NOT LISTED FOR SALE

38 Fairmount Ave Somerville, MA 02144

Teele Square Neighborhood

Estimated Value: $1,274,000 - $1,689,093

7 Beds
3.5 Baths
3,440 Sq Ft
$434/Sq Ft Est. Value

Last Sold August 05, 2024

Last sale price $1,435,000 $417 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $8,934/month

5 Days on Market

Highlights

  • Property is near public transit and schools
  • Wood Flooring
  • Jogging Path
  • Somerville High School Rated A-
  • Tennis Courts
  • 4-minute walk to North Street Veterans Playground

About This Home

As of August 2024

Family Owned for over 58 Years! UNDER A MILE to the DAVIS SQ REDLINE... just over a HALF MILE TO THE TUFTS GREEN LINE. A LOT OF HOUSE...Brick Front 14 Room (5&9) 2 FAMILY with OVER 3400 SQ FT OF LIVING AREA... living area does NOT incl E-Z BONUS EXPANSION of a previously finished basement that has ADDITIONAL HALF BATH. Quiet serene highly sought after neighborhood...close to everything! FIRST FLR UNIT IS VACANT w/ 5 rms, 2 bdrms & a full bath... 2nd Floor Unit is rented for $3,700 a month w/ 9 rms 5 bdrms & 2 full baths...lease exp is 8/31/24. Hardwood floors on 1st floor. First floor ktchn has pantry. Both units have laundry's. BASEMENT HAS OVER 900 SQ FT... MOST OF WHICH IS FINISHED. Solid house in good condition with incredible upside & fantastic rent potential. Driveway has pavers with off street parking for 2 cars. Back yard has patio area! Rated a VERY WALKABLE WALK SCORE OF 89... VERY BIKEABLE BIKE SCORE OF 87 w/ EXCELLENT TRANSIT. ENTIRE HOUSE CAN BE DELIVERED VACANT!

Last Agent to Sell the Property

Steve Bremis

Steve Bremis Realty Group Listed on: 07/11/2024

Last Buyer's Agent

Amy Weitzman

Commonwealth Standard Realty Advisors

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,806

Year Built

  • Built in 1910

Lot Details

  • 3,500 Sq Ft Lot
  • Level Lot

Home Design

  • Stone Foundation
  • Frame Construction
  • Slate Roof

Interior Spaces

  • 3,440 Sq Ft Home
  • Property has 1 Level
  • Finished Basement
  • Basement Fills Entire Space Under The House
  • Washer and Electric Dryer Hookup

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 7 Bedrooms

Parking

  • 2 Car Parking Spaces
  • Driveway
  • Open Parking
  • Off-Street Parking

Location

  • Property is near public transit and schools

Utilities

  • 2 Heating Zones
  • 220 Volts

Listing and Financial Details

  • Total Actual Rent $3,700
  • Legal Lot and Block 2 / f

Community Details

Recreation

  • Tennis Courts
  • Park
  • Jogging Path
  • Bike Trail

Additional Features

  • 2 Units
  • Shops
  • Net Operating Income $44,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,806

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Year Built: 1910
  • Dual Variable: Yes
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 3

Interior Features

  • Flooring: Wood, Tile
  • Fireplace YN: No
  • Total Bedrooms: 7
  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Total Bathrooms: 4
  • Laundry Features: Electric Dryer Hookup, Washer Hookup
  • Basement: Full, Finished
  • Living Area: 3440
  • Spa YN: No
  • Stories Total: 3
  • MAIN LO: AN5028
  • MAIN SO: AN2589

Exterior Features

  • Construction Materials: Frame
  • Foundation Details: Stone
  • Home Warranty YN: No
  • Road Frontage Type: Public
  • Roof: Slate
  • Waterfront YN: No
  • Waterview Flag: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Paved Drive, Off Street
  • Total Parking Spaces: 2

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range, for Electric Range, for Electric Dryer, Washer Hookup
  • Electric: 220 Volts, Circuit Breakers
  • Water Source: Public
  • HEAT UNITS: 2
  • HEAT ZONES: 2
  • Hot Water: Natural Gas

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Tennis Court(s), Park, Walk/Jog Trails, Bike Path, Highway Access, House of Worship, Public School, T-Station, University
  • Senior Community YN: No

Lot Info

  • Zoning: Rsdntl
  • Farm Land Area Units: Square Feet
  • Lot Features: Level
  • Lot Size Acres: 0.08
  • Lot Size Sq Ft: 3500
  • Lot Size Units: Acres
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2024
  • Tax Annual Amount: 13806
  • Tax Block: f
  • Tax Lot: 2

Multi Family

  • Net Operating Income: 44400
  • Number Of Units Total: 2
  • Total Actual Rent: 3700
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEASE 2: Y
  • LEASE 1: N

Range of Values:

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Value Increase
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Percent Increase
--
Adjusted for Inflation
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/05/2024 08/05/24 Sold $1,435,000 -4.3% $417 / Sq Ft
07/17/2024 07/17/24 Pending -- -- --
07/11/2024 07/11/24 For Sale $1,499,000 0.0% $436 / Sq Ft
03/10/2022 03/10/22 Rented $2,100 0.0% --
02/23/2022 02/23/22 Under Contract -- -- --
02/04/2022 02/04/22 For Rent $2,100 -- --
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $14,439 $1,323,500 $698,800 $624,700
2024 $13,806 $1,312,400 $698,800 $613,600
2023 $13,507 $1,306,300 $698,800 $607,500
2022 $12,719 $1,249,400 $665,600 $583,800
2021 $12,350 $1,212,000 $660,700 $551,300
2020 $11,906 $1,180,000 $661,200 $518,800
2019 $11,262 $1,046,700 $601,900 $444,800
2018 $10,344 $914,600 $547,200 $367,400
2017 $10,145 $869,300 $516,200 $353,100
2016 $9,801 $782,200 $461,000 $321,200
2015 $9,382 $744,000 $425,700 $318,300
Source: Public Records

Agents Affiliated with this Home

  • Steve Bremis

    Seller's Agent in 2024

    Steve Bremis

    Steve Bremis Realty Group

    (617) 828-1070

    5 in this area

    204 Total Sales

    Steve Bremis
    Section Image

  • A

    Buyer's Agent in 2024

    Amy Weitzman

    Commonwealth Standard Realty Advisors

    (617) 970-8287

    1 in this area

    36 Total Sales

    Amy Weitzman
    Section Image
  • Dino Confalone

    Seller's Agent in 2022

    Dino Confalone

    Gibson Sothebys International Realty

    (617) 803-5007

    1 in this area

    96 Total Sales

    Dino Confalone
    Section Image

  • J

    Seller Co-Listing Agent in 2022

    Jaqueline Lavoie

    Gibson Sothebys International Realty

    3 Total Sales

    Jaqueline Lavoie
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73263717

MLS Property Information Network (MLS PIN)

APN: SOME-000008-F000000-000002

Massachusetts Middlesex County Somerville 02144 Teele Square

38 Fairmount Ave, Somerville, MA

Not Listed for Sale

MultiFamily

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