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Danvers 01923
8 Merrill Street
$517,000
● House - Off Market

8 Merrill Street

Danvers, MA 01923
bedrooms
2 Beds
bathrooms
2 Baths
square feet
1,332 Ft²
$2,944
Est. Monthly

About This Property

Open space and sunshine welcome you as soon as you enter this cute home!  Some nice upgraded features for you include; Well appointed Kitchen, with ceramic farmers sink, s/s appliances, wood floors, vinyl siding, roof, windows, (furnace, water heater-2018) and driveway. Good size fenced in backyard for your animal friends and stone patio for your outdoor furniture and cookouts. This is a 2 bedroom home, both upstairs and a 2 full bath home, one on each level.  One is older style tiles, very clean and other is remodeled upstairs. Some finish carpentry work that could be done in bath. There is a bonus mudroom for you, needs extensive work but will be a great addition to this lovely home! Location is wonderful, on a side street, near downtown, easy highway access, close to Portside Marina & John George Park!
Unit Size
1,332 Ft²
Days on Market
-
Land Size
0.10 acres
Price per sqft
$383
Property Type
House
Property Taxes
$439
HOA Dues
-
Year Built
1885

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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 #73183370)

Price History

Date / Event Date Event Price
Jan 12, 2024 Sold
Premium
Sold
Dec 5, 2023 In contract -
In contract
Nov 28, 2023 Listed by J. Barrett & Company $510,000
Listed by J. Barrett & Company
Jul 17, 1998 Sold
Premium
Sold
Mar 4, 1998 Listed by J. Barrett & Company $109,000
Listed by J. Barrett & Company

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1885
  • Effective Year Built: 1885
  • Building Count: 1
  • Total Rooms: 4
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • 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: 666
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,173
  • Total Building Area: 1,332
  • Gross Building Area: 1,954
  • Building Area: 1,332
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,332
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000096
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Danvers School District
  • School Tax School District: DANVERS SD
  • Census Tract: 211100

Zoning

  • Zoning: R1

Geography

  • Parcel: DANV M:059 L:031 P:
  • Lot: 31
  • Municipality: DANVERS
  • Latitude: 42.5567
  • Longitude: -70.9278

    Address

  • Full Address: 8 Merrill St
  • Address - House Number: 8
  • Address - Street Name: Merrill
  • Address - Suffix Type: St
  • State: MA
  • City Name: Danvers
  • Carrier Code: C018
  • 4-Digit Zip Code: 3117
  • Zip Code: 01923

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $535,900

    Appraisal Valuation

  • Standard Deviation: 0.0799
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 94
  • Final Value: 522,589
  • High Value: 564,547
  • Low Value: 480,632

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $482,400
  • Assessed Land Value: $294,800
  • Assessed Improvements Value: $187,600

    Sales

  • Current Sale Contract Date: Jan 12, 2024
  • Current Sale Recording Date: Jan 12, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20240112001280
  • Previous Sale Recording Date: Jul 17, 1998
  • Previous Sale Amount: $95,000
  • 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 Danvers

Stats & Trends

Median Asking:

$699,900

Sale Price/ft²

$400

Below Asking

0.01%

Average Days on Market

50

Average Home Size

2238 ft²

Average Home Age

84.8 years

Currently For Sale

36 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

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 73183370

Frequently Asked Questions

When was property at 8 Merrill Street built and last sold?
The property at 8 Merrill Street was built in 1885 and last sold on Jan 12, 2024 for $517,000.
How much is this home worth?
The estimated value of the home located at 8 Merrill Street is $522,098.
What are some comparable homes to 8 Merrill Street?
There are currently no comparable homes to 8 Merrill Street.
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