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Melrose 02176 Melrose East Side
45 Spear St.
$882,000
● House - Off Market

45 Spear St.

Melrose, MA 02176
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,929 Ft²
$952,998
RealtyHop Estimate
6.01%
Since Mar 1, 2023
MA-Boston
Primary Model

About This Property

Outstanding opportunity to live in an absolutely prime Melrose location. Come see this spacious and well cared for home situated near the coveted Hoover elementary school. A wonderful layout in this bright and sunny three bedroom, two and a half bath property complete with central air conditioning, first floor hardwood floors (carpets on second floor), recessed lighting, ample closet space and more. Cozy up to the gas fireplace in the enclosed rear porch overlooking the large, level backyard and stylish rear deck. In addition, the third floor has just over 750sq.ft. of easily finishable living space(buyer to do their own due diligence); bring your ideas and add instant value.
Unit Size
1,929 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$466
Property Type
House
Property Taxes
$575
HOA Dues
-
Year Built
1952

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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 #73068065)

Price History

Date / Event Date Event Price
Feb 28, 2023 Sold
Premium
Sold
Jan 23, 2023 In contract -
In contract
Jan 4, 2023 Listed by Unlimited Sotheby's International Realty $899,000
Listed by Unlimited Sotheby's International Realty
Apr 19, 2002 Sold
Premium
Sold
Dec 12, 2001 Listed by Unlimited Sotheby's International Realty $389,000
Listed by Unlimited Sotheby's International Realty
Show More

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1952
  • Effective Year Built: 1952
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • 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: 7
  • Basement Area: 720
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,920
  • Total Building Area: 1,488
  • Gross Building Area: 3,414
  • Building Area: 1,488
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,488
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000136
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Melrose School District
  • School Tax School District: MELROSE SD
  • Census Tract: 336300

Zoning

  • Zoning: URA

Geography

  • Parcel: MELR M:0E4 P:0000118
  • Municipality: MELROSE
  • Latitude: 42.4482
  • Longitude: -71.0534

    Address

  • Full Address: 45 Spear St
  • Address - House Number: 45
  • Address - Street Name: Spear
  • Address - Suffix Type: St
  • State: MA
  • City Name: Melrose
  • Carrier Code: C031
  • 4-Digit Zip Code: 5615
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $730,000
  • Initial Tax Delinquent Year: 2023

    Appraisal Valuation

  • Standard Deviation: 0.1772
  • Valuation Date: Feb 07, 2024
  • Confidence Score: 77
  • Final Value: 830,764
  • High Value: 978,005
  • Low Value: 683,522

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $735,100
  • Assessed Land Value: $395,500
  • Assessed Improvements Value: $339,600

    Sales

  • Current Sale Contract Date: Feb 28, 2023
  • Current Sale Recording Date: Feb 28, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 19996
  • Previous Sale Recording Date: Apr 19, 2002
  • Previous Sale Amount: $389,000
  • 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 Melrose East Side

Stats & Trends

Median Asking:

$934,950

Sale Price/ft²

$455

Below Asking

0.01%

Average Days on Market

47

Average Home Size

1976 ft²

Average Home Age

93.5 years

Currently For Sale

6 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 195 Pleasant St, MA, 02148

$1,670 /mo

  • 1 Bed
  • 1 Bath
195 Pleasant St, MA, 02148 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# 73068065

Frequently Asked Questions

When was property at 45 Spear Street built and last sold?
The property at 45 Spear Street was built in 1952 and last sold on Feb 28, 2023 for $882,000.
How much is this home worth?
The estimated value of the home located at 45 Spear Street is $879,202.
What are some comparable homes to 45 Spear Street?
There are currently no comparable homes to 45 Spear Street.
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