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Methuen Town 01844
38 Ridge
$400,000
● House - Off Market

38 Ridge

Methuen, MA 01844
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,490 Ft²
$585,066
RealtyHop Estimate
46.27%
Since Jan 1, 2020
National-US
Primary Model

About This Property

Greatly maintained Cape offering 9 rooms, 3 bedrooms and 2 full baths. First floor includes large living room with hardwood floors, fully applianced eat-in kitchen with oak cabinets, a full teiled bathroom, spacious dining room and 2 good sized bedrooms with hardwood floors and ample closets. Family room off the kitchen offers plenty of natural lighting and separate entry way. Second floor boasts of a Master suit with 2 lighted closets with a beautifully marble tiled full bathroom. Lower level is partially finished with laundry room, plenty of room for storage and additional space for a family room and play room. Vinyl siding, a one car under garage with ample parking. Great commuter location with access to 93, 495 and the NH border.
Unit Size
2,490 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$161
Property Type
House
Property Taxes
$342
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 #72575672)

Price History

Date / Event Date Event Price
Dec 18, 2019 Sold
Premium
Sold
Oct 4, 2019 Listed by Keller Williams Realty $400,000
Listed by Keller Williams Realty
Oct 1, 2019 Sold
Premium
Sold
Mar 20, 2019 Listed by Keller Williams Realty $374,900
Listed by Keller Williams Realty
Mar 31, 2004 Sold
Premium
Sold
Show More

Property Highlights

Parking Available
Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 4
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,240
  • Garage Type: 17
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,800
  • Total Building Area: 2,490
  • Gross Building Area: 3,784
  • Building Area: 2,490
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 2,490
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: BONITZ & OTTO PLAN 547
  • Land Acres: 0000000110
  • 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: 11535
  • Parcel: METH M:01014 B:00104 L:00103A
  • Block: 104
  • Lot: 103A
  • Municipality: METHUEN
  • Latitude: 42.7244
  • Longitude: -71.1458

    Address

  • Full Address: 38 Ridge Rd
  • Address - House Number: 38
  • Address - Street Name: Ridge
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Methuen
  • Carrier Code: C019
  • 4-Digit Zip Code: 5930
  • Zip Code: 01844

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $481,600

    Appraisal Valuation

  • Standard Deviation: 0.1817
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 76
  • Final Value: 565,767
  • High Value: 668,617
  • Low Value: 462,917

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $411,600
  • Assessed Land Value: $155,500
  • Assessed Improvements Value: $256,100

    Sales

  • Current Sale Contract Date: Nov 04, 2019
  • Current Sale Recording Date: Dec 18, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 32108
  • Previous Sale Recording Date: Oct 01, 2019
  • Previous Sale Contract Date: Oct 01, 2019
  • Previous Sale Amount: $370,900
  • Previous Sale Document Type: O
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

$325

Below Asking

0.01%

Average Days on Market

52

Average Home Size

2195 ft²

Average Home Age

55.4 years

Currently For Sale

69 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

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72575672

Frequently Asked Questions

When was property at 38 Ridge Road built and last sold?
The property at 38 Ridge Road was built in 1950 and last sold on Nov 4, 2019 for $400,000.
How much is this home worth?
The estimated value of the home located at 38 Ridge Road is $425,982.
What are some comparable homes to 38 Ridge Road?
There are currently no comparable homes to 38 Ridge Road.
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