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Franklin Town 02038
7 Richard Ln
$575,000
● House - Off Market

7 Richard Ln

Franklin, MA 02038
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,591 Ft²
$534,821
RealtyHop Estimate
3.05%
Since Apr 1, 2023
National-US
Primary Model

About This Property

This is the one you've been waiting for! This Gambrel Cape is located in a desirable neighborhood across from Kennedy Elementary School. All you have to do is move right in. Freshly painted throughout, new carpet, updated bathrooms, new driveway, and the roof is only 4 years old. Recessed lighting in the kitchen and living room. The spacious front-to-back main bedroom upstairs offers 2 closets and lots of natural light. Two more bedrooms and a full bath upstairs. There's also a bedroom on the first floor which could be used as an office, playroom, den, or bedroom. Conveniently located 2.3 miles from Franklin Village Plaza & I-495 and 2.6 miles to Forge Park MBTA Station. Welcome home! Showings begin on Friday, Jan 27th. Open House Saturday, Jan 28th 12-2pm. Offer deadline is Monday at noon.
Unit Size
1,591 Ft²
Days on Market
-
Land Size
0.54 acres
Price per sqft
$326
Property Type
House
Property Taxes
$480
HOA Dues
-
Year Built
1984

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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 #73073735)

Price History

Date / Event Date Event Price
Mar 2, 2023 Sold
Premium
Sold
Jan 31, 2023 In contract -
In contract
Jan 26, 2023 Listed by Suburban Lifestyle Real Estate $519,000
Listed by Suburban Lifestyle Real Estate
Jul 17, 1984 Sold
Premium
Sold

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1984
  • Effective Year Built: 1984
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 10
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 816
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 23,562
  • Total Building Area: 1,591
  • Gross Building Area: 2,592
  • Building Area: 1,591
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,591
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000541
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Franklin School District
  • Census Tract: 442104

Geography

  • Account Number: 107-026
  • Parcel: FRAN M:240 L:080
  • Lot: 80
  • Municipality: FRANKLIN
  • Latitude: 42.1095
  • Longitude: -71.4322

    Address

  • Full Address: 7 Richard Ln
  • Address - House Number: 7
  • Address - Street Name: Richard
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Franklin
  • Carrier Code: C013
  • 4-Digit Zip Code: 2824
  • Zip Code: 02038

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $647,400

    Appraisal Valuation

  • Standard Deviation: 0.211
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 71
  • Final Value: 612,717
  • High Value: 742,009
  • Low Value: 483,425

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $549,100
  • Assessed Land Value: $244,600
  • Assessed Improvements Value: $304,500

    Sales

  • Current Sale Contract Date: Mar 02, 2023
  • Current Sale Recording Date: Mar 02, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 12195
  • Previous Sale Recording Date: Jul 17, 1984
  • Previous Sale Amount: $92,400
  • Previous Sale Document Type: 27
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

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 73073735

Frequently Asked Questions

When was property at 7 Richard Lane built and last sold?
The property at 7 Richard Lane was built in 1984 and last sold on Mar 2, 2023 for $575,000.
How much is this home worth?
The estimated value of the home located at 7 Richard Lane is $528,521.
What are some comparable homes to 7 Richard Lane?
There are currently no comparable homes to 7 Richard Lane.
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