amount: $329,000
  • 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 Lake Park

Stats & Trends

Median Asking:

$544,450

Sale Price/ft²

$276

Below Asking

0.02%

Average Days on Market

55

Average Home Size

1335 ft²

Average Home Age

43.8 years

Currently For Sale

8 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

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72780416

Frequently Asked Questions

When was property at 249 Lake Avenue built and last sold?
The property at 249 Lake Avenue was built in 2022 and last sold on Sep 14, 2021 for $687,000.
How much is this home worth?
The estimated value of the home located at 249 Lake Avenue is $343,400.
What are some comparable homes to 249 Lake Avenue?
There are currently no comparable homes to 249 Lake Avenue.
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