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Essex 01951
5 Hanover Drive
$550,000
● House - Off Market

5 Hanover Drive

Newbury, MA 01951
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,889 Ft²
$806,979
RealtyHop Estimate
46.75%
Since Aug 1, 2019
National-US
Primary Model

About This Property

Rare offering in desirable Old Town section of Newbury.  This well maintained cape style home offers a flexible floor plan with an emphasis on energy conservation.  Unusual in this price range, the GEOTHERMAL heating and cooling system combines with solar panels to reduce electric bills.  Propane, the only fossil fuel burned here, heats the instant hot water and is used for the gas stove.  The first floor features a large kitchen/dining area, fireplaced living room, a bedroom, office and full bath.  The second floor with 3/4 dormer has 2 bedrooms plus a bonus room and a bathroom with shower.  Tons of storage.  Heated/air conditioned breezeway with sky-lite. Metal roof! New 3 BR septic!  This is a private location yet close to downtown Newburyport, commuter routes and shopping. Truly a MUST SEE!
Unit Size
1,889 Ft²
Days on Market
-
Land Size
0.29 acres
Price per sqft
$291
Property Type
House
Property Taxes
$346
HOA Dues
-
Year Built
1960

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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 #72507365)

Price History

Date / Event Date Event Price
Jul 29, 2019 Sold
Premium
Sold
May 28, 2019 Listed by Coldwell Banker Residential Brokerage - Newburyport $549,900
Listed by Coldwell Banker Residential Brokerage - Newburyport

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1960
  • Effective Year Built: 1960
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 4
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 13
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 988
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,837
  • Total Building Area: 1,889
  • Gross Building Area: 3,631
  • Building Area: 1,889
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,889
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000295
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Triton School District
  • School Tax School District: TRITON SD
  • Census Tract: 269100

Zoning

  • Zoning: AR4

Geography

  • Parcel: NEWB M:0U08 B:0000 L:00053
  • Lot: 53
  • Municipality: NEWBURY
  • Latitude: 42.7938
  • Longitude: -70.8697

    Address

  • Full Address: 5 Hanover Dr
  • Address - House Number: 5
  • Address - Street Name: Hanover
  • Address - Suffix Type: Dr
  • State: MA
  • City Name: Newbury
  • Carrier Code: C023
  • 4-Digit Zip Code: 1104
  • Zip Code: 01951

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $524,100

    Appraisal Valuation

  • Standard Deviation: 0.1534
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 81
  • Final Value: 803,900
  • High Value: 927,285
  • Low Value: 680,514

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $682,400
  • Assessed Land Value: $269,100
  • Assessed Improvements Value: $413,300

    Sales

  • Current Sale Contract Date: Jul 23, 2019
  • Current Sale Recording Date: Jul 29, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20190729001730
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

2534 ft²

Average Home Age

73 years

Currently For Sale

1483 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 16 Chestnut, Newburyport, 01950

$3,700 /mo

  • 2 Beds
  • 1 Bath
  • 2,706 ft²
16 Chestnut, Newburyport, 01950 Listing by Tami Mallett

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72507365

Frequently Asked Questions

When was property at 5 Hanover Drive built and last sold?
The property at 5 Hanover Drive was built in 1960 and last sold on Jul 23, 2019 for $550,000.
How much is this home worth?
The estimated value of the home located at 5 Hanover Drive is $566,316.
What are some comparable homes to 5 Hanover Drive?
There are currently no comparable homes to 5 Hanover Drive.
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