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Methuen Town 01844
54 Chippy Ln
$387,000
● House - Off Market

54 Chippy Ln

Methuen, MA 01844
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,097 Ft²
$609,909
RealtyHop Estimate
60.54%
Since Jul 1, 2017
National-US
Primary Model

About This Property

Pristine, well-maintained home in convenient location near Rt. 93, Rt. 495 and Rt. 213., close to shopping and restaurants.  Spacious main level features hardwood floors throughout and includes 3 bedrooms, a recently remodeled full bathroom, spacious living room, dining room, and updated kitchen with granite countertops and stainless steel appliances.  This home has had numerous upgrades including new windows, tankless water heater and new bathtub/tile in main floor bathroom in 2015.  Beautifully finished lower level offers a potential in-law suite with roomy living area, fireplace, kitchenette and bathroom.  Open floor plan and large, level yard provide the perfect space for entertaining.
Unit Size
2,097 Ft²
Days on Market
-
Land Size
0.27 acres
Price per sqft
$181
Property Type
House
Property Taxes
$359
HOA Dues
-
Year Built
1982

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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 #72153817)

Price History

Date / Event Date Event Price
Mar 2, 2021 Sold
Premium
Sold
Jan 28, 2021 Listed by Keller Williams Realty $490,000
Listed by Keller Williams Realty
Jun 8, 2017 Sold
Premium
Sold
Apr 27, 2017 Listed by Keller Williams Realty $379,900
Listed by Keller Williams Realty

Property Highlights

Parking Available
Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1982
  • Effective Year Built: 1982
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 19
  • 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: 1,144
  • Garage Type: 17
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,844
  • Total Building Area: 1,754
  • Gross Building Area: 2,426
  • Building Area: 1,754
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,754
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LARCHMONT ESTATES
  • Land Acres: 0000000272
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Methuen School District
  • School Tax School District: METHUEN SD
  • Census Tract: 252601

Zoning

  • Zoning: RD

Geography

  • Account Number: 3796
  • Parcel: METH M:01012 B:00108 L:00003Q
  • Block: 108
  • Lot: 3Q
  • Municipality: METHUEN
  • Latitude: 42.7412
  • Longitude: -71.1459

    Address

  • Full Address: 54 Chippy Ln
  • Address - House Number: 54
  • Address - Street Name: Chippy
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Methuen
  • Carrier Code: R001
  • 4-Digit Zip Code: 7427
  • Zip Code: 01844

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $530,100
  • Initial Tax Delinquent Year: 2023

    Appraisal Valuation

  • Standard Deviation: 0.1692
  • Valuation Date: Mar 27, 2024
  • Confidence Score: 78
  • Final Value: 586,842
  • High Value: 686,194
  • Low Value: 487,490

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $453,100
  • Assessed Land Value: $179,600
  • Assessed Improvements Value: $273,500

    Sales

  • Current Sale Contract Date: Mar 02, 2021
  • Current Sale Recording Date: Mar 02, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 7135
  • Previous Sale Recording Date: Jun 08, 2017
  • Previous Sale Amount: $387,000
  • Previous Sale Document Type: O
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 Methuen Town

Stats & Trends

Median Asking:

$599,900

Sale Price/ft²

$326

Below Asking

0.01%

Average Days on Market

53

Average Home Size

2221 ft²

Average Home Age

56.1 years

Currently For Sale

74 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

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72153817

Frequently Asked Questions

When was property at 54 Chippy Lane built and last sold?
The property at 54 Chippy Lane was built in 1982 and last sold on Mar 2, 2021 for $535,000.
How much is this home worth?
The estimated value of the home located at 54 Chippy Lane is $495,583.
What are some comparable homes to 54 Chippy Lane?
There are currently no comparable homes to 54 Chippy Lane.
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