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Reading 01867
50 Covey Hill Rd
$750,000
● House - Off Market

50 Covey Hill Rd

Reading, MA 01867
bedrooms
4 Beds
bathrooms
3 Baths
square feet
3,050 Ft²
$1,250,810
RealtyHop Estimate
66.80%
Since Aug 1, 2016
MA-Boston
Primary Model

About This Property

There is room for everybody in this well cared for oversized split.  Set on a half acre corner lot located in one of Readings most sought after locations. Updated kitchen with gas stove, double wall oven, stainless appliances, granite counters and beautiful maple cabinets.  The 16 year old addition has a spacious master bedroom with walk-in closet and master bath.  All four of the bedrooms are generous in size and the two large finished rooms in the lower level offer all sorts of living options.  Enjoy the private backyard while you relax on the new deck or grill on the patio.  The oversized garage offers plenty of storage.  Other amenities include 2 fireplaces, 2 air conditioning zones, gas heat and pull down attic access for additional storage. Open houses Saturday 5/21 from 12-2 and Sunday 5/22 from 12-2.
Unit Size
3,050 Ft²
Days on Market
-
Land Size
0.50 acres
Price per sqft
$246
Property Type
House
Property Taxes
$794
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: 6 months ago (MLSPIN #72009805)

Price History

Date / Event Date Event Price
Jul 14, 2016 Sold
Premium
Sold
May 19, 2016 Listed by RE/MAX Leading Edge $749,900
Listed by RE/MAX Leading Edge
Mar 29, 2000 Sold
Premium
Sold

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1970
  • Effective Year Built: 1975
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 42
  • 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: 2,340
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 21,645
  • Total Building Area: 3,490
  • Gross Building Area: 5,396
  • Building Area: 3,490
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 3,490
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000497
  • 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: 1340000001
  • Parcel: READ M:038.0-0000-0053.0
  • Municipality: READING
  • Latitude: 42.5414
  • Longitude: -71.1215

    Address

  • Full Address: 50 Covey Hill Rd
  • Address - House Number: 50
  • Address - Street Name: Covey Hill
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Reading
  • Carrier Code: C031
  • 4-Digit Zip Code: 1454
  • Zip Code: 01867

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,246,100
  • Initial Tax Delinquent Year: 2023

    Appraisal Valuation

  • Standard Deviation: 0.1769
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 77
  • Final Value: 1,219,077
  • High Value: 1,434,739
  • Low Value: 1,003,414

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $1,063,200
  • Assessed Land Value: $505,200
  • Assessed Improvements Value: $558,000

    Sales

  • Current Sale Recording Date: Jul 14, 2016
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 117236
  • Previous Sale Recording Date: Mar 29, 2000
  • Previous Sale Amount: $340,000
  • 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 Reading

Stats & Trends

Median Asking:

$879,900

Sale Price/ft²

$456

Below Asking

0.01%

Average Days on Market

50

Average Home Size

2092 ft²

Average Home Age

54.4 years

Currently For Sale

24 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: 6 months ago
Data Source: MLS PIN, MLS# 72009805

Frequently Asked Questions

When was property at 50 Covey Hill Road built and last sold?
The property at 50 Covey Hill Road was built in 1970 and last sold on Jan 1, 1970 for $750,000.
How much is this home worth?
The estimated value of the home located at 50 Covey Hill Road is $786,628.
What are some comparable homes to 50 Covey Hill Road?
There are currently no comparable homes to 50 Covey Hill Road.
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