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Wellesley 02481
489 Worcester Street
$2,300,000
● House - Off Market

489 Worcester Street

Wellesley, MA 02481
bedrooms
6 Beds
bathrooms
4 Baths, 1 Half Bath
square feet
5,714 Ft²
$2,262,835
RealtyHop Estimate
2.86%
Since Aug 1, 2022
MA-Boston
Primary Model

About This Property

Builders and developers take notice of this rare Wellesley Hills opportunity.   Possibilities include:  ANR lots, Local Initiative Program (LIP) or renovate this Wellesley gem.  Beautiful 1.59 acre lot with 271 ft of frontage.  Stairs at edge of property lead to Cliff Rd. underpass make for a short distance to train station, shops and restaurants.   The house offers grand formal rooms with period millwork and 6 fireplaces.  Large carriage house with oversized 3-car garage, 2 bedroom apartment and potting shed.  Mahogany wainscoting in dining room, butlers pantry and multiple dumb waiters are a few of the unique bygone era features.  Kousa Dogwood trees, a Weeping Cherry and a towering Beech are just a few of the specimen trees that create a unique bucolic setting.
Unit Size
5,714 Ft²
Days on Market
-
Land Size
1.59 acres
Price per sqft
$385
Property Type
House
Property Taxes
$2,110
HOA Dues
-
Year Built
1890

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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: 6 months ago (MLSPIN #72959882)

Price History

Date / Event Date Event Price
Jul 14, 2022 Sold
Premium
Sold
Mar 30, 2022 Listed by Keller Williams Realty Boston Northwest $2,200,000
Listed by Keller Williams Realty Boston Northwest
Dec 10, 1992 Sold
Premium
Sold

Property Highlights

Parking Available
Garage
Fireplace

Building Info

Overview

    General

  • Year Built: 1890
  • Effective Year Built: 1890
  • Building Count: 2
  • Total Rooms: 13
  • Bedroom Count: 6
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Building Condition: 2
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 2
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 300
  • 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: 69,348
  • Total Building Area: 5,714
  • Building Area: 5,714
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 16
  • Heated Square Feet: 5,714
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: HELEN F BRADFORD
  • Land Acres: 0000001592
  • 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: 404201

Zoning

  • Zoning: SR20

Geography

  • Parcel: WELL M:074 R:032 S:
  • Municipality: WELLESLEY
  • Latitude: 42.3121
  • Longitude: -71.2785

    Address

  • Full Address: 489 Worcester St
  • Address - House Number: 489
  • Address - Street Name: Worcester
  • Address - Suffix Type: St
  • State: MA
  • City Name: Wellesley Hills
  • Carrier Code: C014
  • 4-Digit Zip Code: 4926
  • Zip Code: 02481

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $2,446,900

    Appraisal Valuation

  • Standard Deviation: 0.2147
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 70
  • Final Value: 2,466,255
  • High Value: 2,995,895
  • Low Value: 1,936,616

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $2,137,000
  • Assessed Land Value: $1,811,000
  • Assessed Improvements Value: $326,000

    Sales

  • Current Sale Contract Date: Jul 13, 2022
  • Current Sale Recording Date: Jul 14, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 62939
  • Previous Sale Recording Date: Dec 15, 2010
  • 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 Wellesley

Stats & Trends

Median Asking:

$2,150,000

Sale Price/ft²

$668

Below Asking

0.01%

Average Days on Market

65

Average Home Size

4242 ft²

Average Home Age

45.3 years

Currently For Sale

43 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

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Last Updated: 6 months ago
Data Source: MLS PIN, MLS# 72959882

Frequently Asked Questions

When was property at 489 Worcester Street built and last sold?
The property at 489 Worcester Street was built in 1890 and last sold on Jul 13, 2022 for $2,300,000.
How much is this home worth?
The estimated value of the home located at 489 Worcester Street is $2,231,477.
What are some comparable homes to 489 Worcester Street?
There are currently no comparable homes to 489 Worcester Street.
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