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Essex 01938
5 Herrick Drive
$580,000
● House - Off Market

5 Herrick Drive

Ipswich, MA 01938
bedrooms
2 Beds
bathrooms
3 Baths
square feet
1,392 Ft²
$635,164
RealtyHop Estimate
5.86%
Since Feb 1, 2023
National-US
Primary Model

About This Property

Private custom built 2 bedroom split level with expansion possibilities on a large lot. This home features hardwood floors,beamed and vaulted ceilings, and 2 stone fireplaces. There is a large deck off the living room and main bedroom, that encompasses the whole length of the back exterior of the home,that can be accessed through sliders in the living room and main bedroom.The basement boasts 2 additional areas that can be finished for more living space. One area has the stone fireplace. The exterior of the home has two areas to enjoy the outdoors. One area is enclosed and the other is open. There is an outside shed to store your lawn items and more.There is an underground oil tank on the property.
Unit Size
1,392 Ft²
Days on Market
-
Land Size
1.15 acres
Price per sqft
$431
Property Type
House
Property Taxes
$585
HOA Dues
-
Year Built
1976

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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 #73042048)

Price History

Date / Event Date Event Price
Jan 17, 2023 Sold
Premium
Sold
Dec 8, 2022 In contract -
In contract
Sep 23, 2022 Listed by Berkshire Hathaway HomeServices Commonwealth Real Estate $599,999
Listed by Berkshire Hathaway HomeServices Commonwealth Real Estate

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1976
  • Effective Year Built: 1976
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 42
  • Exterior Walls Type: 0
  • 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: 1,104
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 50,355
  • Total Building Area: 1,392
  • Gross Building Area: 3,456
  • Building Area: 1,392
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,392
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: HERRICK ACRES
  • Land Acres: 0000001156
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Ipswich School District
  • School Tax School District: IPSWICH SD
  • Census Tract: 223300

Zoning

  • Zoning: RRA

Geography

  • Parcel: IPSW M:37A B:0016 L:0
  • Block: 16
  • Municipality: IPSWICH
  • Latitude: 42.679
  • Longitude: -70.9377

    Address

  • Full Address: 5 Herrick Dr
  • Address - House Number: 5
  • Address - Street Name: Herrick
  • Address - Suffix Type: Dr
  • State: MA
  • City Name: Ipswich
  • Carrier Code: C010
  • 4-Digit Zip Code: 1008
  • Zip Code: 01938

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $767,400
  • Initial Tax Delinquent Year: 2023

    Appraisal Valuation

  • Standard Deviation: 0.1575
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 80
  • Final Value: 696,855
  • High Value: 806,615
  • Low Value: 587,094

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $674,300
  • Assessed Land Value: $416,100
  • Assessed Improvements Value: $258,200

    Sales

  • Current Sale Contract Date: Jan 13, 2023
  • Current Sale Recording Date: Jan 17, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20230117000060
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

2533 ft²

Average Home Age

72.6 years

Currently For Sale

1471 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# 73042048

Frequently Asked Questions

When was property at 5 Herrick Drive built and last sold?
The property at 5 Herrick Drive was built in 1976 and last sold on Jan 13, 2023 for $580,000.
How much is this home worth?
The estimated value of the home located at 5 Herrick Drive is $603,564.
What are some comparable homes to 5 Herrick Drive?
There are currently no comparable homes to 5 Herrick Drive.
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