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Middlesex
56 Chestnut St
$670,000
● House - Off Market

56 Chestnut St

North Reading, MA 01864
bedrooms
3 Beds
bathrooms
2 Baths
square feet
3,034 Ft²
$801,893
RealtyHop Estimate
14.57%
Since Aug 1, 2021
MA-Boston
Primary Model

About This Property

LOVE 2ND CHANCES!!  An ideal property for your horse or two - an ideal property for returning children or in-laws with a full kitchen, full bath, and 2 or 3 bedrooms.  This UNIQUE PROPERTY features 2.3 ACRES, nearly 3000 GLA, part antique - part newer construction!  I would say you have it all and located in the BATCHELDER SCHOOL DISTRICT - one of North Reading's more notable elementary school.  Close at hand is the middle and high school, the library, the school fields, IPSWICH RIVER PARK.  Easily accessible to Route 128/95 - 114 - & route 1.  What's to love?  Sitting in the backyard, listening to the birds, watching wildlife with the sun beaming.  'Caution' there may be some construction going on- repairs from an inspection.
Unit Size
3,034 Ft²
Days on Market
-
Land Size
2.30 acres
Price per sqft
$231
Property Type
House
Property Taxes
$761
HOA Dues
-
Year Built
1935

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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: 5 years ago (MLSPIN #72798336)

Price History

Date / Event Date Event Price
Jul 22, 2021 Sold
Premium
Sold
Mar 15, 2021 Listed by Lamacchia Realty, Inc. $699,900
Listed by Lamacchia Realty, Inc.

Property Highlights

Air Conditioning
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1935
  • Effective Year Built: 1935
  • Building Count: 2
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 15
  • Building Style: 5
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 11
  • Roof Cover Type: 15
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 434
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 100,188
  • Lot Size Frontage Feet: 0
  • Total Building Area: 3,750
  • Building Area: 3,750
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 3,750
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000002300
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: North Reading School District
  • School Tax School District: NO READING SD
  • Census Tract: 330102

Zoning

  • Zoning: RA

Geography

  • District: 213
  • Parcel: NREA M:056.0 B:0000 L:0025.0
  • Lot: 25.0
  • Municipality: NORTH READING
  • Latitude: 42.5649
  • Longitude: -71.0742

    Address

  • Full Address: 56 Chestnut St
  • Address - House Number: 56
  • Address - Street Name: Chestnut
  • Address - Suffix Type: St
  • State: MA
  • City Name: North Reading
  • Carrier Code: C002
  • 4-Digit Zip Code: 2820
  • Zip Code: 01864

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,085,300

    Appraisal Valuation

  • Standard Deviation: 0.155
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 80
  • Final Value: 880,222
  • High Value: 1,016,731
  • Low Value: 743,713

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $821,600
  • Assessed Land Value: $399,100
  • Assessed Improvements Value: $422,500

    Sales

  • Current Sale Contract Date: Jul 22, 2021
  • Current Sale Recording Date: Jul 22, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 165202
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 Middlesex

Stats & Trends

Median Asking:

$810,000

Sale Price/ft²

$439

Below Asking

0.01%

Average Days on Market

55

Average Home Size

2682 ft²

Average Home Age

62.4 years

Currently For Sale

3273 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

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Last Updated: 5 years ago
Data Source: MLS PIN, MLS# 72798336

Frequently Asked Questions

When was property at 56 Chestnut Street built and last sold?
The property at 56 Chestnut Street was built in 1935 and last sold on Jul 22, 2021 for $670,000.
How much is this home worth?
The estimated value of the home located at 56 Chestnut Street is $0.
What are some comparable homes to 56 Chestnut Street?
There are currently no comparable homes to 56 Chestnut Street.
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