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Swampscott 01907
8 Banks Rd
$530,000
● House - Off Market

8 Banks Rd

Swampscott, MA 01907
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,420 Ft²
$933,266
RealtyHop Estimate
63.76%
Since Feb 1, 2017
MA-Boston
Primary Model

About This Property

Three generations of living in this classic turn of the last century. Gracious 4 bedrooms with lots of space on its three floors of living. Make a teen suite on the third floor. Sliders open to expansive deck overlooking the in ground pool. Detached garage and mature tall arborvitaes surround back yard. Roof,  heating, Harvey windows and painting in the past five years.  Sought after Olmstead District neighborhood and a short walk downtown area shops and restaurants.
Unit Size
2,420 Ft²
Days on Market
-
Land Size
0.17 acres
Price per sqft
$236
Property Type
House
Property Taxes
$611
HOA Dues
-
Year Built
1913

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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: 5 months ago (MLSPIN #72062226)

Price History

Date / Event Date Event Price
Feb 3, 2017 Sold
Premium
Sold
Sep 6, 2016 Listed by Bancroft Realty Group $569,900
Listed by Bancroft Realty Group

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1913
  • Effective Year Built: 1913
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 10
  • Roof Cover Type: 15
  • Floor Count: 300
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 845
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,536
  • Total Building Area: 2,420
  • Gross Building Area: 4,330
  • Building Area: 2,420
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,420
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000173
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Swampscott School District
  • School Tax School District: SWAMPSCOTT SD
  • Census Tract: 202101

Zoning

  • Zoning: A-2

Geography

  • Parcel: SWAM M:0016 B:0002 L:0
  • Block: 2
  • Municipality: SWAMPSCOTT
  • Latitude: 42.4747
  • Longitude: -70.9145

    Address

  • Full Address: 8 Banks Rd
  • Address - House Number: 8
  • Address - Street Name: Banks
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Swampscott
  • Carrier Code: C012
  • 4-Digit Zip Code: 2028
  • Zip Code: 01907

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $883,900

    Appraisal Valuation

  • Standard Deviation: 0.1701
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 78
  • Final Value: 872,367
  • High Value: 1,020,836
  • Low Value: 723,899

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $752,900
  • Assessed Land Value: $319,700
  • Assessed Improvements Value: $433,200

    Sales

  • Current Sale Recording Date: Feb 03, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 107
  • Previous Sale Recording Date: Jan 23, 2017
  • Previous Sale Amount: $530,000
  • 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 Swampscott

Stats & Trends

Median Asking:

$762,500

Sale Price/ft²

$436

Below Asking

0.02%

Average Days on Market

59

Average Home Size

3062 ft²

Average Home Age

84.2 years

Currently For Sale

45 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: 5 months ago
Data Source: MLS PIN, MLS# 72062226

Frequently Asked Questions

When was property at 8 Banks Road built and last sold?
The property at 8 Banks Road was built in 1913 and last sold on Jan 1, 1970 for $530,000.
How much is this home worth?
The estimated value of the home located at 8 Banks Road is $595,939.
What are some comparable homes to 8 Banks Road?
There are currently no comparable homes to 8 Banks Road.
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