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Worcester 01523
28 Colony Lane
$320,000
● House - Off Market

28 Colony Lane

Lancaster, MA 01523
bedrooms
5 Beds
bathrooms
4 Baths, 1 Half Bath
square feet
5,240 Ft²
$436,966
RealtyHop Estimate
45.70%
Since Feb 1, 2020
National-US
Primary Model

About This Property

Come view this new to market custom built home. Fantastic open floor plan. Tons of natural light. Cathedral ceilings. Rough plumbing and electrical done. Insulation done. Needs heating system, some plaster and all the finish work. Full walk out basement. Oversized two car garage. Good title 5. Tons  and tons of potential. Not a short sale. Not bank owned.   Great opportunity for the right person.
Unit Size
5,240 Ft²
Days on Market
-
Land Size
1.63 acres
Price per sqft
$57
Property Type
House
Property Taxes
$857
HOA Dues
-
Year Built
2002

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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 #72603056)

Price History

Date / Event Date Event Price
Jan 23, 2020 Sold
Premium
Sold
Dec 30, 2019 Listed by Nala Real Estate $299,900
Listed by Nala Real Estate
Feb 23, 2018 Sold
Premium
Sold

Property Highlights

Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 2002
  • Effective Year Built: 2002
  • Building Count: 1
  • Total Rooms: 10
  • Bedroom Count: 4
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 3
  • 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: 2
  • Basement Area: 2,813
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 71,003
  • Total Building Area: 5,240
  • Gross Building Area: 5,240
  • Building Area: 5,240
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 5,240
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000001630
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Nashoba School District
  • Census Tract: 713100

Geography

  • Parcel: LANC M:024.0 B:0000 L:0031.0
  • Lot: 31.0
  • Municipality: LANCASTER
  • Latitude: 42.4811
  • Longitude: -71.7001

    Address

  • Full Address: 28 Colony Ln
  • Address - House Number: 28
  • Address - Street Name: Colony
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Lancaster
  • Carrier Code: R004
  • 4-Digit Zip Code: 2436
  • Zip Code: 01523

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,602,900

    Appraisal Valuation

  • Standard Deviation: 0.1747
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 77
  • Final Value: 868,918
  • High Value: 1,020,797
  • Low Value: 717,039

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $929,300
  • Assessed Land Value: $106,900
  • Assessed Improvements Value: $822,400

    Sales

  • Current Sale Contract Date: Jan 02, 2020
  • Current Sale Recording Date: Jan 23, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 7413
  • Previous Sale Recording Date: Feb 23, 2018
  • Previous Sale Amount: $150,000
  • 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 Worcester

Stats & Trends

Median Asking:

$499,900

Sale Price/ft²

$281

Below Asking

0.02%

Average Days on Market

57

Average Home Size

2423 ft²

Average Home Age

63.4 years

Currently For Sale

1927 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# 72603056

Frequently Asked Questions

When was property at 28 Colony Lane built and last sold?
The property at 28 Colony Lane was built in 2002 and last sold on Jan 2, 2020 for $320,000.
How much is this home worth?
The estimated value of the home located at 28 Colony Lane is $305,045.
What are some comparable homes to 28 Colony Lane?
There are currently no comparable homes to 28 Colony Lane.
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