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Essex
7 Lake Drive
$399,000
● House - Off Market

7 Lake Drive

Hamilton, MA 01982
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,376 Ft²
$653,401
RealtyHop Estimate
63.76%
Since Feb 1, 2017
MA-Boston
Primary Model

About This Property

This beautifully renovated 3 bedroom ranch is spacious and bright and in turnkey condition. The open concept  kitchen/family room is perfect for everyday living and informal entertaining.  It boasts lovely kitchen cabinets, granite counters,  stainless appliances, tile and hardwood floors, and a wood burning fireplace.  The attached garage is connected by a very functional mudroom and there is an attached enclosed porch which opens to the fenced in backyard and additional parking area.  The bedrooms have all hardwood floors with ample closet space.  The bathroom is beautifully updated with attractive tile and a double vanity.  Additionally, the full basement offers play space with  shelving, home office area and laundry facilities.  There is  another enclosed area for utilities, storage and work space.
Unit Size
1,376 Ft²
Days on Market
-
Land Size
0.19 acres
Price per sqft
$290
Property Type
House
Property Taxes
$479
HOA Dues
-
Year Built
1950

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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 #72090993)

Price History

Date / Event Date Event Price
Jan 5, 2017 Sold
Premium
Sold
Nov 8, 2016 Listed by Coldwell Banker Residential Brokerage - Manchester $399,000
Listed by Coldwell Banker Residential Brokerage - Manchester
Nov 1, 2013 Sold
Premium
Sold
Jul 31, 2013 Listed by Coldwell Banker Residential Brokerage - Manchester $345,900
Listed by Coldwell Banker Residential Brokerage - Manchester
Mar 27, 2013 Sold
Premium
Sold
Show More

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • 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: 7
  • Basement Area: 1,200
  • Garage Type: 7
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,485
  • Total Building Area: 1,376
  • Gross Building Area: 2,980
  • Building Area: 1,376
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,376
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: IDLEWOOD PK PLEASANT POND
  • Land Acres: 0000000195
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Hamilton-Wenham School District
  • Census Tract: 215102

Zoning

  • Zoning: R1A

Geography

  • Account Number: 2535
  • Parcel: HAMI M:54 B:92
  • Block: 92
  • Lot: 92
  • Municipality: HAMILTON
  • Latitude: 42.6149
  • Longitude: -70.8884

    Address

  • Full Address: 7 Lake Dr
  • Address - House Number: 7
  • Address - Street Name: Lake
  • Address - Suffix Type: Dr
  • State: MA
  • City Name: South Hamilton
  • Carrier Code: C005
  • 4-Digit Zip Code: 1622
  • Zip Code: 01982

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $818,400
  • Initial Tax Delinquent Year: 2021

    Appraisal Valuation

  • Standard Deviation: 0.1716
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 78
  • Final Value: 635,212
  • High Value: 744,368
  • Low Value: 526,057

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $541,600
  • Assessed Land Value: $206,100
  • Assessed Improvements Value: $335,500

    Sales

  • Current Sale Recording Date: Jan 05, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 395
  • Previous Sale Recording Date: Nov 01, 2013
  • Previous Sale Amount: $332,000
  • Previous Sale Document Type: O
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 Essex

Stats & Trends

Median Asking:

$699,900

Sale Price/ft²

$384

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2523 ft²

Average Home Age

72.3 years

Currently For Sale

1497 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

Click here to view more rentals in the neighborhood.
Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 72090993

Frequently Asked Questions

When was property at 7 Lake Drive built and last sold?
The property at 7 Lake Drive was built in 1950 and last sold on Jan 1, 1970 for $399,000.
How much is this home worth?
The estimated value of the home located at 7 Lake Drive is $407,452.
What are some comparable homes to 7 Lake Drive?
There are currently no comparable homes to 7 Lake Drive.
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