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Springfield 01118 East Forest Park
59 Lancaster St
$245,000
● House - Off Market

59 Lancaster St

Springfield, MA 01118
bedrooms
2 Beds
bathrooms
1 Bath
square feet
888 Ft²
$240,563
RealtyHop Estimate
4.64%
Since Nov 1, 2022
National-US
Primary Model

About This Property

Welcome Home! This expandable Cape Cod, contains an updated eat-in kitchen, granite countertops, custom built-ins and access to a patio. The large family room which features a fireplace and hardwood floors.  Updates include; exterior chimney work, concrete patio installed 2020 and walkways and a full bathroom, exterior doors and hot water tank installed 2019.  The appliances to remain for the Buyers are the refrigerator, stove, dishwasher, microwave, washer & dryer.  The wide center stairs lead to unfinished 2nd level of home with plenty of possibilities. The full unfinished basement with laundry area can be remolded into a TV room, workout space, or playroom for your kids, but wait...there's more, A detached one car garage for a car plus all bikes, tools and toys you own!
Unit Size
888 Ft²
Days on Market
-
Land Size
0.15 acres
Price per sqft
$259
Property Type
House
Property Taxes
$264
HOA Dues
-
Year Built
1942

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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 #72998930)

Price History

Date / Event Date Event Price
Oct 4, 2022 Sold
Premium
Sold
Jun 16, 2022 Listed by RE/MAX IGNITE $229,900
Listed by RE/MAX IGNITE
Jun 26, 2018 Sold
Premium
Sold
May 23, 2018 Sold
Premium
Sold
Mar 2, 2018 Listed by RE/MAX IGNITE $124,900
Listed by RE/MAX IGNITE
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Property Highlights

Parking Available
Garage
Fireplace

Building Info

Overview

    General

  • Year Built: 1942
  • Effective Year Built: 1942
  • Building Count: 1
  • Total Rooms: 4
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 4
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,499
  • Total Building Area: 888
  • Gross Building Area: 888
  • Building Area: 888
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 888
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000149
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Springfield School District
  • School Tax School District: SPRINGFIELD SD
  • Census Tract: 802400

Zoning

  • Zoning: R1

Geography

  • Account Number: 74850032
  • Parcel: SPRI S:07485 P:0032
  • Municipality: SPRINGFIELD
  • Latitude: 42.0973
  • Longitude: -72.5399

    Address

  • Full Address: 59 Lancaster St
  • Address - House Number: 59
  • Address - Street Name: Lancaster
  • Address - Suffix Type: St
  • State: MA
  • City Name: Springfield
  • Carrier Code: C023
  • 4-Digit Zip Code: 1112
  • Zip Code: 01118

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $314,100

    Appraisal Valuation

  • Standard Deviation: 0.2101
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 71
  • Final Value: 244,229
  • High Value: 295,546
  • Low Value: 192,912

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $184,200
  • Assessed Land Value: $44,800
  • Assessed Improvements Value: $139,400

    Sales

  • Current Sale Contract Date: Oct 04, 2022
  • Current Sale Recording Date: Oct 04, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 59627
  • Previous Sale Recording Date: Jun 26, 2018
  • Previous Sale Amount: $122,000
  • 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 East Forest Park

Stats & Trends

Median Asking:

$299,900

Sale Price/ft²

$228

Below Asking

0.01%

Average Days on Market

52

Average Home Size

1540 ft²

Average Home Age

77.8 years

Currently For Sale

26 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: 4 months ago
Data Source: MLS PIN, MLS# 72998930

Frequently Asked Questions

When was property at 59 Lancaster Street built and last sold?
The property at 59 Lancaster Street was built in 1942 and last sold on Oct 4, 2022 for $245,000.
How much is this home worth?
The estimated value of the home located at 59 Lancaster Street is $223,034.
What are some comparable homes to 59 Lancaster Street?
There are currently no comparable homes to 59 Lancaster Street.
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