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Lynn 01902
7 Norcross Ter
$235,000
● House - Off Market

7 Norcross Ter

Lynn, MA 01902
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,084 Ft²
$379,612
RealtyHop Estimate
38.09%
Since Jun 1, 2020
MA-Boston
Primary Model

About This Property

Well cared for and very affordable Cape close to the beach and transportation. Newer kitchen, replacement windows, new doors, newer roof, new high efficiency heating system makes this cute home easy to maintain. 12 Miles to Boston and convenient to all North Shore beaches and locations. WHY RENT WHEN YOU CAN OWN THIS FOR LESS!!!
Unit Size
1,084 Ft²
Days on Market
-
Land Size
0.05 acres
Price per sqft
$254
Property Type
House
Property Taxes
$278
HOA Dues
-
Year Built
1880

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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 #72631671)

Price History

Date / Event Date Event Price
May 5, 2020 Sold
Premium
Sold
Mar 11, 2020 Listed by Moore-Tuttle & Company $274,900
Listed by Moore-Tuttle & Company
Sep 2, 2014 Sold
Premium
Sold
Jul 5, 2014 Listed by Moore-Tuttle & Company $159,900
Listed by Moore-Tuttle & Company

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1880
  • Effective Year Built: 1963
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 2
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 1
  • 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: 496
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 2,030
  • Total Building Area: 1,084
  • Gross Building Area: 1,680
  • Building Area: 1,084
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,084
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: JD & DE SMITH
  • Land Acres: 0000000047
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Lynn School District
  • School Tax School District: LYNN SD
  • Census Tract: 206600

Zoning

  • Zoning: R1

Geography

  • Parcel: LYNN M:093 B:559 L:033
  • Block: 559
  • Lot: 33
  • Municipality: LYNN
  • Latitude: 42.466
  • Longitude: -70.9284

    Address

  • Full Address: 7 Norcross Ter
  • Address - House Number: 7
  • Address - Street Name: Norcross
  • Address - Suffix Type: Ter
  • State: MA
  • City Name: Lynn
  • Carrier Code: C033
  • 4-Digit Zip Code: 2512
  • Zip Code: 01902

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $348,800

    Appraisal Valuation

  • Standard Deviation: 0.2545
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 64
  • Final Value: 404,244
  • High Value: 507,025
  • Low Value: 301,464

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $331,200
  • Assessed Land Value: $159,000
  • Assessed Improvements Value: $172,200

    Sales

  • Current Sale Contract Date: Apr 22, 2020
  • Current Sale Recording Date: May 05, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200505003550
  • Previous Sale Recording Date: Sep 02, 2014
  • Previous Sale Amount: $155,000
  • 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 Lynn

Stats & Trends

Median Asking:

$598,000

Sale Price/ft²

$374

Below Asking

0.01%

Average Days on Market

59

Average Home Size

2704 ft²

Average Home Age

97.1 years

Currently For Sale

156 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

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72631671

Frequently Asked Questions

When was property at 7 Norcross Terrace built and last sold?
The property at 7 Norcross Terrace was built in 1880 and last sold on Apr 22, 2020 for $235,000.
How much is this home worth?
The estimated value of the home located at 7 Norcross Terrace is $278,752.
What are some comparable homes to 7 Norcross Terrace?
There are currently no comparable homes to 7 Norcross Terrace.
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