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Melrose 02176 Downtown Melrose
61 Leonard Road
$580,000
● House - Off Market

61 Leonard Road

Melrose, MA 02176
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,128 Ft²
$508,767
RealtyHop Estimate
1.77%
Since May 1, 2023
MA-Boston
Primary Model

About This Property

Perfect starter home one block away from vibrant Downtown Melrose-fine restaurants,YMCA, bus to Oak Grove and a great variety of shopping options!!! Enclosed wraparound front porch, colored glass window in foyer, hardwood maple and oak flooring, crown moulding, hall closet is cedar lined!! Roof shingles and garage are older.Full basement, nice rear yard, great neighborhood!!!! Bring your ideas and make this home your own!!!!  Washer, Dryer and Refrigerator left as gifts.
Unit Size
1,128 Ft²
Days on Market
-
Land Size
0.09 acres
Price per sqft
$443
Property Type
House
Property Taxes
$474
HOA Dues
-
Year Built
1908

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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 #73088376)

Price History

Date / Event Date Event Price
Apr 7, 2023 Sold
Premium
Sold
Mar 21, 2023 In contract -
In contract
Mar 16, 2023 Listed by Century 21 Tradition $499,900
Listed by Century 21 Tradition

Property Highlights

Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 1908
  • Effective Year Built: 1908
  • 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: 6
  • Building Style: 16
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 643
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,838
  • Total Building Area: 1,128
  • Gross Building Area: 2,174
  • Building Area: 1,128
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,128
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000088
  • 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: 336300

Zoning

  • Zoning: URB

Geography

  • Parcel: MELR M:0D7 P:0000053
  • Municipality: MELROSE
  • Latitude: 42.4544
  • Longitude: -71.0625

    Address

  • Full Address: 61 Leonard Rd
  • Address - House Number: 61
  • Address - Street Name: Leonard
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Melrose
  • Carrier Code: C039
  • 4-Digit Zip Code: 3914
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $580,500

    Appraisal Valuation

  • Standard Deviation: 0.1778
  • Valuation Date: Feb 07, 2024
  • Confidence Score: 77
  • Final Value: 655,788
  • High Value: 772,405
  • Low Value: 539,170

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $584,600
  • Assessed Land Value: $386,400
  • Assessed Improvements Value: $198,200

    Sales

  • Current Sale Contract Date: Apr 04, 2023
  • Current Sale Recording Date: Apr 07, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 35087
  • Previous Sale Recording Date: Aug 29, 2017
  • 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 Downtown Melrose

Stats & Trends

Median Asking:

$669,900

Sale Price/ft²

$490

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1768 ft²

Average Home Age

127.8 years

Currently For Sale

6 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

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 73088376

Frequently Asked Questions

When was property at 61 Leonard Road built and last sold?
The property at 61 Leonard Road was built in 1908 and last sold on Apr 4, 2023 for $580,000.
How much is this home worth?
The estimated value of the home located at 61 Leonard Road is $511,960.
What are some comparable homes to 61 Leonard Road?
There are currently no comparable homes to 61 Leonard Road.
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