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Worcester
704 Main St
$240,000
● Land - Off Market

704 Main St

Leicester, MA 01611
bedrooms
Studio
bathrooms
0 Bath
$319,384
RealtyHop Estimate
10.17%
Since Jan 1, 2022
National-US
Primary Model

About This Property

Buy now and be prepared for Spring construction! Business zoning allows for many uses. This prime location boasts over 400 feet of frontage on Route 9. Short drive to major routes: Mass Pike, 290, 395, and 20. Looking for investment property? Approved residential subdivision for three separate lots of 6 condos (3 duplexes) with engineer-stamped plot plan. Site work already done includes 6 public water taps, 4 sewer stubs, plus 3 curb cuts. All engineering completed and approved by town. The property receives water through the Leicester Water District. Buyer and buyer's agent to do due diligence. Listing agent related to seller
Unit Size
-
Days on Market
-
Land Size
1.71 acres
Price per sqft
-
Property Type
Land
Property Taxes
$72
HOA Dues
-
Year Built
2022

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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 #72917425)

Price History

Date / Event Date Event Price
Dec 9, 2021 Sold
Premium
Sold
Nov 7, 2021 Listed by P & H Property Consulting, Inc. $289,900
Listed by P & H Property Consulting, Inc.
Oct 30, 2020 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Year Built: 2022
  • Effective Year Built: 2022
  • Building Count: 1
  • Total Rooms: 12
  • Bedroom Count: 6
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 16
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 2
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,136
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 24,949
  • Total Building Area: 2,832
  • Gross Building Area: 4,880
  • Building Area: 2,832
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 2,832
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000573
  • Standard Land Use Code: 1101
  • County Land Use Code: 104

Neighborhood

  • School District Name: Leicester School District
  • School Tax School District: LEICESTER SD
  • Census Tract: 735200

Geography

  • Parcel: LEIC M:21B B:000A8.1 L:0
  • Block: A8.1
  • Municipality: LEICESTER
  • Latitude: 42.2442
  • Longitude: -71.8912

    Address

  • Full Address: 704 Main St
  • Address - House Number: 704
  • Address - Street Name: Main
  • Address - Suffix Type: St
  • State: MA
  • City Name: Cherry Valley
  • Carrier Code: C001
  • 4-Digit Zip Code: 3001
  • Zip Code: 01611

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $430,700

    Appraisal Valuation

  • Standard Deviation: 0.1325
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 84
  • Final Value: 455,713
  • High Value: 516,097
  • Low Value: 395,329

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $334,900
  • Assessed Land Value: $58,800
  • Assessed Improvements Value: $276,100

    Sales

  • Current Sale Contract Date: Dec 06, 2021
  • Current Sale Recording Date: Dec 09, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 172161
  • Previous Sale Recording Date: Oct 30, 2020
  • Previous Sale Contract Date: Oct 26, 2020
  • Previous Sale Amount: $295,000
  • 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 Worcester

Stats & Trends

Median Asking:

$499,900

Sale Price/ft²

$281

Below Asking

0.02%

Average Days on Market

57

Average Home Size

2408 ft²

Average Home Age

62.6 years

Currently For Sale

1996 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

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72917425

Frequently Asked Questions

When was property at 704 Main Street built and last sold?
The property at 704 Main Street was built in 2022 and last sold on Dec 6, 2021 for $240,000.
How much is this home worth?
The estimated value of the home located at 704 Main Street is $292,799.
What are some comparable homes to 704 Main Street?
There are currently no comparable homes to 704 Main Street.
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