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Marblehead 01945
56 Commercial St
$660,000
● House - Off Market

56 Commercial St

Marblehead, MA 01945
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,356 Ft²
$1,008,170
RealtyHop Estimate
49.36%
Since Jan 1, 2019
MA-Boston
Primary Model

About This Property

Enjoy the harborside lifestyle with this charming colonial home. Located in the Shipyard neighborhood, this 3 bed 1.5 bath home features a spacious backyard, open floor plan, peeks of the harbor, 3 car driveway, and close proximity to both Marblehead's historic Old Town and the shops and restaurants on Atlantic Ave! Having gone through an extensive character-maintaining renovation in 2015, this home has a new high efficiency gas boiler, water heater, plumbing, electrical wiring, all new Anderson windows, and a repointed fireplace/chimney to enjoy during the cooler months.
Unit Size
1,356 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$498
Property Type
House
Property Taxes
$449
HOA Dues
-
Year Built
1866

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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 months ago (MLSPIN #72417149)

Price History

Date / Event Date Event Price
Dec 20, 2018 Sold
Premium
Sold
Oct 29, 2018 Listed by William Raveis R.E. & Home Services $675,000
Listed by William Raveis R.E. & Home Services
Feb 13, 2015 Sold
Premium
Sold
Sep 15, 2014 Listed by William Raveis R.E. & Home Services $435,000
Listed by William Raveis R.E. & Home Services

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1866
  • Effective Year Built: 1866
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 18
  • 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: 780
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,900
  • Total Building Area: 1,903
  • Gross Building Area: 3,924
  • Building Area: 1,903
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 16
  • Heated Square Feet: 1,903
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000135
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Marblehead School District
  • School Tax School District: MARBLEHEAD SD
  • Census Tract: 203200

Zoning

  • Zoning: GR

Geography

  • District: 168
  • Parcel: MARB M:0114 B:0027 L:0
  • Block: 27
  • Municipality: MARBLEHEAD
  • Latitude: 42.4974
  • Longitude: -70.8541

    Address

  • Full Address: 56 Commercial St
  • Address - House Number: 56
  • Address - Street Name: Commercial
  • Address - Suffix Type: St
  • State: MA
  • City Name: Marblehead
  • Carrier Code: C041
  • 4-Digit Zip Code: 3169
  • Zip Code: 01945

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $985,700
  • Initial Tax Delinquent Year: 2022

    Appraisal Valuation

  • Standard Deviation: 0.2096
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 71
  • Final Value: 1,018,718
  • High Value: 1,230,881
  • Low Value: 806,556

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $1,100,100
  • Assessed Land Value: $578,900
  • Assessed Improvements Value: $521,200

    Sales

  • Current Sale Contract Date: Nov 30, 2018
  • Current Sale Recording Date: Dec 20, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20181220002950
  • Previous Sale Recording Date: Feb 13, 2015
  • Previous Sale Amount: $415,000
  • 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 Marblehead

Stats & Trends

Median Asking:

$989,000

Sale Price/ft²

$538

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2992 ft²

Average Home Age

92.3 years

Currently For Sale

38 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: 5 months ago
Data Source: MLS PIN, MLS# 72417149

Frequently Asked Questions

When was property at 56 Commercial Street built and last sold?
The property at 56 Commercial Street was built in 1866 and last sold on Nov 30, 2018 for $660,000.
How much is this home worth?
The estimated value of the home located at 56 Commercial Street is $678,454.
What are some comparable homes to 56 Commercial Street?
There are currently no comparable homes to 56 Commercial Street.
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