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Nahant 01908
62 Colby Way
$525,000
● House - Off Market

62 Colby Way

Nahant, MA 01908
bedrooms
2 Beds
bathrooms
2 Baths
square feet
1,039 Ft²
$719,014
RealtyHop Estimate
30.75%
Since Oct 1, 2020
MA-Boston
Primary Model

About This Property

INTERESTED IN AN URBAN ALTERNATIVE? - Open public parks - fresh air - steps to the Atlantic ocean - extensive renovation of a 1920 home by architect Mariana Vaida - a 'foodies' kitchen open to the living and dining areas - water views - steps to the beach - golf.   All new electrical wiring, plumbing, VRF Mitsubishi split system with three heating/cooling units each on its independent zone, new gas fired on demand hot water, new appliances, new windows, icynene foam insulation in all exterior walls, new kitchen and 2 full baths - master bedroom with large walk-in closet.  Parking and a yard for perennials and raised beds to grow herbs and vegetables in the summer - steps to Baily's Point and beach  A great coastal lifestyle awaits!
Unit Size
1,039 Ft²
Days on Market
-
Land Size
0.08 acres
Price per sqft
$529
Property Type
House
Property Taxes
$432
HOA Dues
-
Year Built
1920

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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 #72625364)

Price History

Date / Event Date Event Price
Sep 17, 2020 Sold
Premium
Sold
Feb 27, 2020 Listed by William Raveis R.E. & Home Services $549,900
Listed by William Raveis R.E. & Home Services
Apr 23, 2018 Sold
Premium
Sold
Jan 10, 2018 Listed by William Raveis R.E. & Home Services $330,000
Listed by William Raveis R.E. & Home Services

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1920
  • Building Count: 1
  • Total Rooms: 4
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 3
  • 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: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,376
  • Total Building Area: 1,039
  • Gross Building Area: 1,613
  • Building Area: 1,039
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,039
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000078
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Swampscott School District in Nahant (7-12)
  • School Tax School District: NAHANT SD
  • Census Tract: 201100

Zoning

  • Zoning: R2

Geography

  • Parcel: NAHA M:0018 B:0000 L:0016
  • Lot: 16
  • Municipality: NAHANT
  • Latitude: 42.4192
  • Longitude: -70.9314

    Address

  • Full Address: 62 Colby Way
  • Address - House Number: 62
  • Address - Street Name: Colby
  • Address - Suffix Type: Way
  • State: MA
  • City Name: Nahant
  • Carrier Code: C004
  • 4-Digit Zip Code: 1510
  • Zip Code: 01908

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $514,500

    Appraisal Valuation

  • Standard Deviation: 0.1615
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 79
  • Final Value: 733,009
  • High Value: 851,411
  • Low Value: 614,608

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $566,000
  • Assessed Land Value: $280,400
  • Assessed Improvements Value: $285,600

    Sales

  • Current Sale Contract Date: Sep 10, 2020
  • Current Sale Recording Date: Sep 17, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200917003360
  • Previous Sale Recording Date: Apr 23, 2018
  • Previous Sale Amount: $310,000
  • 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 Nahant

Stats & Trends

Median Asking:

$950,000

Sale Price/ft²

$574

Below Asking

0.01%

Average Days on Market

59

Average Home Size

3820 ft²

Average Home Age

104.5 years

Currently For Sale

14 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: 5 months ago
Data Source: MLS PIN, MLS# 72625364

Frequently Asked Questions

When was property at 62 Colby Way built and last sold?
The property at 62 Colby Way was built in 1920 and last sold on Sep 10, 2020 for $525,000.
How much is this home worth?
The estimated value of the home located at 62 Colby Way is $550,275.
What are some comparable homes to 62 Colby Way?
There are currently no comparable homes to 62 Colby Way.
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