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Lexington 02421 East Lexington
7 Ames Ave
$630,000
● House - Off Market

7 Ames Ave

Lexington, MA 02421
bedrooms
2 Beds
bathrooms
1 Bath
square feet
850 Ft²
$662,540
RealtyHop Estimate
6.01%
Since Mar 1, 2023
MA-Boston
Primary Model

About This Property

OFFER ACCEPTED.....ACCEPTING Back-Up offers only. Least expensive House or Lot  of land in LEXINGTON !!! Contractors/ Developers/ People willing to view a diamond in the rough. Great opportunity in a nice Neighborhood for a reasonable price. Property is solid but very dated. Property needs love and is being sold as is. Hot Water heater just failed and will not be replaced. Build sweat equity or tear down in Historic Registry (1 to 21 Month delay from application) and build new.  Roof good, updated siding.   EASY TO SHOW.
Unit Size
850 Ft²
Days on Market
-
Land Size
0.12 acres
Price per sqft
$735
Property Type
House
Property Taxes
$668
HOA Dues
-
Year Built
1900

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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 #73071440)

Price History

Date / Event Date Event Price
Feb 14, 2023 Sold
Premium
Sold
Jan 25, 2023 In contract -
In contract
Jan 19, 2023 Listed by RE/MAX Renaissance Inc. $625,000
Listed by RE/MAX Renaissance Inc.

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1900
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 15
  • Exterior Walls Type: 19
  • 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: 490
  • Garage Type: 7
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,400
  • Total Building Area: 850
  • Gross Building Area: 1,645
  • Building Area: 850
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 850
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000124
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Lexington School District
  • Census Tract: 358100

Zoning

  • Zoning: RS

Geography

  • Parcel: LEXI M:0014 L:00022B
  • Lot: 22B
  • Municipality: LEXINGTON
  • Latitude: 42.4231
  • Longitude: -71.2022

    Address

  • Full Address: 7 Ames Ave
  • Address - House Number: 7
  • Address - Street Name: Ames
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Lexington
  • Carrier Code: C008
  • 4-Digit Zip Code: 6201
  • Zip Code: 02421

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $833,300

    Appraisal Valuation

  • Standard Deviation: 0.1729
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 77
  • Final Value: 792,191
  • High Value: 929,206
  • Low Value: 655,176

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $641,000
  • Assessed Land Value: $517,000
  • Assessed Improvements Value: $124,000

    Sales

  • Current Sale Contract Date: Feb 13, 2023
  • Current Sale Recording Date: Feb 14, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 15834
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 Lexington

Stats & Trends

Median Asking:

$1,250,000

Sale Price/ft²

$564

Below Asking

0.02%

Average Days on Market

49

Average Home Size

3043 ft²

Average Home Age

48.8 years

Currently For Sale

4 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: 4 months ago
Data Source: MLS PIN, MLS# 73071440

Frequently Asked Questions

When was property at 7 Ames Avenue built and last sold?
The property at 7 Ames Avenue was built in 1900 and last sold on Feb 13, 2023 for $630,000.
How much is this home worth?
The estimated value of the home located at 7 Ames Avenue is $632,552.
What are some comparable homes to 7 Ames Avenue?
There are currently no comparable homes to 7 Ames Avenue.
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