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$265,000
● Condo - Off Market

THREE Summit Drive #61

Reading, MA
bedrooms
2 Beds
bathrooms
2 Baths
square feet
1,105 Ft²
$592,554
RealtyHop Estimate
118.74%
Since Feb 1, 2004
National-US
Primary Model

About This Property

SUNNY & SPACIOUS TOP FLR CORNER UNIT WITH LARGE BALCONY AND EIK. CONDO FEE INCLUDES HEAT, C/A, WATER,POOL.
Unit Size
1,105 Ft²
Days on Market
-
Land Size
-
Price per sqft
$245
Property Type
Condo
Property Taxes
$193
HOA Dues
$308
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: 4 years ago (MLSPIN #30773568)

Price History

Date / Event Date Event Price
Jan 22, 2004 Sold
Premium
Sold
Sep 26, 2003 Listed by Barrett, Chris. J., REALTORS® $270,900
Listed by Barrett, Chris. J., REALTORS®

Property Highlights

Air Conditioning
Interior Details
Level: First
Width: 14
Length: 9
Area: 126
Level: First
Level: First
Width: 12
Length: 10
Area: 120
Width: 10
Length: 12
Level: First
Area: 120
Length: 18
Level: First
Area: 288
Width: 16
Level: First
Length: 16
Width: 12
Area: 192
Level: First
Full Bathrooms: 2
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Gas Water Heater, Utility Connections for Electric Range
Flooring Type: Tile, Carpet
Rooms: 5
Basement: N
Parking Details
Parking Features: Common
Exterior Details
Has Property Attached
Entry Level: 6
Security Features: Intercom
Year Built Source: Public Records
Year Built Details: Actual
PropertySubType: Condominium
Building Name: Summit Towers
Structure Type: Mid-Rise
Stories (Total): 1
Building Area Units: Square Feet
Construction Materials: Frame
Lead Paint: Unknown
Pool Features: Association, Above Ground
Lot Size Units: Acres
Zoning: CONDO
Water Source: Public, City/Town Water, City/Town Sewer
Financial Details
Tax Assessed Value: $201,300
Tax Annual Amount: $2,313
Utilities Details
Utilities: for Electric Range
Cooling Type: Central Air
Heating Type: Central, Forced Air, Natural Gas
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Heat, Water, Sewer, Insurance, Security, Maintenance Structure, Road Maintenance, Maintenance Grounds, Snow Removal
HOA/Condo/Coop Amenities: Hot Water, Pool, Laundry, Elevator(s)
HOA Fee: $308
Pets Allowed: No
Complex is Completed
Management: Professional - On Site

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

Past Sales

Date Unit Beds Baths Sqft Price Closed Listed By

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Last Updated: 4 years ago
Data Source: MLS PIN, MLS# 30773568
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