$880,000
●
House -
Off Market
40 Lee Street
Marblehead, MA 01945
2 Beds
2 Baths,
1
Half Bath
1,240 Ft²
$799,000
RealtyHop Estimate
0.00%
Since Dec 1, 2023
MA-Boston
Primary Model
About This Property
Welcome to 40 Lee Street, a captivating coastal retreat that
seamlessly blends timeless elegance with modern comforts boasting
loads of updates including new custom kitchen, 2.5 new baths, new
HE heat, new 200A electrical and so much more. This stunning 2+
bedroom residence offers a lifestyle of unparalleled charm and
sophistication, perfectly situated in Old Town, this home enjoys a
prime location within walking distance to picturesque beaches,
historic sites including Crocker Park, Fort Sewall, Gas House
Beach, Old Burial Hill (just to name a few), boutique shops, and
renowned restaurants, providing the ideal backdrop for a vibrant
coastal lifestyle. A true testament to timeless craftsmanship, this
home features meticulous attention to detail with custom millwork,
2 oversized fireplaces, high-end finishes, and architectural
sophistication throughout, last but not least...1 car parking. Come
see! OPEN Saturday 10/21 & Sunday 10/22 @ 11:30-1PM.
Unit Size
1,240 Ft²
Days on Market
-
Land Size
0.04 acres
Price per sqft
$644
Property Type
House
Property Taxes
$583
HOA Dues
-
Year Built
1710
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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 #73171332)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 30, 2023 | Sold | ||
| Sold | |||
| Oct 20, 2023 | In contract | - | |
| In contract | |||
| Oct 17, 2023 | Listed by The Proper Nest Real Estate | $799,000 | |
| Listed by The Proper Nest Real Estate | |||
| May 6, 2016 | Sold | ||
| Sold | |||
| Feb 17, 2016 | Listed by William Raveis R.E. & Home Services | $470,000 | |
| Listed by William Raveis R.E. & Home Services | |||
| | |||
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Ideally located, this charming home is situated among Marblehead's finest Old Town streets and enjoys amazing convenience, charm and ease of living. Currently configured as a two bedroom PLUS an office, den or nursery, this home lives well “as is” or w some minor upgrades, transform it into a 4 bed/2 bath. Built in the early 1700's and well cared for, both the historic charm and modern amenity can be enjoyed. First floor features exposed beam construction, original mantel and paneling, lovely bay window in the dining area and kitchen. Second floor features another living room/den and a guest room adjacent to a full bath with W/D. Master suite is located on the top floor in addition to 3rd bedroom. Enjoy lovely brick patio. Owner occupants will find the location unbeatable - walk to BYC, shops of Old Town, Crocker Park & swim dock, Harbor and more. Investors can seize this opportunity for a long term rental with solid returns or capture a slice of the burgeoning AirBnB market
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Property Highlights
Parking Available
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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