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Melrose 02176 Oak Grove - Pine Banks
60 Converse Lane
$790,000
● House - Off Market

60 Converse Lane

Melrose, MA 02176
bedrooms
5 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,621 Ft²
$1,036,080
RealtyHop Estimate
48.03%
Since Sep 1, 2018
MA-Boston
Primary Model

About This Property

This oversized split with an amazing location has so much to offer! Gorgeous hardwood floors throughout the property, Open floor plan main level, first floor family room, 5 great size bedrooms, 2 full and a 1/2 bath off the master bedroom and space for the entire family in the lower level. Central Air, newer windows, cast iron baseboard. This house is set up for extended family to live. Full walk out to the 10,000 square foot fantastic backyard, 2 sheds, and a large mahogany deck and lower level covered patio. Location is perfect!! Walk to the train, shops, restaurants and downtown Melrose. This home will not last!! Open house Friday night 5:00-6:30pm and Sunday 11:00am-12:30pm!! Showings begin Friday at 1:00pm.
Unit Size
2,621 Ft²
Days on Market
-
Land Size
0.23 acres
Price per sqft
$267
Property Type
House
Property Taxes
$500
HOA Dues
-
Year Built
1970

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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 #72339640)

Price History

Date / Event Date Event Price
Aug 15, 2018 Sold
Premium
Sold
Jun 5, 2018 Listed by Century 21 Sexton & Donohue $699,900
Listed by Century 21 Sexton & Donohue
Dec 1, 1998 Sold
Premium
Sold
Mar 19, 1998 Listed by Century 21 Sexton & Donohue $265,000
Listed by Century 21 Sexton & Donohue

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1970
  • Effective Year Built: 1970
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 5
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 42
  • Exterior Walls Type: 19
  • 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: 1,300
  • Garage Type: 17
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,958
  • Total Building Area: 2,621
  • Gross Building Area: 3,878
  • Building Area: 2,621
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 2,621
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000229
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Melrose School District
  • School Tax School District: MELROSE SD
  • Census Tract: 336403

Zoning

  • Zoning: URA

Geography

  • Parcel: MELR M:0B4 P:0000002
  • Municipality: MELROSE
  • Latitude: 42.4461
  • Longitude: -71.0741

    Address

  • Full Address: 60 Converse Ln
  • Address - House Number: 60
  • Address - Street Name: Converse
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Melrose
  • Carrier Code: C034
  • 4-Digit Zip Code: 5120
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $867,500
  • Initial Tax Delinquent Year: 2022

    Appraisal Valuation

  • Standard Deviation: 0.2191
  • Valuation Date: Feb 07, 2024
  • Confidence Score: 69
  • Final Value: 1,132,161
  • High Value: 1,380,328
  • Low Value: 883,993

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $873,600
  • Assessed Land Value: $435,900
  • Assessed Improvements Value: $437,700

    Sales

  • Current Sale Recording Date: Aug 15, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 1794907
  • Previous Sale Recording Date: Dec 01, 1998
  • Previous Sale Amount: $264,000
  • Previous Sale Document Type: 48
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 Oak Grove - Pine Banks

Stats & Trends

Median Asking:

$859,900

Sale Price/ft²

$444

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1755 ft²

Average Home Age

64.4 years

Currently For Sale

5 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

Unit for rent at 195 Pleasant St, MA, 02148

$1,670 /mo

  • 1 Bed
  • 1 Bath
195 Pleasant St, MA, 02148 Listing by Rick Rivera
Unit for rent at 75 Pleasant St, Stoneham, 02180

$1,500 /mo

  • Studio
  • 1 Bath
75 Pleasant St, Stoneham, 02180 Listing by Inbound Real Estate

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72339640

Frequently Asked Questions

When was property at 60 Converse Lane built and last sold?
The property at 60 Converse Lane was built in 1970 and last sold on Jan 1, 1970 for $790,000.
How much is this home worth?
The estimated value of the home located at 60 Converse Lane is $706,046.
What are some comparable homes to 60 Converse Lane?
There are currently no comparable homes to 60 Converse Lane.
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