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Wellesley 02482
42 Summit Road
$1,403,000
● House - Off Market

42 Summit Road

Wellesley, MA 02482
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,700 Ft²
$7,137
Est. Monthly

About This Property

Opportunity knocks! Attention builders, rehabbers or buyers looking for a project! Imagine the possibilities! Desirable Location in the heart of College Heights a short walk to Wellesley Center and the Commuter Rail. Built in 1933 with a 15,000 sqft flat lot. Traditional floor plan with 3 bedrooms and one and ½ baths and 2 car attached garage. Subject to license to sell, being sold "as is". Offers if any are requested by 12 noon Monday 10/16 in a complete pdf. Please allow 24 hours for reply.
Unit Size
1,700 Ft²
Days on Market
-
Land Size
0.36 acres
Price per sqft
$735
Property Type
House
Property Taxes
$999
HOA Dues
-
Year Built
1933

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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 #73170252)

Price History

Date / Event Date Event Price
Jan 30, 2024 Sold
Premium
Sold
Oct 18, 2023 In contract -
In contract
Oct 13, 2023 Listed by Berkshire Hathaway HomeServices Town and Country Real Estate $1,250,000
Listed by Berkshire Hathaway HomeServices Town and Country Real Estate

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1933
  • Effective Year Built: 1975
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 15,617
  • Total Building Area: 1,700
  • Building Area: 1,700
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,700
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000359
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Wellesley School District
  • School Tax School District: WELLESLEY SD
  • Census Tract: 404302

Zoning

  • Zoning: SR10

Geography

  • Parcel: WELL M:149 R:068 S:
  • Municipality: WELLESLEY
  • Latitude: 42.3009
  • Longitude: -71.3005

    Address

  • Full Address: 42 Summit Rd
  • Address - House Number: 42
  • Address - Street Name: Summit
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Wellesley
  • Carrier Code: C050
  • 4-Digit Zip Code: 4641
  • Zip Code: 02482

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,198,800
  • Initial Tax Delinquent Year: 2024

    Appraisal Valuation

  • Standard Deviation: 0.0704
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 95
  • Final Value: 1,233,110
  • High Value: 1,319,949
  • Low Value: 1,146,271

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,047,000
  • Assessed Land Value: $882,000
  • Assessed Improvements Value: $165,000

    Sales

  • Current Sale Contract Date: Jan 30, 2024
  • Current Sale Recording Date: Jan 30, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 1531832
  • Previous Sale Recording Date: Jan 30, 2024
  • Previous Sale Contract Date: Jan 22, 2024
  • Previous Sale Amount: $701,500
  • Previous Sale Document Type: 35

    Financing

  • First Mortgage Financing Type: ADJ
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 Wellesley

Stats & Trends

Median Asking:

$2,150,000

Sale Price/ft²

$671

Below Asking

0.01%

Average Days on Market

65

Average Home Size

4196 ft²

Average Home Age

52 years

Currently For Sale

60 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# 73170252

Frequently Asked Questions

When was property at 42 Summit Road built and last sold?
The property at 42 Summit Road was built in 1933 and last sold on Jan 30, 2024 for $701,500.
How much is this home worth?
The estimated value of the home located at 42 Summit Road is $1,213,036.
What are some comparable homes to 42 Summit Road?
There are currently no comparable homes to 42 Summit Road.
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