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Essex
296 Lake Drive
$450,000
● House - Off Market

296 Lake Drive

Hamilton, MA 01982
bedrooms
2 Beds
bathrooms
2 Baths
square feet
1,266 Ft²
$606,830
RealtyHop Estimate
34.85%
Since Aug 1, 2020
MA-Boston
Primary Model

About This Property

Impeccable cape style home on .38 sunny acres. Updated and beautifully maintained. The kitchen sits between the living room and sun porch. There's a gas stove, tiled floor and views to the back yard from the porch. Also on the first floor is a bedroom and private office. There are two full bathrooms, one on each floor. Excellent well planned design on the second floor with the master bedroom, bathroom and a second open office space. The yard has plenty of space to garden if you would like, or just enjoy from the patio. Welcome air conditioning and hardwood floors throughout most of the house. Laundry hook ups on both the first floor and in the basement. Updates include most windows, heating system, hot water and roof. This home is easy to enjoy. Fabulous setting in the Lake Drive neighborhood near Pleasant Pond.
Unit Size
1,266 Ft²
Days on Market
-
Land Size
0.38 acres
Price per sqft
$355
Property Type
House
Property Taxes
$458
HOA Dues
-
Year Built
1949

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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: 6 months ago (MLSPIN #72657355)

Price History

Date / Event Date Event Price
Jul 29, 2020 Sold
Premium
Sold
May 15, 2020 Listed by Coldwell Banker Residential Brokerage - Beverly $450,000
Listed by Coldwell Banker Residential Brokerage - Beverly

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1949
  • Effective Year Built: 1949
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • 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: 780
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 16,479
  • Total Building Area: 1,266
  • Gross Building Area: 2,436
  • Building Area: 1,266
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 18
  • Heated Square Feet: 1,266
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: HAMILTON
  • Land Acres: 0000000378
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Hamilton-Wenham School District
  • Census Tract: 215102

Zoning

  • Zoning: R1A

Geography

  • Account Number: 2479
  • Parcel: HAMI M:54 B:41
  • Block: 41
  • Lot: 41
  • Municipality: HAMILTON
  • Latitude: 42.6157
  • Longitude: -70.8928

    Address

  • Full Address: 296 Lake Dr
  • Address - House Number: 296
  • Address - Street Name: Lake
  • Address - Suffix Type: Dr
  • State: MA
  • City Name: South Hamilton
  • Carrier Code: C005
  • 4-Digit Zip Code: 1647
  • Zip Code: 01982

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $739,600
  • Initial Tax Delinquent Year: 2022

    Appraisal Valuation

  • Standard Deviation: 0.1822
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 78
  • Final Value: 620,830
  • High Value: 726,458
  • Low Value: 515,203

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $489,500
  • Assessed Land Value: $194,600
  • Assessed Improvements Value: $294,900

    Sales

  • Current Sale Contract Date: Jul 20, 2020
  • Current Sale Recording Date: Jul 29, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200729002700
  • Previous Sale Recording Date: Nov 26, 2014
  • 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 Essex

Stats & Trends

Median Asking:

$699,900

Sale Price/ft²

$384

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2466 ft²

Average Home Age

72.4 years

Currently For Sale

1380 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

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Last Updated: 6 months ago
Data Source: MLS PIN, MLS# 72657355

Frequently Asked Questions

When was property at 296 Lake Drive built and last sold?
The property at 296 Lake Drive was built in 1949 and last sold on Jul 20, 2020 for $450,000.
How much is this home worth?
The estimated value of the home located at 296 Lake Drive is $458,025.
What are some comparable homes to 296 Lake Drive?
There are currently no comparable homes to 296 Lake Drive.
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