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Worcester 01604 Grafton Hill
386 Lake Avenue
$289,900
● House - Off Market

386 Lake Avenue

Worcester, MA 01604
bedrooms
3 Beds
bathrooms
1 Bath
square feet
963 Ft²
$289,109
RealtyHop Estimate
-0.27%
Since Aug 1, 2023
National-US
Primary Model

About This Property

Amazing  opportunity for an investor or potential rehab loan.  Buyer to perform due diligence. Town Services. Waterline updated about 2 years ago. Water heater replaced in 2021, Furnace replaced in 2013. Windows replaced 2008. Unsure of roof age, but less than 20 years. Bring your tools and ideas.  Large living and dining room. 2nd floor featured original hardwood floors through out. Great location, close to major routes.  This diamond in the rough is ready for your updates.
Unit Size
963 Ft²
Days on Market
-
Land Size
0.26 acres
Price per sqft
$301
Property Type
House
Property Taxes
$327
HOA Dues
-
Year Built
1930

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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 #73116640)

Price History

Date / Event Date Event Price
Jul 17, 2023 Sold
Premium
Sold
Jun 13, 2023 In contract -
In contract
May 26, 2023 Listed by eXp Realty $289,900
Listed by eXp Realty

Property Highlights

Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 1930
  • Effective Year Built: 1965
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 15
  • Building Style: 15
  • 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: 6
  • Basement Area: 630
  • Garage Type: 17
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,500
  • Total Building Area: 963
  • Gross Building Area: 1,908
  • Building Area: 963
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 963
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: WEST LAKEWOOD SEC 02
  • Land Acres: 0000000264
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Worcester School District
  • Census Tract: 732301

Zoning

  • Zoning: RL-7

Geography

  • Account Number: 41-003-38+39
  • Parcel: WORC M:41 B:003 L:38+39
  • Block: 3
  • Lot: 38+39
  • Municipality: WORCESTER
  • Latitude: 42.251
  • Longitude: -71.7511

    Address

  • Full Address: 386 Lake Ave
  • Address - House Number: 386
  • Address - Street Name: Lake
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Worcester
  • Carrier Code: C001
  • 4-Digit Zip Code: 1359
  • Zip Code: 01604

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $392,300

    Appraisal Valuation

  • Standard Deviation: 0.2061
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 72
  • Final Value: 339,154
  • High Value: 409,066
  • Low Value: 269,243

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $273,600
  • Assessed Land Value: $103,300
  • Assessed Improvements Value: $170,300

    Sales

  • Current Sale Contract Date: Jul 17, 2023
  • Current Sale Recording Date: Jul 17, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 57102
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 Grafton Hill

Stats & Trends

Median Asking:

$469,000

Sale Price/ft²

$278

Below Asking

0.01%

Average Days on Market

53

Average Home Size

1979 ft²

Average Home Age

67.2 years

Currently For Sale

25 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# 73116640

Frequently Asked Questions

When was property at 386 Lake Avenue built and last sold?
The property at 386 Lake Avenue was built in 1930 and last sold on Jul 17, 2023 for $289,900.
How much is this home worth?
The estimated value of the home located at 386 Lake Avenue is $292,286.
What are some comparable homes to 386 Lake Avenue?
There are currently no comparable homes to 386 Lake Avenue.
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