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Lynnfield 01940
557 Summer St
$450,000
● House - Off Market

557 Summer St

Lynnfield, MA 01940
bedrooms
5 Beds
bathrooms
2 Baths
square feet
2,109 Ft²
$704,866
RealtyHop Estimate
56.64%
Since Jul 1, 2017
MA-Boston
Primary Model

About This Property

Have you been looking for the perfect Location to build your "Dream Home"? Then you'll love the "MILLION DOLLAR VIEWS" this 33,024 sq ft lot has to offer!  Overlooking Pillings Pond, this property gives the Buyer a sense a tranquility and privacy and yet it's so convenient to local shops, schools, and everything Lynnfield has to offer!   Buyer has the option to renovate the existing structure or build the Home of your Dreams!  Come see in person to really appreciate this unique offering. Seller prefers CASH BUYER as this property may not qualify for traditional financing.  Book your appointment today!
Unit Size
2,109 Ft²
Days on Market
-
Land Size
0.76 acres
Price per sqft
$213
Property Type
House
Property Taxes
$428
HOA Dues
-
Year Built
1925

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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 #72160946)

Price History

Date / Event Date Event Price
Jun 27, 2017 Sold
Premium
Sold
May 9, 2017 Listed by Boston Local Properties, LLC $450,000
Listed by Boston Local Properties, LLC

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1925
  • Effective Year Built: 1925
  • Building Count: 1
  • Total Rooms: 9
  • Bedroom Count: 5
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,054
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 33,023
  • Total Building Area: 2,109
  • Gross Building Area: 4,004
  • Building Area: 2,109
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,109
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000758
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Lynnfield School District
  • School Tax School District: LYNNFIELD SD
  • Census Tract: 209100

Zoning

  • Zoning: RA

Geography

  • District: 164
  • Parcel: LYNF M:0041 B:0000 L:0435
  • Lot: 435
  • Municipality: LYNNFIELD
  • Latitude: 42.5276
  • Longitude: -71.0307

    Address

  • Full Address: 557 Summer St
  • Address - House Number: 557
  • Address - Street Name: Summer
  • Address - Suffix Type: St
  • State: MA
  • City Name: Lynnfield
  • Carrier Code: C002
  • 4-Digit Zip Code: 2004
  • Zip Code: 01940

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $769,400

    Appraisal Valuation

  • Standard Deviation: 0.1579
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 78
  • Final Value: 833,029
  • High Value: 975,425
  • Low Value: 690,632

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $732,100
  • Assessed Land Value: $446,700
  • Assessed Improvements Value: $285,400

    Sales

  • Current Sale Contract Date: Jun 23, 2017
  • Current Sale Recording Date: Jun 27, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 583687

    Financing

  • First Mortgage Financing Type: UNK
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 Lynnfield

Stats & Trends

Median Asking:

$1,000,000

Sale Price/ft²

$402

Below Asking

0.02%

Average Days on Market

56

Average Home Size

3523 ft²

Average Home Age

41.7 years

Currently For Sale

19 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# 72160946

Frequently Asked Questions

When was property at 557 Summer Street built and last sold?
The property at 557 Summer Street was built in 1925 and last sold on Jun 23, 2017 for $450,000.
How much is this home worth?
The estimated value of the home located at 557 Summer Street is $454,865.
What are some comparable homes to 557 Summer Street?
There are currently no comparable homes to 557 Summer Street.
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