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Gloucester 01930
3 Lake Rd
$505,000
● House - Off Market

3 Lake Rd

Gloucester, MA 01930
bedrooms
5 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
3,147 Ft²
$663,488
RealtyHop Estimate
31.38%
Since Jan 1, 2021
National-US
Primary Model

About This Property

LENDER HAS APPROVED THE SHORT SALE.  This is an attempt at a short sale.  Property sold "AS IS" and subject to third party approval and seller's acceptance of terms.  The buyer is responsible for obtaining and paying the final water bill and obtaining Smoke Certificate at their own cost and expense.  The property will not qualify for FHA financing. Buyer to pay $5,000 third party processing fee at closing.  The processing fee cannot be financed.  House is located in a great Magnolia neighborhood.  Some features include; new roof, new siding, new heating system, upgraded electrical, and newer windows.  Upstairs needs TLC.
Unit Size
3,147 Ft²
Days on Market
-
Land Size
0.29 acres
Price per sqft
$160
Property Type
House
Property Taxes
$654
HOA Dues
-
Year Built
1920

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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: 4 months ago (MLSPIN #72674186)

Price History

Date / Event Date Event Price
Dec 28, 2020 Sold
Premium
Sold
Jun 15, 2020 Listed by Churchill Properties $505,000
Listed by Churchill Properties

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1920
  • Building Count: 1
  • Bedroom Count: 5
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • Exterior Walls Type: 19
  • 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: 299
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,441
  • Total Building Area: 3,023
  • Gross Building Area: 4,268
  • Building Area: 3,023
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 3,023
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000286
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Gloucester School District
  • School Tax School District: GLOUCESTER SD
  • Census Tract: 221901

Zoning

  • Zoning: R-20

Geography

  • Parcel: GLOU M:0171 B:0019 L:0000
  • Block: 19
  • Municipality: GLOUCESTER
  • Latitude: 42.5778
  • Longitude: -70.7096

    Address

  • Full Address: 3 Lake Rd
  • Address - House Number: 3
  • Address - Street Name: Lake
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C025
  • 4-Digit Zip Code: 5217
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $930,000

    Appraisal Valuation

  • Standard Deviation: 0.1741
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 77
  • Final Value: 986,300
  • High Value: 1,158,108
  • Low Value: 814,493

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $955,800
  • Assessed Land Value: $243,400
  • Assessed Improvements Value: $712,400

    Sales

  • Current Sale Contract Date: Dec 09, 2020
  • Current Sale Recording Date: Dec 28, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20201228006270
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 Gloucester

Stats & Trends

Median Asking:

$699,900

Sale Price/ft²

$443

Below Asking

0.02%

Average Days on Market

56

Average Home Size

1919 ft²

Average Home Age

80.1 years

Currently For Sale

90 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: 4 months ago
Data Source: MLS PIN, MLS# 72674186

Frequently Asked Questions

When was property at 3 Lake Road built and last sold?
The property at 3 Lake Road was built in 1920 and last sold on Dec 9, 2020 for $505,000.
How much is this home worth?
The estimated value of the home located at 3 Lake Road is $510,977.
What are some comparable homes to 3 Lake Road?
There are currently no comparable homes to 3 Lake Road.
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