24 days on rocket

7 Forest St, Lawrence, MA, 01841

$875,000

Home List Price

$10,000*

Closing Credit

5 Bedrooms
6 Full Baths
3,100 SqFt
$282/SqFt
Multi

Location

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7 Forest St, Lawrence$875,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1865
MLS #73315326
Lot Size0.15 Acres
StatusActive

About 7 Forest St

7 Forest St contains a total of six (6) residential units comprised of three (3), 1-Bedroom/1-Bathroom units, two (2), 1+ Bedroom/1-Bathroom units, and one (1) Studio unit with 3,100 square feet of living area in 5,458 gross square feet on a 0.15-acre parcel of land. The property features separately metered heat, hot water, and electricity for 5 of the units. The units have below-market residential rents, the opportunity exists to increase the rents to market rates in an urban-infill, high demand, supply-constrained residential market increasing the income of the Property. The property has a current cap rate of 8.00%.

Property Details

Property Features

Property Information:

  • Year Built: 1865
  • Living Area: 3,100 SqFt

Listing Office:

  • Office Name: Horvath & Tremblay
  • Office Phone: (781) 776-4000
  • Listing Agent: Spencer Norton

Interior Features

Bedroom and Bathroom Information:

  • Full Bathrooms: 6
  • Total Bedroom Count: 5

Lot Features

Lot Information:

  • Lot: Other
  • Lot Size: 0.15 Acres

Other

Directions Information:

  • Directions: Please use GPS

Price Information

Listing Price Info

Price Summary:

  • List Price: $875,000
  • Price Per SqFt: $282/SqFt

Tax Information:

  • Annual Amount: $4,861
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Lawrence, MA.

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Lawrence, MA

City

Med. Sold Price

$555K

Med. Price/SqFt

$292

Avg. Days On Market

28

# of Sold Homes

20

7 Forest St vs Lawrence

24 DAYS ON ROCKET

-4 Days

$875,000

+$320K More

$282/SqFt

-$10 Less

KEY TAKEAWAY

This property is $320K more than the Median Sold Price and $10/SqFt less than other homes in Lawrence, MA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MLS Property Information Network
  • MLS Number: #73315326

Listing Office:

  • Office Name: Horvath & Tremblay
  • Office Phone: (781) 776-4000
  • Listing Agent: Spencer Norton

IDX Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 11:55:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$4,861$396,200
2020$4,566$367,300
2019$4,728$345,600
2018$4,654$325,000
2017$4,452$290,200

History based on county public records data.

Payment Calculator

$4,435

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,690

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-4314172
2
/10

  • Guilmette Elementary School

  • 80 Bodwell St

  • 0.43 miles

  • Public District Grades 1-4

school-card-donut-4314173
2
/10

  • Community Day Arlington Elementary School

  • 150 Arlington St

  • 0.78 miles

  • Public District Grades KG-4

school-card-donut-4314174
4
/10

  • Tarbox Elementary School

  • 59 Alder St

  • 0.83 miles

  • Public District Grades 1-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $42,875. The majority of Lawrence, MA residents have income less than $35k annually. Residents typically live in single, no kids family. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›Massachusetts›Essex County›Lawrence›01841›7 Forest St

This home is located at 7 Forest St in Lawrence, MA and zip code 01841. This 3,100 square foot home, which was built in 1865, sits on a 0.15 acre lot. Features: 5 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since November 23, 2024 and is currently priced at $875,000.

In November 2024 more than 13 listings in Lawrence, MA were sold above the asking price. During the same period more than 2 listings were sold at asking price, while more than 5 were sold below. The inventory of homes for sale in Lawrence, MA between October 2024 and November 2024 decreased by 17.4%. While the average time on the market in November 2024 was 28 days, the median list price was $555,000.

From Rocket Homes Real Estate and based on county public records data.

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