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Peabody 01960 South Peabody
3 Rainbow Circle
$465,000
● House - Off Market

3 Rainbow Circle

Peabody, MA 01960
bedrooms
4 Beds
bathrooms
1 Bath
square feet
1,296 Ft²
$600,159
RealtyHop Estimate
30.75%
Since Oct 1, 2020
MA-Boston
Primary Model

About This Property

Charming Cape style home in South Peabody neighborhood boasts wonderful curb appeal with its professionally landscaped yard with irrigation, level back yard and detached single car garage. Offered for the first time in nearly 60 years, this special property is ready for its new owners. Perfect for a starter home or downsizers, this home, with 4 bedrooms and 1 bath, offers the flexibility for a first or second floor primary bedroom and expansion potential in the large basement. In close proximity to restaurants, shops and commuter routes. Come home to 3 Rainbow Circle. Showings are for preapproved buyers during the open house times Saturday and Sunday 10-11:30am and will follow COVID-19 protocol. Scheduled times are encouraged. Please be prepared to wait.
Unit Size
1,296 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$354
Property Type
House
Property Taxes
$290
HOA Dues
-
Year Built
1950

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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 #72708915)

Price History

Date / Event Date Event Price
Sep 21, 2020 Sold
Premium
Sold
Aug 12, 2020 Listed by Keller Williams Realty Evolution $459,000
Listed by Keller Williams Realty Evolution

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 4
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 2
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 4
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 7
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,203
  • Total Building Area: 1,296
  • Gross Building Area: 1,296
  • Building Area: 1,296
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,296
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000142
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Peabody School District
  • School Tax School District: PEABODY SD
  • Census Tract: 210600

Zoning

  • Zoning: R1A

Geography

  • Account Number: 14236
  • Parcel: PEAB M:0109 B:0256
  • Block: 256
  • Municipality: PEABODY
  • Latitude: 42.5109
  • Longitude: -70.9439

    Address

  • Full Address: 3 Rainbow Cir
  • Address - House Number: 3
  • Address - Street Name: Rainbow
  • Address - Suffix Type: Cir
  • State: MA
  • City Name: Peabody
  • Carrier Code: C049
  • 4-Digit Zip Code: 5719
  • Zip Code: 01960

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $439,200

    Appraisal Valuation

  • Standard Deviation: 0.1842
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 75
  • Final Value: 607,059
  • High Value: 718,935
  • Low Value: 495,182

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $481,600
  • Assessed Land Value: $229,200
  • Assessed Improvements Value: $252,400

    Sales

  • Current Sale Contract Date: Sep 16, 2020
  • Current Sale Recording Date: Sep 21, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200921003660
  • Previous Sale Recording Date: Jan 28, 2013
  • 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 South Peabody

Stats & Trends

Median Asking:

$649,900

Sale Price/ft²

$399

Below Asking

0.01%

Average Days on Market

46

Average Home Size

1761 ft²

Average Home Age

85.1 years

Currently For Sale

16 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

Click here to view more rentals in the neighborhood.
Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 72708915

Frequently Asked Questions

When was property at 3 Rainbow Circle built and last sold?
The property at 3 Rainbow Circle was built in 1950 and last sold on Sep 16, 2020 for $465,000.
How much is this home worth?
The estimated value of the home located at 3 Rainbow Circle is $467,030.
What are some comparable homes to 3 Rainbow Circle?
There are currently no comparable homes to 3 Rainbow Circle.
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