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Methuen Town 01844
56 Gill Ave
$195,000
● Land - Off Market

56 Gill Ave

Methuen, MA 01844
bedrooms
Studio
bathrooms
0 Bath
$1,275
Est. Monthly

About This Property

"Potentially developable single family lot" 1.7-acre lot located in a central location of Methuen, off a dead-end road. An existing single-family dwelling on the lot is unhabitable due to a fire and must be torn down. Public water and sewer are available on the street. Close to highway access, downtown Methuen, and many amenities. The Buyer is responsible for removing the existing dwelling and the mobile home on site. The Buyer and Buyer's agent are responsible for all permitting and due diligence. The lot abuts conservation land. *Please do not walk or access the lot without scheduling an appointment.
Unit Size
-
Days on Market
-
Land Size
1.70 acres
Price per sqft
-
Property Type
Land
Property Taxes
$298
HOA Dues
-
Year Built
1920

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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 #73148440)

Price History

Date / Event Date Event Price
Aug 13, 2025 Sold
Premium
Sold
Jul 3, 2025 In contract -
In contract
Jun 27, 2025 Price Decreased $699,000
↓ $31K (4.2%)
Price Decreased
Jun 15, 2025 Price Increased $729,900
↑ $535K (274.3%)
Price Increased
Jun 3, 2025 Relisted $195,000
Relisted
Show More

Property Highlights

Parking Available
Garage

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1920
  • Building Count: 1
  • Total Rooms: 4
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 532
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 74,052
  • Total Building Area: 952
  • Gross Building Area: 1,260
  • Building Area: 952
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 952
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000001700
  • 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: 252300

Zoning

  • Zoning: RD

Geography

  • Account Number: 7626
  • Parcel: METH M:00614 B:00150 L:00004
  • Block: 150
  • Lot: 4
  • Municipality: METHUEN
  • Latitude: 42.7188
  • Longitude: -71.1909

    Address

  • Full Address: 56 Gill Ave
  • Address - House Number: 56
  • Address - Street Name: Gill
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Methuen
  • Carrier Code: C028
  • 4-Digit Zip Code: 3542
  • Zip Code: 01844

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $357,200
  • Initial Tax Delinquent Year: 2021

    Appraisal Valuation

  • Standard Deviation: 0.1711
  • Valuation Date: Mar 27, 2024
  • Confidence Score: 78
  • Final Value: 346,208
  • High Value: 405,453
  • Low Value: 286,963

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $305,300
  • Assessed Land Value: $251,100
  • Assessed Improvements Value: $54,200

    Sales

  • Current Sale Contract Date: Mar 07, 2024
  • Current Sale Recording Date: Mar 08, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 3449
  • Previous Sale Recording Date: May 31, 1996
  • Previous Sale Amount: $54,500
  • 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 Methuen Town

Stats & Trends

Median Asking:

$599,900

Sale Price/ft²

$327

Below Asking

0.01%

Average Days on Market

53

Average Home Size

2190 ft²

Average Home Age

60.7 years

Currently For Sale

75 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: 5 months ago
Data Source: MLS PIN, MLS# 73148440

Frequently Asked Questions

When was property at 56 Gill Avenue built and last sold?
The property at 56 Gill Avenue was built in 1920 and last sold on Mar 7, 2024 for $195,000.
How much is this home worth?
The estimated value of the home located at 56 Gill Avenue is $687,571.
What are some comparable homes to 56 Gill Avenue?
There are currently no comparable homes to 56 Gill Avenue.
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