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Marblehead 01945
294 Ocean Avenue
$1,125,000
● House - Off Market

294 Ocean Avenue

Marblehead, MA 01945
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,878 Ft²
$2,153,920
RealtyHop Estimate
80.24%
Since Apr 1, 2006
MA-Boston
Primary Model

About This Property

Marblehead Neck. C. 1984 3 bedroom, 2.5 bath cape with granite kitchen/family room combination 1st floor master suite, attached 2 car garage on 20,367 square foot lot.  Ideal for older couple.
Unit Size
2,878 Ft²
Days on Market
-
Land Size
0.46 acres
Price per sqft
$415
Property Type
House
Property Taxes
$7,661
HOA Dues
-
Year Built
1984

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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 #70287782)

Price History

Date / Event Date Event Price
Jun 30, 2022 Sold
Premium
Sold
Mar 27, 2006 Sold
Premium
Sold
Nov 1, 2005 Listed by Coldwell Banker Residential Brokerage - Marblehead $1,195,000
Listed by Coldwell Banker Residential Brokerage - Marblehead
May 2, 1991 Sold
Premium
Sold

Property Highlights

Air Conditioning
Fireplace
Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 1984
  • Effective Year Built: 1984
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • 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: 7
  • Basement Area: 1,944
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 20,367
  • Total Building Area: 4,746
  • Gross Building Area: 7,126
  • Building Area: 4,746
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 4,746
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MARBLEHEAD NECK
  • Land Acres: 0000000468
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Marblehead School District
  • School Tax School District: MARBLEHEAD SD
  • Census Tract: 203200

Zoning

  • Zoning: LSR

Geography

  • District: 168
  • Parcel: MARB M:0912 B:0008 L:0
  • Block: 8
  • Municipality: MARBLEHEAD
  • Latitude: 42.4916
  • Longitude: -70.8376

    Address

  • Full Address: 294 Ocean Ave
  • Address - House Number: 294
  • Address - Street Name: Ocean
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Marblehead
  • Carrier Code: C012
  • 4-Digit Zip Code: 3731
  • Zip Code: 01945

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,816,200

    Appraisal Valuation

  • Standard Deviation: 0.2245
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 79
  • Final Value: 2,456,825
  • High Value: 2,852,233
  • Low Value: 2,061,417

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $2,027,000
  • Assessed Land Value: $1,606,800
  • Assessed Improvements Value: $420,200

    Sales

  • Current Sale Contract Date: Jun 30, 2022
  • Current Sale Recording Date: Jun 30, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20220630006270
  • Previous Sale Recording Date: Mar 27, 2006
  • Previous Sale Amount: $1,125,000
  • 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 Marblehead

Stats & Trends

Median Asking:

$995,000

Sale Price/ft²

$547

Below Asking

0.01%

Average Days on Market

55

Average Home Size

2921 ft²

Average Home Age

94.6 years

Currently For Sale

39 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: 5 months ago
Data Source: MLS PIN, MLS# 70287782

Frequently Asked Questions

When was property at 294 Ocean Avenue built and last sold?
The property at 294 Ocean Avenue was built in 1984 and last sold on Jun 30, 2022 for $2,450,000.
How much is this home worth?
The estimated value of the home located at 294 Ocean Avenue is $1,232,086.
What are some comparable homes to 294 Ocean Avenue?
There are currently no comparable homes to 294 Ocean Avenue.
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