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Danvers 01923
8 Rainbow Terrace
$295,000
● House - Off Market

8 Rainbow Terrace

Danvers, MA 01923
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,539 Ft²
$567,017
RealtyHop Estimate
89.07%
Since Oct 1, 2007
MA-Boston
Primary Model

About This Property

Location, Location, Location... Commuters take notice, easy access to Rt. 128, Rt. 114 & Rt. 1. Great opportunity for some one looking to do a little TLC... new paint and this home would look great. Features completely renovated lower level w/potential for a second bathroom (plumbing is roughed), large yard, quite street. Entertaining all offers.
Unit Size
1,539 Ft²
Days on Market
-
Land Size
0.23 acres
Price per sqft
$195
Property Type
House
Property Taxes
$275
HOA Dues
-
Year Built
1965

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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 #70602661)

Price History

Date / Event Date Event Price
Sep 4, 2007 Sold
Premium
Sold
Jun 22, 2007 Listed by EXIT Griffo Realty $299,900
Listed by EXIT Griffo Realty
Jul 27, 2001 Sold
Premium
Sold
Apr 30, 2001 Listed by EXIT Griffo Realty $269,900
Listed by EXIT Griffo Realty

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1965
  • Effective Year Built: 1965
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,347
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,071
  • Total Building Area: 2,482
  • Gross Building Area: 2,891
  • Building Area: 2,482
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,482
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000231
  • 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:064 L:157 P:
  • Lot: 157
  • Municipality: DANVERS
  • Latitude: 42.5483
  • Longitude: -70.9224

    Address

  • Full Address: 8 Rainbow Ter
  • Address - House Number: 8
  • Address - Street Name: Rainbow
  • Address - Suffix Type: Ter
  • State: MA
  • City Name: Danvers
  • Carrier Code: C008
  • 4-Digit Zip Code: 3720
  • Zip Code: 01923

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $590,200

    Appraisal Valuation

  • Standard Deviation: 0.1679
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 78
  • Final Value: 614,604
  • High Value: 717,923
  • Low Value: 511,285

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $531,200
  • Assessed Land Value: $342,100
  • Assessed Improvements Value: $189,100

    Sales

  • Current Sale Recording Date: Sep 04, 2007
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: Jul 27, 2001
  • Previous Sale Amount: $265,400
  • 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 Danvers

Stats & Trends

Median Asking:

$699,000

Sale Price/ft²

$400

Below Asking

0.01%

Average Days on Market

50

Average Home Size

2240 ft²

Average Home Age

84.6 years

Currently For Sale

28 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 160 Federal St, Salem, MA, 01970

$1,725 /mo

  • 1 Bed
  • 1 Bath
160 Federal St, Salem, MA, 01970 Listing by Rick Rivera

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 70602661

Frequently Asked Questions

When was property at 8 Rainbow Terrace built and last sold?
The property at 8 Rainbow Terrace was built in 1965 and last sold on Jan 1, 1970 for $295,000.
How much is this home worth?
The estimated value of the home located at 8 Rainbow Terrace is $318,401.
What are some comparable homes to 8 Rainbow Terrace?
There are currently no comparable homes to 8 Rainbow Terrace.
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