7 Lexington Road
About This Property
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 21, 2021 | Sold | ||
| Sold | |||
| May 5, 2021 | Listed by LandVest, Inc., Concord | $1,885,000 | |
| Listed by LandVest, Inc., Concord | |||
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An exquisite historic treasure, the Thomas Pellet House 5-7-13-15 Lexington Road, ca. 1673, located in the heart of Concord overlooking Monument Square. The property offers 9 bedrooms, 4.5 baths, 6 fireplaces within its 4 independent units, each with private entrances & in-unit laundry. 3 courtyards. 2 off-street tandem parking. The impeccably-maintained main home, a 3-story, 4-bed features modern cherry cabinets, soapstone countertops, beamed soffits. Formal living and dining rooms with well-preserved period detail including a built-in china cabinet, bookcases, decorative trimmed paneling. Wide-plank pine floors throughout. The northeast addition originally built in the early 1900's offers two additional units: a large 2-bedroom dwelling and a studio. The northwest 2-story, 2-bedroom “dollhouse” offers additional rental income. This historic estate is a rarely available asset with value-add potential for a sophisticated investor portfolio or the passive income-oriented owner-occupant.
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| Dec 27, 2002 | Sold | ||
| Sold | |||
| Aug 12, 2002 | Listed by J M Barrett & Co., Inc. | $1,299,000 | |
| Listed by J M Barrett & Co., Inc. | |||
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THE THOMAS PELLET HOUSE CONSISTING OF FOUR APARTMENTS.OWNERS UNIT AS DETAILED ABOVE HAS NEW CHERRY AND SOAPSTONE KITCHEN WIDE BOARD FLOORS THROUGHOUT,APTS (#5,13 AND 15) ALL HAVE SEP. UTILITIES & GENERATE OVER $47,000/YR INCOME
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