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Wellesley 02482
Lot 9 Grove Street
$1,800,000
● Land - Off Market

Lot 9 Grove Street

Needham, MA 02482
bedrooms
Studio
bathrooms
0 Bath
$2,273,550
RealtyHop Estimate
13.68%
Since Sep 1, 2021
MA-Boston
Primary Model

About This Property

With approval by the planning board, this beautiful piece of land has the potential to be subdivided into two lots. The engineering work has been done to identify the layout and the process for permitting two lots in underway. The location is conveniently located within 1.5 miles of Wellesley center and backs up to conservation land. Steeped in history, this setting was once part of the Baker Estate and Ridge Hill Farm. Many mature beautiful trees offer shade and privacy. There is currently a single family home on this level lot of land. If the subdivision is approved and someone wishes to create two lots, the existing house will have to be demolished.
Unit Size
-
Days on Market
-
Land Size
5.30 acres
Price per sqft
-
Property Type
Land
Property Taxes
$1,618
HOA Dues
-
Year Built
-

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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 #72770347)

Price History

Date / Event Date Event Price
Aug 30, 2021 Sold
Premium
Sold
Jan 1, 2021 Listed by Berkshire Hathaway HomeServices Commonwealth Real Estate $2,000,000
Listed by Berkshire Hathaway HomeServices Commonwealth Real Estate

Property Highlights

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 16,052
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: E
  • Land Acres: 0000000369
  • Standard Land Use Code: 9200
  • County Land Use Code: 930

Neighborhood

  • School District Name: Wellesley School District
  • School Tax School District: WELLESLEY SD
  • Census Tract: 404400

Zoning

  • Zoning: SR10

Geography

  • Parcel: WELL M:124 R:098 S:
  • Municipality: WELLESLEY
  • Latitude: 42.2956
  • Longitude: -71.2928

    Address

  • Full Address: 9 Grove St
  • Address - House Number: 9
  • Address - Street Name: Grove
  • Address - Suffix Type: St
  • State: MA
  • City Name: Wellesley
  • Carrier Code: C052
  • 4-Digit Zip Code: 7723
  • Zip Code: 02482

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $0

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,026,000
  • Assessed Land Value: $1,026,000
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 Wellesley

Stats & Trends

Median Asking:

$2,195,000

Sale Price/ft²

$669

Below Asking

0.01%

Average Days on Market

66

Average Home Size

4133 ft²

Average Home Age

49.5 years

Currently For Sale

58 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: 5 months ago
Data Source: MLS PIN, MLS# 72770347

Frequently Asked Questions

When was property at 9 Grove Street built and last sold?
The property at 9 Grove Street was built in and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 9 Grove Street is $2,020,000.
What are some comparable homes to 9 Grove Street?
There are currently no comparable homes to 9 Grove Street.
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