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South Lancaster 01523
56 Ivy Drive
$370,000
● House - Off Market

56 Ivy Drive

Lancaster, MA 01523
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,196 Ft²
$2,236
Est. Monthly

About This Property

Fantastic OPPORTUNITY to live in a beautiful neighborhood in Lancaster!  Just minutes from all your needs. You will be pleasantly surprised at how roomy this ranch is. Roof is around 10+/- yrs, oil tank was replaced around 2018 +/-, Weil-McLain boiler 2013 +/- ... Kitchen w/ stove top and wall oven. The dining room is open to a nice size living room w/fireplace, hardwoods floors throughout except in baths and kitchen. All three bedrooms with hardwood floors and ample closet space. Full bath has handicap walk-in tub w/jets. Full basement with potential to finish. Title 5 PASSED. Town water. One car garage leads to porch or deck out back w/remote control awning for shade . Lots of perennials! Shed. Close to shops and restaurants. With some TLC this home would be spectacular!!
Unit Size
1,196 Ft²
Days on Market
-
Land Size
0.47 acres
Price per sqft
$300
Property Type
House
Property Taxes
$473
HOA Dues
-
Year Built
1963

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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 #73199118)

Price History

Date / Event Date Event Price
Mar 6, 2024 Sold
Premium
Sold
Feb 6, 2024 In contract -
In contract
Feb 2, 2024 Listed by Keller Williams Realty North Central $359,000
Listed by Keller Williams Realty North Central

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1963
  • Effective Year Built: 1980
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 3
  • Building Style: 11
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 1,196
  • Garage Type: 1
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 20,473
  • Total Building Area: 1,196
  • Gross Building Area: 1,196
  • Building Area: 1,196
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,196
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000470
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Nashoba School District
  • Census Tract: 713100

Geography

  • Parcel: LANC M:041.0 B:0000 L:0151.0
  • Lot: 151.0
  • Municipality: LANCASTER
  • Latitude: 42.4347
  • Longitude: -71.6932

    Address

  • Full Address: 56 Ivy Dr
  • Address - House Number: 56
  • Address - Street Name: Ivy
  • Address - Suffix Type: Dr
  • State: MA
  • City Name: Lancaster
  • Carrier Code: R001
  • 4-Digit Zip Code: 1905
  • Zip Code: 01523

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $567,100

    Appraisal Valuation

  • Standard Deviation: 0.0856
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 93
  • Final Value: 366,763
  • High Value: 398,194
  • Low Value: 335,332

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $329,900
  • Assessed Land Value: $91,300
  • Assessed Improvements Value: $238,600

    Sales

  • Current Sale Contract Date: Mar 06, 2024
  • Current Sale Recording Date: Mar 06, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 16426
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 South Lancaster

Stats & Trends

Median Asking:

$479,900

Sale Price/ft²

$298

Below Asking

0.02%

Average Days on Market

53

Average Home Size

1508 ft²

Average Home Age

95 years

Currently For Sale

3 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: 4 months ago
Data Source: MLS PIN, MLS# 73199118

Frequently Asked Questions

When was property at 56 Ivy Drive built and last sold?
The property at 56 Ivy Drive was built in 1963 and last sold on Mar 6, 2024 for $370,000.
How much is this home worth?
The estimated value of the home located at 56 Ivy Drive is $364,298.
What are some comparable homes to 56 Ivy Drive?
There are currently no comparable homes to 56 Ivy Drive.
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