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Methuen Town 01844
3 Ridge Rd.
$400,000
● House - Off Market

3 Ridge Rd.

Methuen, MA 01844
bedrooms
2 Beds
bathrooms
1 Bath
square feet
1,000 Ft²
$382,958
RealtyHop Estimate
0.78%
Since Jun 1, 2022
National-US
Primary Model

About This Property

Take advantage of the equity potential in this move-in conditions ranch in East Methuen.  Located in a sought-after neighborhood, with easy highway access, this home offers great value in today's market.  Spacious and bright, with generous-sized rooms, including a large living room and eat-in kitchen, this home sits on a nice, level lot, with a large deck, and attached garage.  With a new roof, new front porch and steps, new garage door, and fresh paint inside and out, this home is a great opportunity for first-time buyers, or empty-nesters!
Unit Size
1,000 Ft²
Days on Market
-
Land Size
0.18 acres
Price per sqft
$380
Property Type
House
Property Taxes
$327
HOA Dues
-
Year Built
1965

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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 #72951744)

Price History

Date / Event Date Event Price
May 24, 2022 Sold
Premium
Sold
Mar 9, 2022 Listed by Leading Edge Real Estate $380,000
Listed by Leading Edge Real Estate
Jul 13, 2010 Sold
Premium
Sold
Nov 23, 2009 Listed by Leading Edge Real Estate $199,900
Listed by Leading Edge Real Estate

Property Highlights

Garage
Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1965
  • Effective Year Built: 1965
  • Building Count: 1
  • Total Rooms: 4
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,000
  • Garage Type: 1
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,906
  • Total Building Area: 1,000
  • Gross Building Area: 2,666
  • Building Area: 1,000
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,000
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: BONITZ & OTTO METHUEN
  • Land Acres: 0000000181
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Methuen School District
  • School Tax School District: METHUEN SD
  • Census Tract: 252501

Zoning

  • Zoning: RD

Geography

  • Account Number: 6175
  • Parcel: METH M:01014 B:00104 L:00106
  • Block: 104
  • Lot: 106
  • Municipality: METHUEN
  • Latitude: 42.726
  • Longitude: -71.1458

    Address

  • Full Address: 3 Ridge Rd
  • Address - House Number: 3
  • Address - Street Name: Ridge
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Methuen
  • Carrier Code: C019
  • 4-Digit Zip Code: 5929
  • Zip Code: 01844

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $410,000

    Appraisal Valuation

  • Standard Deviation: 0.1874
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 75
  • Final Value: 433,430
  • High Value: 514,682
  • Low Value: 352,177

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $350,400
  • Assessed Land Value: $163,000
  • Assessed Improvements Value: $187,400

    Sales

  • Current Sale Contract Date: May 24, 2022
  • Current Sale Recording Date: May 24, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 12226
  • Previous Sale Recording Date: Jul 13, 2010
  • Previous Sale Amount: $204,400
  • 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 Methuen Town

Stats & Trends

Median Asking:

$599,900

Sale Price/ft²

$326

Below Asking

0.01%

Average Days on Market

53

Average Home Size

2221 ft²

Average Home Age

56.1 years

Currently For Sale

74 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: 4 months ago
Data Source: MLS PIN, MLS# 72951744

Frequently Asked Questions

When was property at 3 Ridge Road built and last sold?
The property at 3 Ridge Road was built in 1965 and last sold on May 24, 2022 for $400,000.
How much is this home worth?
The estimated value of the home located at 3 Ridge Road is $377,034.
What are some comparable homes to 3 Ridge Road?
There are currently no comparable homes to 3 Ridge Road.
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