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Wakefield 01880
8 Melrose Terrace
$365,000
● House - Off Market

8 Melrose Terrace

Wakefield, MA 01880
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,317 Ft²
$616,167
RealtyHop Estimate
73.62%
Since Sep 1, 2015
MA-Boston
Primary Model

About This Property

OPEN HOUSE Sunday- June 14th -12:00pm -1:30pm ~ Don't miss this CHARMING 3 BEDROOM QUEEN ANNE CAPE Located in the Beautiful Greenwood Area of Wakefield! This Home offers convenience to the Commuter Train, Bus Service and Shopping.  Features include Beautiful Woodwork and Hardwood Floors, Living Room with Center Fireplace and Eat in Kitchen with Sliders to Deck and Level Back Yard.~ Large Enclosed Porch is perfect for relaxing in Summer Evenings.~ Newer tilt in windows. ~ Play Room in basement, plus a partially finished 2nd bath.
Unit Size
1,317 Ft²
Days on Market
-
Land Size
0.10 acres
Price per sqft
$269
Property Type
House
Property Taxes
$300
HOA Dues
-
Year Built
1900

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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 #71846627)

Price History

Date / Event Date Event Price
Aug 18, 2015 Sold
Premium
Sold
May 28, 2015 Listed by Century 21 Commonwealth $354,900
Listed by Century 21 Commonwealth
Mar 22, 1991 Sold
Premium
Sold

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1952
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • 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: 676
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,522
  • Total Building Area: 1,553
  • Gross Building Area: 2,506
  • Building Area: 1,553
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,553
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000104
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Wakefield School District
  • Census Tract: 335400

Zoning

  • Zoning: SR

Geography

  • Account Number: 46893
  • District: 305
  • Parcel: WAKE M:000024 B:0243 P:0000T8
  • Block: 243
  • Municipality: WAKEFIELD
  • Latitude: 42.4798
  • Longitude: -71.065

    Address

  • Full Address: 8 Melrose Ter
  • Address - House Number: 8
  • Address - Street Name: Melrose
  • Address - Suffix Type: Ter
  • State: MA
  • City Name: Wakefield
  • Carrier Code: C014
  • 4-Digit Zip Code: 4023
  • Zip Code: 01880

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $605,500

    Appraisal Valuation

  • Standard Deviation: 0.1861
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 75
  • Final Value: 650,792
  • High Value: 771,911
  • Low Value: 529,674

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $538,200
  • Assessed Land Value: $292,700
  • Assessed Improvements Value: $245,500

    Sales

  • Current Sale Recording Date: Aug 18, 2015
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 138653
  • Previous Sale Recording Date: Mar 22, 1991
  • Previous Sale Amount: $169,500
  • 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 Wakefield

Stats & Trends

Median Asking:

$785,000

Sale Price/ft²

$449

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1985 ft²

Average Home Age

71.4 years

Currently For Sale

48 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

Unit for rent at 75 Pleasant St, Stoneham, 02180

$1,500 /mo

  • Studio
  • 1 Bath
75 Pleasant St, Stoneham, 02180 Listing by Inbound Real Estate

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 71846627

Frequently Asked Questions

When was property at 8 Melrose Terrace built and last sold?
The property at 8 Melrose Terrace was built in 1900 and last sold on Jan 1, 1970 for $365,000.
How much is this home worth?
The estimated value of the home located at 8 Melrose Terrace is $374,096.
What are some comparable homes to 8 Melrose Terrace?
There are currently no comparable homes to 8 Melrose Terrace.
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