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Lynnfield 01940
31 Bishops Lane
$1,100,001
● House - Off Market

31 Bishops Lane

Lynnfield, MA 01940
bedrooms
5 Beds
bathrooms
4 Baths, 1 Half Bath
square feet
3,277 Ft²
$1,257,535
RealtyHop Estimate
25.77%
Since Feb 1, 2021
MA-Boston
Primary Model

About This Property

Exceptional, Sun Filled, Bright and Lovingly Maintained Charles B. Wills built classic home in heavily sought after wide tree lined neighborhood. This voluminous home is nestled among a Private 1.35 Acre Lot. THIS IS IT! 11 Rooms, 5 Bedrooms, 3 Full and 1 Half Bath with a Home Office, Family Room and BONUS lower level Game Room. Pristine, Gleaming Hardwood Floors, Central Air, Central Vac, Updated Kitchen with Cherry Cabinets, Granite Counterops, Stainless Steel Appliances, and Dining Area overlooking the Rear Grounds and Heated, Inground, Free Form Swimming Pool and spacious Patio. This fine home has room for everyone and everything including a generous 2 Car Garage and additional parking. Private Accompanied Showings by Appointment-COVID Procedures in Place for ALL SHOWINGS.
Unit Size
3,277 Ft²
Days on Market
-
Land Size
1.35 acres
Price per sqft
$305
Property Type
House
Property Taxes
$931
HOA Dues
-
Year Built
1969

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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 years ago (MLSPIN #72731947)

Price History

Date / Event Date Event Price
Jan 4, 2021 Sold
Premium
Sold
Sep 24, 2020 Listed by J. Barrett & Company $999,900
Listed by J. Barrett & Company

Property Highlights

Air Conditioning
Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1969
  • Effective Year Built: 1969
  • Building Count: 1
  • Total Rooms: 9
  • Bedroom Count: 5
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 41
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 10
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,760
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 12

    Dimensions

  • Lot Size Square Feet: 58,662
  • Total Building Area: 3,097
  • Gross Building Area: 4,368
  • Building Area: 3,097
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 3,097
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000001347
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Lynnfield School District
  • School Tax School District: LYNNFIELD SD
  • Census Tract: 209100

Zoning

  • Zoning: RC

Geography

  • District: 164
  • Parcel: LYNF M:0042 B:0000 L:0596
  • Lot: 596
  • Municipality: LYNNFIELD
  • Latitude: 42.5262
  • Longitude: -71.0155

    Address

  • Full Address: 31 Bishops Ln
  • Address - House Number: 31
  • Address - Street Name: Bishops
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Lynnfield
  • Carrier Code: C010
  • 4-Digit Zip Code: 1340
  • Zip Code: 01940

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,177,100

    Appraisal Valuation

  • Standard Deviation: 0.1579
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 78
  • Final Value: 1,324,065
  • High Value: 1,550,248
  • Low Value: 1,097,881

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $1,120,000
  • Assessed Land Value: $662,900
  • Assessed Improvements Value: $457,100

    Sales

  • Current Sale Contract Date: Dec 30, 2020
  • Current Sale Recording Date: Jan 04, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 620348
  • Previous Sale Recording Date: Aug 24, 2007
  • Previous Sale Document Type: 48
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 Lynnfield

Stats & Trends

Median Asking:

$999,995

Sale Price/ft²

$400

Below Asking

0.02%

Average Days on Market

56

Average Home Size

3525 ft²

Average Home Age

50.2 years

Currently For Sale

26 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: 5 years ago
Data Source: MLS PIN, MLS# 72731947

Frequently Asked Questions

When was property at 31 Bishops Lane built and last sold?
The property at 31 Bishops Lane was built in 1969 and last sold on Dec 30, 2020 for $1,100,001.
How much is this home worth?
The estimated value of the home located at 31 Bishops Lane is $1,020,007.
What are some comparable homes to 31 Bishops Lane?
There are currently no comparable homes to 31 Bishops Lane.
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