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Lynnfield 01940
56 Locust Street
$320,000
● House - Off Market

56 Locust Street

Lynnfield, MA 01940
bedrooms
2 Beds
bathrooms
1 Bath
square feet
1,747 Ft²
$580,763
RealtyHop Estimate
76.04%
Since Jun 1, 2015
MA-Boston
Primary Model

About This Property

Located on a dead end street, this ranch style home situated on a corner lot offers a fire placed living room and dining area. An eat in kitchen, two bedrooms, the dining room space could be used as a first floor den. A spacious porch leading to the back yard, partially finished 27x11 lower level room with a fire place and a one car oversized attached garage.
Unit Size
1,747 Ft²
Days on Market
-
Land Size
0.24 acres
Price per sqft
$189
Property Type
House
Property Taxes
$364
HOA Dues
-
Year Built
1955

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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 #71798142)

Price History

Date / Event Date Event Price
May 22, 2015 Sold
Premium
Sold
Mar 6, 2015 Listed by Boardwalk Real Estate $329,900
Listed by Boardwalk Real Estate

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1955
  • Effective Year Built: 1955
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 3
  • 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: 3
  • Basement Area: 1,529
  • Garage Type: 17
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,668
  • Total Building Area: 1,747
  • Gross Building Area: 2,352
  • Building Area: 1,747
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,747
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000245
  • 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:0048 B:0000 L:2387
  • Lot: 2387
  • Municipality: LYNNFIELD
  • Latitude: 42.5166
  • Longitude: -70.9961

    Address

  • Full Address: 56 Locust St
  • Address - House Number: 56
  • Address - Street Name: Locust
  • Address - Suffix Type: St
  • State: MA
  • City Name: Lynnfield
  • Carrier Code: C011
  • 4-Digit Zip Code: 1565
  • Zip Code: 01940

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $561,500

    Appraisal Valuation

  • Standard Deviation: 0.1816
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 76
  • Final Value: 670,287
  • High Value: 791,889
  • Low Value: 548,685

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $534,300
  • Assessed Land Value: $362,300
  • Assessed Improvements Value: $172,000

    Sales

  • Current Sale Recording Date: May 22, 2015
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 52200205
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:

$999,995

Sale Price/ft²

$400

Below Asking

0.02%

Average Days on Market

53

Average Home Size

3477 ft²

Average Home Age

47.6 years

Currently For Sale

24 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 months ago
Data Source: MLS PIN, MLS# 71798142

Frequently Asked Questions

When was property at 56 Locust Street built and last sold?
The property at 56 Locust Street was built in 1955 and last sold on Jan 1, 1970 for $320,000.
How much is this home worth?
The estimated value of the home located at 56 Locust Street is $354,570.
What are some comparable homes to 56 Locust Street?
There are currently no comparable homes to 56 Locust Street.
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