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Franklin Town 02038
7 Mercer Ln
$820,000
● House - Off Market

7 Mercer Ln

Franklin, MA 02038
bedrooms
4 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
3,324 Ft²
$832,918
RealtyHop Estimate
4.64%
Since Nov 1, 2022
National-US
Primary Model

About This Property

Customized colonial 2-story-house situated at a highly desired neighborhood.  Outstanding first floor that features high-ceiling foyer, a grand room (with a fireplace and wet bar) open to a spacious kitchen with a breakfast area. Access to a large deck and spa room. Living room/dining room combo with custom window treatment and hardwood floors. Second floor has 4 bedrooms and 2 full baths, jacuzzi tub, walk-in closet as well as fireplace in the primary bedroom. Spacious and high-ceiling basement can be finished to add more space. Less than 10 minutes to the commuter rail, local charter school.  Easy access to highways and shopping areas.
Unit Size
3,324 Ft²
Days on Market
-
Land Size
0.92 acres
Price per sqft
$239
Property Type
House
Property Taxes
$852
HOA Dues
-
Year Built
1992

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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 #73030627)

Price History

Date / Event Date Event Price
Oct 7, 2022 Sold
Premium
Sold
Sep 27, 2022 In contract -
In contract
Sep 27, 2022 Relisted $796,000
Relisted
Sep 16, 2022 In contract -
In contract
Sep 5, 2022 Listed by Engel & Volkers Wellesley $796,000
Listed by Engel & Volkers Wellesley
Show More

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1992
  • Effective Year Built: 1992
  • Building Count: 1
  • Total Rooms: 9
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • 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: 7
  • Basement Area: 1,894
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 40,023
  • Total Building Area: 3,228
  • Gross Building Area: 5,671
  • Building Area: 3,228
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 3,228
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FRANKLIN
  • Land Acres: 0000000919
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Franklin School District
  • Census Tract: 442201

Geography

  • Account Number: 7-015-09
  • Parcel: FRAN M:337 L:020
  • Lot: 20
  • Municipality: FRANKLIN
  • Latitude: 42.0454
  • Longitude: -71.4364

    Address

  • Full Address: 7 Mercer Ln
  • Address - House Number: 7
  • Address - Street Name: Mercer
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Franklin
  • Carrier Code: R006
  • 4-Digit Zip Code: 3334
  • Zip Code: 02038

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,073,200

    Appraisal Valuation

  • Standard Deviation: 0.1721
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 77
  • Final Value: 969,727
  • High Value: 1,136,622
  • Low Value: 802,831

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $910,300
  • Assessed Land Value: $366,000
  • Assessed Improvements Value: $544,300

    Sales

  • Current Sale Contract Date: Oct 07, 2022
  • Current Sale Recording Date: Oct 07, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 87751
  • Previous Sale Recording Date: Nov 25, 2009
  • Previous Sale Amount: $475,000
  • Previous Sale Document Type: 27

    Financing

  • First Mortgage Financing Type: ADJ
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 Franklin Town

Stats & Trends

Median Asking:

$699,000

Sale Price/ft²

$336

Below Asking

0.01%

Average Days on Market

52

Average Home Size

2076 ft²

Average Home Age

52.3 years

Currently For Sale

47 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: 4 months ago
Data Source: MLS PIN, MLS# 73030627

Frequently Asked Questions

When was property at 7 Mercer Lane built and last sold?
The property at 7 Mercer Lane was built in 1992 and last sold on Oct 7, 2022 for $820,000.
How much is this home worth?
The estimated value of the home located at 7 Mercer Lane is $803,596.
What are some comparable homes to 7 Mercer Lane?
There are currently no comparable homes to 7 Mercer Lane.
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