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Essex
5 Forest Lane
$632,000
● House - Off Market

5 Forest Lane

Manchester, MA 01944
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
2,806 Ft²
$981,955
RealtyHop Estimate
51.30%
Since Aug 1, 2018
National-US
Primary Model

About This Property

Enjoy serenity and the quiet sounds of nature in a prime neighborhood nestled behind Essex County Club.  Modern design lovers will embrace the opportunity to update this classic, or those looking to build anew will find this the perfect setting for their dream home.  An oversized, 2 plus bay garage, also offers great potential for a workshop, home office, art studio or teen room.  Never be left in the cold with the 10,000kw generator that is included with this property. Minutes to top rated Manchester-Essex schools, beach, commuter rail and route 128, this property offers the best of both worlds – Private and tranquil, yet with easy access to everything you need. PRICED WELL BELOW ASSESSED VALUE....Don't miss this one!
Unit Size
2,806 Ft²
Days on Market
-
Land Size
1.28 acres
Price per sqft
$231
Property Type
House
Property Taxes
$640
HOA Dues
-
Year Built
1970

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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 #72250088)

Price History

Date / Event Date Event Price
Dec 27, 2022 Sold
Premium
Sold
Jul 26, 2018 Sold
Premium
Sold
Nov 1, 2017 Listed by Coldwell Banker Residential Brokerage - Manchester $649,000
Listed by Coldwell Banker Residential Brokerage - Manchester

Property Highlights

Garage
Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1970
  • Effective Year Built: 1970
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 15
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 6
  • Roof Cover Type: 8
  • Floor Count: 200
  • Living Units: 2
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,176
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 33,898
  • Total Building Area: 2,806
  • Gross Building Area: 3,402
  • Building Area: 2,806
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,806
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: C
  • Land Acres: 0000000778
  • Standard Land Use Code: 2044
  • County Land Use Code: 013

Neighborhood

  • School District Name: Manchester Essex Regional School District
  • School Tax School District: MANCHSTR ESSEX
  • Census Tract: 218100

Zoning

  • Zoning: A

Geography

  • District: 166
  • Parcel: MANC M:0037 B:0000 L:0025
  • Lot: 25
  • Municipality: MANCHESTER
  • Latitude: 42.5901
  • Longitude: -70.7527

    Address

  • Full Address: 5 Forest Ln
  • Address - House Number: 5
  • Address - Street Name: Forest
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Manchester
  • Carrier Code: C006
  • 4-Digit Zip Code: 1275
  • Zip Code: 01944

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $789,800

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $844,700
  • Assessed Land Value: $421,400
  • Assessed Improvements Value: $423,300

    Sales

  • Current Sale Contract Date: Nov 20, 2022
  • Current Sale Recording Date: Dec 27, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 34
  • Current Sale Input Document Number: 20221227002670
  • Previous Sale Recording Date: Jul 26, 2018
  • Previous Sale Amount: $632,000
  • 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 Essex

Stats & Trends

Median Asking:

$699,000

Sale Price/ft²

$384

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2597 ft²

Average Home Age

73.2 years

Currently For Sale

1387 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# 72250088

Frequently Asked Questions

When was property at 5 Forest Lane built and last sold?
The property at 5 Forest Lane was built in 1970 and last sold on Nov 20, 2022 for $700,000.
How much is this home worth?
The estimated value of the home located at 5 Forest Lane is $679,205.
What are some comparable homes to 5 Forest Lane?
There are currently no comparable homes to 5 Forest Lane.
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