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Essex
3 Patti Ln
$469,000
● House - Off Market

3 Patti Ln

Wenham, MA 01984
bedrooms
5 Beds
bathrooms
2 Baths
square feet
2,059 Ft²
$977,682
RealtyHop Estimate
103.68%
Since Jul 1, 2012
MA-Boston
Primary Model

About This Property

Comfortable Cape Cod style home with 3/4 bedrooms and 2 full bathrooms in a wonderful family neighborhood with easy access to highways and commuter rail. House has had numerous updates including a new roof, and renovated kitchen and master bath. There are 2 fireplaces, a finished family room (with fireplace) in the basement and a large two car attached garage. Other updates include a beautiful mahogany deck looking out over a large manicured lawn that is fully fenced ready for children and pets.
Unit Size
2,059 Ft²
Days on Market
-
Land Size
0.49 acres
Price per sqft
$233
Property Type
House
Property Taxes
$612
HOA Dues
-
Year Built
1959

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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 #71365638)

Price History

Date / Event Date Event Price
Jun 21, 2012 Sold
Premium
Sold
Apr 11, 2012 Listed by First General Realty Corp $480,000
Listed by First General Realty Corp
Jun 30, 2004 Sold
Premium
Sold
Apr 29, 2004 Listed by First General Realty Corp $495,000
Listed by First General Realty Corp

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1959
  • Effective Year Built: 1959
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 5
  • 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: 840
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 21,344
  • Total Building Area: 2,022
  • Gross Building Area: 4,422
  • Building Area: 2,022
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,022
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000490
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Hamilton-Wenham School District
  • School Tax School District: HAMILTN-WENHAM
  • Census Tract: 216100

Geography

  • Account Number: 1044
  • Parcel: WENH M:27 L:25
  • Lot: 25
  • Municipality: WENHAM
  • Latitude: 42.5979
  • Longitude: -70.8888

    Address

  • Full Address: 3 Patti Ln
  • Address - House Number: 3
  • Address - Street Name: Patti
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Wenham
  • Carrier Code: C002
  • 4-Digit Zip Code: 1511
  • Zip Code: 01984

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,258,700

    Appraisal Valuation

  • Standard Deviation: 0.1885
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 62
  • Final Value: 975,003
  • High Value: 1,158,847
  • Low Value: 791,158

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $725,500
  • Assessed Land Value: $498,800
  • Assessed Improvements Value: $226,700

    Sales

  • Current Sale Recording Date: Jun 21, 2012
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Previous Sale Recording Date: Jun 30, 2004
  • Previous Sale Amount: $490,000
  • 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 Essex

Stats & Trends

Median Asking:

$699,900

Sale Price/ft²

$384

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2548 ft²

Average Home Age

72.1 years

Currently For Sale

1451 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# 71365638

Frequently Asked Questions

When was property at 3 Patti Lane built and last sold?
The property at 3 Patti Lane was built in 1959 and last sold on Jan 1, 1970 for $469,000.
How much is this home worth?
The estimated value of the home located at 3 Patti Lane is $484,594.
What are some comparable homes to 3 Patti Lane?
There are currently no comparable homes to 3 Patti Lane.
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