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Reading 01867
493 Franklin Street
$700,000
● House - Off Market

493 Franklin Street

Reading, MA 01867
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,670 Ft²
$609,553
RealtyHop Estimate
1.61%
Since Jul 1, 2022
MA-Boston
Primary Model

About This Property

Perched on a beautiful 1/2 acre lot sits this Solid Embankment Ranch featuring 3 bedrooms 1.5 baths and hardwood floors throughout. What can be seen is a home with incredible potential, but in need of updates throughout.  What cannot be seen is the love, laughter and tears these four walls has seen over the past 54 years!  Large Living room has fireplace and built-ins,  full bath and three generously sized bedrooms complete the first floor.  The lower level features an oversized family room also with fireplace and closet for the potential of a 4th bedroom if needed.  The LL laundry room has 1/2 bath plus exterior shower and laundry area.  2 car garage!  This family home is close proximity to Meadowbrook Country Club & Wood End Elementary School, and close proximity to major routes.
Unit Size
1,670 Ft²
Days on Market
-
Land Size
0.46 acres
Price per sqft
$359
Property Type
House
Property Taxes
$656
HOA Dues
-
Year Built
1961

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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: 4 months ago (MLSPIN #72962943)

Price History

Date / Event Date Event Price
Jun 1, 2022 Sold
Premium
Sold
Apr 6, 2022 Listed by Leading Edge Real Estate $599,900
Listed by Leading Edge Real Estate
Jul 9, 1968 Sold
Premium
Sold

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1961
  • Effective Year Built: 1972
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 19
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,248
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 20,068
  • Total Building Area: 1,670
  • Gross Building Area: 2,544
  • Building Area: 1,670
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,670
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000461
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Reading School District
  • School Tax School District: READING SD
  • Census Tract: 334300

Zoning

  • Zoning: S20

Geography

  • Account Number: 1760000000
  • Parcel: READ M:038.0-0000-0173.0
  • Municipality: READING
  • Latitude: 42.5443
  • Longitude: -71.1216

    Address

  • Full Address: 493 Franklin St
  • Address - House Number: 493
  • Address - Street Name: Franklin
  • Address - Suffix Type: St
  • State: MA
  • City Name: Reading
  • Carrier Code: C031
  • 4-Digit Zip Code: 1221
  • Zip Code: 01867

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $851,900
  • Initial Tax Delinquent Year: 2023

    Appraisal Valuation

  • Standard Deviation: 0.1753
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 77
  • Final Value: 773,189
  • High Value: 908,770
  • Low Value: 637,608

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $726,900
  • Assessed Land Value: $476,400
  • Assessed Improvements Value: $250,500

    Sales

  • Current Sale Contract Date: Jun 01, 2022
  • Current Sale Recording Date: Jun 01, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 82120
  • Previous Sale Recording Date: Nov 26, 2014
  • 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 Reading

Stats & Trends

Median Asking:

$857,450

Sale Price/ft²

$457

Below Asking

0.01%

Average Days on Market

50

Average Home Size

2129 ft²

Average Home Age

56.3 years

Currently For Sale

40 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: 4 months ago
Data Source: MLS PIN, MLS# 72962943

Frequently Asked Questions

When was property at 493 Franklin Street built and last sold?
The property at 493 Franklin Street was built in 1961 and last sold on Jun 1, 2022 for $700,000.
How much is this home worth?
The estimated value of the home located at 493 Franklin Street is $626,086.
What are some comparable homes to 493 Franklin Street?
There are currently no comparable homes to 493 Franklin Street.
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