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Worcester 01604 Lake Park
40 Palisades St
$340,000
● House - Off Market

40 Palisades St

Worcester, MA 01604
bedrooms
2 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,020 Ft²
$298,319
RealtyHop Estimate
-0.56%
Since Sep 1, 2023
National-US
Primary Model

About This Property

Tucked away in a terrific location on a dead-end street with close proximity to a multitude of area amenities, this lovely two bedroom home is a perfect homeownership opportunity. Featuring open floor plan living space, main level hardwood flooring, updated kitchen with stainless steel appliances, and quartz countertops, plus updated bathrooms. Outdoor living is a breeze with a large back deck and a fenced level yard - perfect for entertaining. Basement has potential for additional finished space. Ample off street parking. Easy access to Lake Park, UMass Medical area, Lake View Elementary School, playground and so much more. Showings by appointment beginning Friday, June 16th at 5PM. Offers, if any due by 5PM on Monday, June 19th.
Unit Size
1,020 Ft²
Days on Market
-
Land Size
0.09 acres
Price per sqft
$294
Property Type
House
Property Taxes
$301
HOA Dues
-
Year Built
1985

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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 #73123952)

Price History

Date / Event Date Event Price
Aug 4, 2023 Sold
Premium
Sold
Jul 17, 2023 In contract -
In contract
Jul 16, 2023 Relisted $170,000
Relisted
Jun 20, 2023 In contract -
In contract
Jun 13, 2023 Listed by Keller Williams Realty Greater Worcester $299,999
Listed by Keller Williams Realty Greater Worcester
Show More

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1985
  • Effective Year Built: 1985
  • Building Count: 1
  • Total Rooms: 4
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 3
  • Building Style: 31
  • 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: 2
  • Basement Area: 500
  • Garage Type: 17
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,902
  • Total Building Area: 1,020
  • Gross Building Area: 1,640
  • Building Area: 1,020
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,020
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000090
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Worcester School District
  • Census Tract: 732201

Zoning

  • Zoning: RL-7

Geography

  • Account Number: 41-026-0004B
  • Parcel: WORC M:41 B:026 L:0004B
  • Block: 26
  • Lot: 4B
  • Municipality: WORCESTER
  • Latitude: 42.263
  • Longitude: -71.7604

    Address

  • Full Address: 40 Palisades St
  • Address - House Number: 40
  • Address - Street Name: Palisades
  • Address - Suffix Type: St
  • State: MA
  • City Name: Worcester
  • Carrier Code: C030
  • 4-Digit Zip Code: 1248
  • Zip Code: 01604

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $361,500

    Appraisal Valuation

  • Standard Deviation: 0.167
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 78
  • Final Value: 344,153
  • High Value: 401,628
  • Low Value: 286,677

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $252,100
  • Assessed Land Value: $71,700
  • Assessed Improvements Value: $180,400

    Sales

  • Current Sale Contract Date: Aug 04, 2023
  • Current Sale Recording Date: Aug 04, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 63948
  • Previous Sale Recording Date: Jun 27, 2016
  • Previous Sale Amount: $170,000
  • 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 Lake Park

Stats & Trends

Median Asking:

$544,450

Sale Price/ft²

$270

Below Asking

0.02%

Average Days on Market

55

Average Home Size

1349 ft²

Average Home Age

65.2 years

Currently For Sale

12 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 27 Mount Vernon St, MA, 01605

$1,882 /mo

  • 1 Bed
  • 1 Bath
27 Mount Vernon St, MA, 01605 Listing by Rick Rivera

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 73123952

Frequently Asked Questions

When was property at 40 Palisades Street built and last sold?
The property at 40 Palisades Street was built in 1985 and last sold on Aug 4, 2023 for $340,000.
How much is this home worth?
The estimated value of the home located at 40 Palisades Street is $298,782.
What are some comparable homes to 40 Palisades Street?
There are currently no comparable homes to 40 Palisades Street.
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