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Reading 01867
lot 5 Joy
$1,500,000
● House - Off Market

lot 5 Joy

Reading, MA 01867
bedrooms
4 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
3,400 Ft²
$1,593,790
RealtyHop Estimate
6.25%
Since Nov 1, 2022
MA-Boston
Primary Model

About This Property

TO BE BUILT.  BACK UP RESERVATIONS FOR NEW DEVELOPMENT IN READING'S WEST SIDE.  BASE PRICE INCLUDES FIRST FLOOR, 2ND FLOOR.  Hardwood floors for first floor, stairs and 2nd floor hallway,  All bedrooms are carpeted.  Specifications are attached.  Building may not be complete until late Fall or Winter.  See attached plot plan, specification sheet, and house plan,
Unit Size
3,400 Ft²
Days on Market
-
Land Size
0.34 acres
Price per sqft
$441
Property Type
House
Property Taxes
$47,324
HOA Dues
-
Year Built
2022

Payment Calculator

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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 #72946013)

Price History

Date / Event Date Event Price
Nov 30, 2022 Sold
Premium
Sold
Oct 31, 2022 Sold
Premium
Sold
Feb 22, 2022 Listed by Fitzgerald & Associates $1,500,000
Listed by Fitzgerald & Associates

Property Highlights

Air Conditioning
Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 2022
  • Effective Year Built: 2022
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,611
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 15,015
  • Lot Size Frontage Feet: 0
  • Total Building Area: 4,678
  • Gross Building Area: 7,914
  • Building Area: 4,678
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 4,678
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000345
  • 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: 334100

Zoning

  • Zoning: S15

Geography

  • Account Number: 300000000
  • Parcel: READ M:010.0-0000-0361.0
  • Municipality: READING
  • Latitude: 42.515
  • Longitude: -71.1222

    Address

  • Full Address: 5 Joy Ln
  • Address - House Number: 5
  • Address - Street Name: Joy
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Reading
  • Carrier Code: C026
  • 4-Digit Zip Code: 3300
  • Zip Code: 01867

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,601,500

    Appraisal Valuation

  • Standard Deviation: 0.1645
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 79
  • Final Value: 1,008,060
  • High Value: 1,173,908
  • Low Value: 842,211

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $1,366,500
  • Assessed Land Value: $481,100
  • Assessed Improvements Value: $885,400

    Sales

  • Current Sale Contract Date: Nov 30, 2022
  • Current Sale Recording Date: Nov 30, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 175324

    Financing

  • First Mortgage Financing Type: ADJ
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:

$849,900

Sale Price/ft²

$457

Below Asking

0.01%

Average Days on Market

50

Average Home Size

2173 ft²

Average Home Age

54 years

Currently For Sale

35 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# 72946013

Frequently Asked Questions

When was property at 5 Joy Lane built and last sold?
The property at 5 Joy Lane was built in 2022 and last sold on Nov 30, 2022 for $1,500,000.
How much is this home worth?
The estimated value of the home located at 5 Joy Lane is $1,519,076.
What are some comparable homes to 5 Joy Lane?
There are currently no comparable homes to 5 Joy Lane.
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