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Framingham 01702
40 Summit St
$315,000
● House - Off Market

40 Summit St

Framingham, MA 01702
bedrooms
3 Beds
bathrooms
1 Bath
square feet
2,078 Ft²
$427,620
RealtyHop Estimate
44.96%
Since Apr 1, 2019
MA-Boston
Primary Model

About This Property

Under 300K!!  Rare find in Framingham.  House has good bones but needs cosmetics/TLC.  Hardwood floors throughout, eat in kitchen.  Newer roof with solar panels (not leased), 1 car detached garage and level fenced backyard.  Finished basement.  Force hot air heat and hot water.  House has central air and 200 amp electric system.
Unit Size
2,078 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$142
Property Type
House
Property Taxes
$331
HOA Dues
-
Year Built
1925

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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 #72446679)

Price History

Date / Event Date Event Price
Feb 28, 2019 Sold
Premium
Sold
Jan 27, 2019 Listed by Keller Williams Realty $295,000
Listed by Keller Williams Realty
Jul 30, 1997 Sold
Premium
Sold

Property Highlights

Garage
Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1925
  • Effective Year Built: 1966
  • 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: 6
  • Building Style: 5
  • 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: 624
  • Garage Type: 17
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,009
  • Total Building Area: 1,264
  • Gross Building Area: 2,078
  • Building Area: 1,264
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,264
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000115
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Framingham School District
  • Census Tract: 383101

Zoning

  • Zoning: G

Geography

  • Account Number: F_679882_2924317
  • Parcel: FRAM M:135 B:94 L:8381 U:000
  • Block: 94
  • Lot: 8381
  • Municipality: FRAMINGHAM
  • Latitude: 42.2731
  • Longitude: -71.4117

    Address

  • Full Address: 40 Summit St
  • Address - House Number: 40
  • Address - Street Name: Summit
  • Address - Suffix Type: St
  • State: MA
  • City Name: Framingham
  • Carrier Code: C063
  • 4-Digit Zip Code: 7363
  • Zip Code: 01702

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $480,300

    Appraisal Valuation

  • Standard Deviation: 0.1928
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 74
  • Final Value: 480,078
  • High Value: 572,674
  • Low Value: 387,482

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $385,500
  • Assessed Land Value: $177,500
  • Assessed Improvements Value: $208,000

    Sales

  • Current Sale Contract Date: Feb 20, 2019
  • Current Sale Recording Date: Feb 28, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 54
  • Current Sale Input Document Number: 25107
  • Previous Sale Recording Date: Jul 30, 1997
  • Previous Sale Amount: $108,000
  • 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 Framingham

Stats & Trends

Median Asking:

$675,000

Sale Price/ft²

$364

Below Asking

0.01%

Average Days on Market

53

Average Home Size

2074 ft²

Average Home Age

63 years

Currently For Sale

137 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 143-145 Mill St, MA, 01760

$1,964 /mo

  • 1 Bed
  • 1 Bath
143-145 Mill St, MA, 01760 Listing by Rick Rivera

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72446679

Frequently Asked Questions

When was property at 40 Summit Street built and last sold?
The property at 40 Summit Street was built in 1925 and last sold on Feb 20, 2019 for $315,000.
How much is this home worth?
The estimated value of the home located at 40 Summit Street is $324,256.
What are some comparable homes to 40 Summit Street?
There are currently no comparable homes to 40 Summit Street.
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