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Lexington 02420 Follen Heights
8 Spencer Street
$690,000
● House - Off Market

8 Spencer Street

Lexington, MA 02420
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,356 Ft²
$847,304
RealtyHop Estimate
7.39%
Since Feb 1, 2023
MA-Boston
Primary Model

About This Property

At this cherished East Lexington location, you'll find this Village Colonial waiting for you to make it your own. The main level offers a kitchen with pantry area, dining room with a built-in, and a spacious living room. The second floor has three bedrooms and a full bath. From one of the bedrooms there are stairs to the attic, ready to be finished for additional living space. Outside there is a shed, originally a garage, that could make a great workshop. You're just steps away from public transportation and a short walk to Wilson Farm. The Minuteman Bikeway is also close by, as is Great Meadows conservation land. This could be your "diamond in the rough" opportunity!
Unit Size
1,356 Ft²
Days on Market
-
Land Size
0.16 acres
Price per sqft
$582
Property Type
House
Property Taxes
$829
HOA Dues
-
Year Built
1927

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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: 6 months ago (MLSPIN #73062597)

Price History

Date / Event Date Event Price
Jan 17, 2023 Sold
Premium
Sold
Dec 15, 2022 In contract -
In contract
Dec 2, 2022 Listed by Barrett Sotheby's International Realty $789,000
Listed by Barrett Sotheby's International Realty

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1927
  • Effective Year Built: 1927
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 2
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 15
  • Exterior Walls Type: 18
  • 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: 648
  • Garage Type: 7
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,763
  • Total Building Area: 1,356
  • Gross Building Area: 2,784
  • Building Area: 1,356
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,356
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000155
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Lexington School District
  • Census Tract: 358100

Zoning

  • Zoning: RS

Geography

  • Parcel: LEXI M:0022 L:000007
  • Lot: 7
  • Municipality: LEXINGTON
  • Latitude: 42.4329
  • Longitude: -71.2076

    Address

  • Full Address: 8 Spencer St
  • Address - House Number: 8
  • Address - Street Name: Spencer
  • Address - Suffix Type: St
  • State: MA
  • City Name: Lexington
  • Carrier Code: C023
  • 4-Digit Zip Code: 3913
  • Zip Code: 02420

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,036,100

    Appraisal Valuation

  • Standard Deviation: 0.1727
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 77
  • Final Value: 928,000
  • High Value: 1,088,292
  • Low Value: 767,709

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $797,000
  • Assessed Land Value: $547,000
  • Assessed Improvements Value: $250,000

    Sales

  • Current Sale Contract Date: Jan 17, 2023
  • Current Sale Recording Date: Jan 17, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 5486
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 Follen Heights

Stats & Trends

Median Asking:

$1,400,000

Sale Price/ft²

$526

Below Asking

0.02%

Average Days on Market

58

Average Home Size

4465 ft²

Average Home Age

40.1 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

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Last Updated: 6 months ago
Data Source: MLS PIN, MLS# 73062597

Frequently Asked Questions

When was property at 8 Spencer Street built and last sold?
The property at 8 Spencer Street was built in 1927 and last sold on Jan 17, 2023 for $690,000.
How much is this home worth?
The estimated value of the home located at 8 Spencer Street is $796,436.
What are some comparable homes to 8 Spencer Street?
There are currently no comparable homes to 8 Spencer Street.
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