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Reading 01867
322 Summer Ave
$700,000
● House - Off Market

322 Summer Ave

Reading, MA 01867
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,158 Ft²
$4,293
Est. Monthly

About This Property

25K Price Reduction & Very Motivated Seller!!! Beautifully updated 3 bedroom home in a great location with a bright dining room that can be used as a 4th bedroom with a nice size fenced in yard and 1 car garage. The updates include new bathroom, new plumbing and hot water heater, electrical panel upgraded to 200Amp ,new gas line at the property, kitchen upgrades and etc.There is also potential for expansion.
Unit Size
1,158 Ft²
Days on Market
-
Land Size
0.25 acres
Price per sqft
$639
Property Type
House
Property Taxes
$659
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: 4 months ago (MLSPIN #73285450)

Price History

Date / Event Date Event Price
Nov 8, 2024 Sold
Premium
Sold
Oct 17, 2024 In contract -
In contract
Oct 16, 2024 Price Decreased $740,000
↓ $25K (3.3%)
Price Decreased
Sep 28, 2024 Price Decreased $765,000
↓ $30K (3.8%)
Price Decreased
Sep 23, 2024 Price Increased $795,000
↑ $55K (7.4%)
Price Increased
Show More

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1960
  • Building Count: 1
  • Total Rooms: 5
  • 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: 898
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,716
  • Total Building Area: 1,158
  • Gross Building Area: 2,865
  • Building Area: 1,158
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,158
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000246
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Reading School District
  • School Tax School District: READING SD
  • Census Tract: 334100

Zoning

  • Zoning: S15

Geography

  • Account Number: 340000000
  • Parcel: READ M:011.0-0000-0142.0
  • Municipality: READING
  • Latitude: 42.5163
  • Longitude: -71.1127

    Address

  • Full Address: 322 Summer Ave
  • Address - House Number: 322
  • Address - Street Name: Summer
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Reading
  • Carrier Code: C026
  • 4-Digit Zip Code: 3450
  • Zip Code: 01867

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $791,200
  • Initial Tax Delinquent Year: 2020

    Appraisal Valuation

  • Standard Deviation: 0.2288
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 68
  • Final Value: 625,787
  • High Value: 768,997
  • Low Value: 482,577

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $675,100
  • Assessed Land Value: $465,600
  • Assessed Improvements Value: $209,500

    Sales

  • Current Sale Contract Date: Oct 18, 2021
  • Current Sale Recording Date: Oct 18, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 35
  • Current Sale Input Document Number: 228489
  • Previous Sale Recording Date: Dec 18, 1991
  • Previous Sale Amount: $166,000
  • 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 Reading

Stats & Trends

Median Asking:

$865,000

Sale Price/ft²

$456

Below Asking

0.01%

Average Days on Market

50

Average Home Size

2135 ft²

Average Home Age

57.1 years

Currently For Sale

35 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

Unit for rent at 200 Quannapowitt Parkway, Wakefield, MA, 01880

$3,855 /mo

  • 2 Beds
  • 2 Baths
  • 1,139 ft²
200 Quannapowitt Parkway #B1A-G2B, Wakefield, MA, 01880 Listing by Equity Residential

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 73285450

Frequently Asked Questions

When was property at 322 Summer Avenue built and last sold?
The property at 322 Summer Avenue was built in 1950 and last sold on Oct 18, 2021 for $567,000.
How much is this home worth?
The estimated value of the home located at 322 Summer Avenue is $735,009.
What are some comparable homes to 322 Summer Avenue?
There are currently no comparable homes to 322 Summer Avenue.
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