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Melrose 02176 Melrose East Side
8 Spear St
$490,000
● House - Off Market

8 Spear St

Melrose, MA 02176
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,080 Ft²
$713,956
RealtyHop Estimate
43.08%
Since Oct 1, 2019
MA-Boston
Primary Model

About This Property

Beautifully updated cute ranch with new kitchen and bathroom, new hardwood floors, new plumbing and electrical systems. The kitchen is equipped with stainless steel appliances, granite counter tops and recessed lights. Good size bedrooms with lot of lights. This home is located near schools and public transportation and parks. Beautiful patio , with private setting   and one car garage.  Come take a look .
Unit Size
1,080 Ft²
Days on Market
-
Land Size
0.23 acres
Price per sqft
$462
Property Type
House
Property Taxes
$528
HOA Dues
-
Year Built
1920

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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 #72516258)

Price History

Date / Event Date Event Price
Sep 23, 2019 Sold
Premium
Sold
Jun 10, 2019 Listed by Solution Brokers Inc $499,000
Listed by Solution Brokers Inc
Jun 29, 2017 Sold
Premium
Sold
May 10, 2017 Listed by Solution Brokers Inc $379,000
Listed by Solution Brokers Inc

Property Highlights

Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1920
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 18
  • 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: 480
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 26,624
  • Total Building Area: 1,080
  • Gross Building Area: 2,001
  • Building Area: 1,080
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,080
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000611
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Melrose School District
  • School Tax School District: MELROSE SD
  • Census Tract: 336300

Zoning

  • Zoning: SRA

Geography

  • Parcel: MELR M:0E3 P:0000111
  • Municipality: MELROSE
  • Latitude: 42.4457
  • Longitude: -71.0536

    Address

  • Full Address: 8 Spear St
  • Address - House Number: 8
  • Address - Street Name: Spear
  • Address - Suffix Type: St
  • State: MA
  • City Name: Melrose
  • Carrier Code: C031
  • 4-Digit Zip Code: 5616
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $612,000

    Appraisal Valuation

  • Standard Deviation: 0.1625
  • Valuation Date: Feb 07, 2024
  • Confidence Score: 79
  • Final Value: 726,097
  • High Value: 844,157
  • Low Value: 608,037

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $616,300
  • Assessed Land Value: $466,500
  • Assessed Improvements Value: $149,800

    Sales

  • Current Sale Contract Date: Sep 17, 2019
  • Current Sale Recording Date: Sep 23, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 1824137
  • Previous Sale Recording Date: Jun 29, 2017
  • Previous Sale Contract Date: Jun 21, 2017
  • Previous Sale Amount: $370,000
  • 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 Melrose East Side

Stats & Trends

Median Asking:

$949,950

Sale Price/ft²

$454

Below Asking

0.01%

Average Days on Market

45

Average Home Size

1893 ft²

Average Home Age

91.6 years

Currently For Sale

10 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 195 Pleasant St, MA, 02148

$1,670 /mo

  • 1 Bed
  • 1 Bath
195 Pleasant St, MA, 02148 Listing by Rick Rivera

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 72516258

Frequently Asked Questions

When was property at 8 Spear Street built and last sold?
The property at 8 Spear Street was built in 1920 and last sold on Sep 17, 2019 for $490,000.
How much is this home worth?
The estimated value of the home located at 8 Spear Street is $502,360.
What are some comparable homes to 8 Spear Street?
There are currently no comparable homes to 8 Spear Street.
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