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Reading 01867
37 Melbourne Ave.
$528,250
● House - Off Market

37 Melbourne Ave.

Reading, MA 01867
bedrooms
4 Beds
bathrooms
3 Baths
square feet
2,265 Ft²
$1,168,761
RealtyHop Estimate
112.54%
Since May 1, 2012
MA-Boston
Primary Model

About This Property

Smack dab between the commuter rail and Joshua Eaton School, this over-sized home is just where you want to be. One of towns most desired West side neighborhoods, this is truly the ideal location.  On a larger than usual grassy lot, this home offers a great  yard for kids and entertaining.  Newly finished HW Fls, 2 fireplaces, 3 full baths, central air, huge 2 car garage, and a perfect 4th bedroom or office with sliders to the outdoors are just some of what you'll love inside.  The wait is over!
Unit Size
2,265 Ft²
Days on Market
-
Land Size
0.34 acres
Price per sqft
$243
Property Type
House
Property Taxes
$583
HOA Dues
-
Year Built
1963

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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 #71288434)

Price History

Date / Event Date Event Price
Apr 6, 2012 Sold
Premium
Sold
Sep 16, 2011 Listed by Colonial Manor Realty $549,900
Listed by Colonial Manor Realty
Mar 1, 2010 Sold
Premium
Sold
Aug 15, 2009 Listed by Colonial Manor Realty $539,900
Listed by Colonial Manor Realty

Property Highlights

Parking Available
Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1963
  • Effective Year Built: 1980
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 41
  • Exterior Walls Type: 18
  • 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: 1,456
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 14,610
  • Total Building Area: 2,238
  • Gross Building Area: 3,350
  • Building Area: 2,238
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 2,238
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000335
  • 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:011.0-0000-0156.0
  • Municipality: READING
  • Latitude: 42.5163
  • Longitude: -71.1094

    Address

  • Full Address: 37 Melbourne Ave
  • Address - House Number: 37
  • Address - Street Name: Melbourne
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Reading
  • Carrier Code: C027
  • 4-Digit Zip Code: 3425
  • Zip Code: 01867

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $954,000

    Appraisal Valuation

  • Standard Deviation: 0.1769
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 77
  • Final Value: 969,387
  • High Value: 1,140,878
  • Low Value: 797,896

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $814,000
  • Assessed Land Value: $479,700
  • Assessed Improvements Value: $334,300

    Sales

  • Current Sale Recording Date: Apr 06, 2012
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 00000006
  • Previous Sale Recording Date: Mar 01, 2010
  • Previous Sale Amount: $512,000
  • 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:

$879,000

Sale Price/ft²

$457

Below Asking

0.01%

Average Days on Market

49

Average Home Size

2243 ft²

Average Home Age

54 years

Currently For Sale

28 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

$4,525 /mo

  • 3 Beds
  • 2 Baths
  • 1,323 ft²
200 Quannapowitt Parkway #C1B, Wakefield, MA, 01880 Listing by Equity Residential

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 71288434

Frequently Asked Questions

When was property at 37 Melbourne Avenue built and last sold?
The property at 37 Melbourne Avenue was built in 1963 and last sold on Jan 1, 1970 for $525,250.
How much is this home worth?
The estimated value of the home located at 37 Melbourne Avenue is $578,507.
What are some comparable homes to 37 Melbourne Avenue?
There are currently no comparable homes to 37 Melbourne Avenue.
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