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Lexington 02421 Follen Heights
298 Marrett Road
$658,000
● House - Off Market

298 Marrett Road

Lexington, MA 02421
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,274 Ft²
$1,056,076
RealtyHop Estimate
76.04%
Since Jun 1, 2015
MA-Boston
Primary Model

About This Property

Picture perfect starter home looking for a new family. Nothing to do but to move right into this beautifully maintained 3 Bedroom, 1 1/2 Bath Colonial located in the Bridge/Clark School District. Newly renovated Kitchen with new S/S appliances, Granite Counters and Flooring. Beautiful Hardwood flooring thru-out 1st and 2nd floors. Updated 1/2 Bath off kitchen, spacious Dining Room with ample space to entertain and cozy Fireplaced Living Room on the 1st floor. 3 spacious Bedrooms with Full Bath on the 2nd floor. Exterior has been recently painted and yard just landscaped last year with a new retaining wall and maintenance free vinyl fenced in back yard. Great location...walking distance to restaurants and shops in Lexington center, and bus to Alewife is just steps away.
Unit Size
1,274 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$471
Property Type
House
Property Taxes
$591
HOA Dues
-
Year Built
1968

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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 #71807232)

Price History

Date / Event Date Event Price
May 27, 2015 Sold
Premium
Sold
Mar 26, 2015 Listed by The Higgins Group REALTORS® $599,900
Listed by The Higgins Group REALTORS®
Aug 10, 2011 Sold
Premium
Sold
May 31, 2011 Listed by The Higgins Group REALTORS® $450,000
Listed by The Higgins Group REALTORS®

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1968
  • Effective Year Built: 1968
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • 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: 624
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,250
  • Total Building Area: 1,274
  • Gross Building Area: 1,898
  • Building Area: 1,274
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,274
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FARMHERST SEC 03
  • Land Acres: 0000000143
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Lexington School District
  • Census Tract: 358300

Zoning

  • Zoning: RS

Geography

  • Parcel: LEXI M:0032 L:00077A
  • Lot: 77A
  • Municipality: LEXINGTON
  • Latitude: 42.4353
  • Longitude: -71.2332

    Address

  • Full Address: 298 Marrett Rd
  • Address - House Number: 298
  • Address - Street Name: Marrett
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Lexington
  • Carrier Code: C013
  • 4-Digit Zip Code: 7009
  • Zip Code: 02421

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,024,400

    Appraisal Valuation

  • Standard Deviation: 0.1625
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 79
  • Final Value: 1,000,215
  • High Value: 1,162,845
  • Low Value: 837,584

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $788,000
  • Assessed Land Value: $472,000
  • Assessed Improvements Value: $316,000

    Sales

  • Current Sale Recording Date: May 27, 2015
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 77852
  • Previous Sale Recording Date: Aug 10, 2011
  • Previous Sale Amount: $435,000
  • Previous Sale Document Type: 27

    Financing

  • First Mortgage Financing Type: UNK
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 Follen Heights

Stats & Trends

Median Asking:

$1,379,000

Sale Price/ft²

$529

Below Asking

0.02%

Average Days on Market

57

Average Home Size

3979 ft²

Average Home Age

40.7 years

Currently For Sale

12 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: 4 months ago
Data Source: MLS PIN, MLS# 71807232

Frequently Asked Questions

When was property at 298 Marrett Road built and last sold?
The property at 298 Marrett Road was built in 1968 and last sold on Jan 1, 1970 for $658,000.
How much is this home worth?
The estimated value of the home located at 298 Marrett Road is $605,204.
What are some comparable homes to 298 Marrett Road?
There are currently no comparable homes to 298 Marrett Road.
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