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Beverly 01915
7 Colonial Road
$580,000
● House - Off Market

7 Colonial Road

Beverly, MA 01915
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,596 Ft²
$550,906
RealtyHop Estimate
13.59%
Since Oct 1, 2021
MA-Boston
Primary Model

About This Property

Hidden gem in North Beverly! Tucked away on Colonial Road, sits this expansive and flexible 3-4 bedroom Cape that has been proudly owned by the same family since 1964. Offering great bones and a useable floor plan, this charmer is ready for your personal updates and flair and offers so much potential. The main level has matching formal living and dining rooms flanking the main entry, a full bath with an adjacent bedroom-home office-den, and the eat-in kitchen. Off the kitchen is a generous 3-season room that flows out the driveway as well as to the awesome backyard. Upstairs is a spacious primary bedroom with dual closets, 2 similar-sized bedrooms, and a full bath. The basement affords finishing potential with great headroom and a fireplace. Build easy equity in this sweet property.  Offers due Tuesday 7/27 @noon.
Unit Size
1,596 Ft²
Days on Market
-
Land Size
0.26 acres
Price per sqft
$304
Property Type
House
Property Taxes
$470
HOA Dues
-
Year Built
1960

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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 years ago (MLSPIN #72869234)

Price History

Date / Event Date Event Price
Sep 3, 2021 Sold
Premium
Sold
Jul 21, 2021 Listed by Leading Edge Real Estate $485,000
Listed by Leading Edge Real Estate

Property Highlights

Air Conditioning
Parking Available

Building Info

Overview

    General

  • Year Built: 1960
  • Effective Year Built: 1960
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 4
  • 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: 912
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,330
  • Total Building Area: 1,596
  • Gross Building Area: 2,910
  • Building Area: 1,596
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,596
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000260
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Beverly School District
  • School Tax School District: BEVERLY SD
  • Census Tract: 217101

Zoning

  • Zoning: R10

Geography

  • Account Number: R10
  • Parcel: BEVE M:0068 B:0118 L:
  • Block: 118
  • Municipality: BEVERLY
  • Latitude: 42.5768
  • Longitude: -70.8783

    Address

  • Full Address: 7 Colonial Rd
  • Address - House Number: 7
  • Address - Street Name: Colonial
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Beverly
  • Carrier Code: C014
  • 4-Digit Zip Code: 1815
  • Zip Code: 01915

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $634,000
  • Initial Tax Delinquent Year: 2006

    Appraisal Valuation

  • Standard Deviation: 0.1693
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 78
  • Final Value: 673,051
  • High Value: 787,000
  • Low Value: 559,102

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $564,600
  • Assessed Land Value: $334,800
  • Assessed Improvements Value: $229,800

    Sales

  • Current Sale Contract Date: Sep 03, 2021
  • Current Sale Recording Date: Sep 03, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 35
  • Current Sale Input Document Number: 20210903003500
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 Beverly

Stats & Trends

Median Asking:

$749,000

Sale Price/ft²

$452

Below Asking

0.01%

Average Days on Market

49

Average Home Size

2924 ft²

Average Home Age

88.2 years

Currently For Sale

55 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: 5 years ago
Data Source: MLS PIN, MLS# 72869234

Frequently Asked Questions

When was property at 7 Colonial Road built and last sold?
The property at 7 Colonial Road was built in 1960 and last sold on Sep 3, 2021 for $580,000.
How much is this home worth?
The estimated value of the home located at 7 Colonial Road is $0.
What are some comparable homes to 7 Colonial Road?
There are currently no comparable homes to 7 Colonial Road.
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