NOT LISTED FOR SALE

40 Summer St Westerly, RI 02891

Estimated Value: $510,000 - $579,000

6 Beds
2 Baths
2,489 Sq Ft
$221/Sq Ft Est. Value

Last Sold July 05, 2016

Last sale price $242,000 $97 Per Sq Ft

Est. 128% increase in value since last sale

Current estimated payment $3,184/month

54 Days on Market

Highlights

  • Marina
  • Wood Flooring
  • 2 Car Detached Garage
  • Golf Course Community
  • Tennis Courts
  • Porch

About This Home

As of July 2016

Great location on quiet street just steps to downtown. 1st floor vacant for easy showing, refinished hardwoods, built ins. Long term tenant on 2nd, new floor in kitchen. 2 car garage, laundry in units. Great rental income, lots of potential.

Last Agent to Sell the Property

The Richard Team

RE/MAX South County Listed on: 04/11/2016

Co-Listed By

Michelle Richard

RISE REC License #REB.0017161

Last Buyer's Agent

Kimber Kettlety

Coldwell Banker Coastal Homes License #RES.0022880

Coldwell Banker Coastal Homes

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,691

Year Built

  • Built in 1889

Lot Details

  • 9,485

Parking

  • 2 Car Detached Garage
  • Driveway

Home Design

  • Vinyl Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,489 Sq Ft Home
  • 2-Story Property
  • Storm Doors
  • Laundry in unit

Kitchen

  • Oven
  • Range

Flooring

  • Wood
  • Vinyl

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 2 Full Bathrooms

Unfinished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Utilities

  • No Cooling
  • Heating System Uses Oil
  • Heating System Uses Steam
  • 100 Amp Service
  • Gas Water Heater

Additional Features

  • Porch
  • 9,485 Sq Ft Lot
  • Property near a hospital

Listing and Financial Details

  • Tenant pays for hot water
  • Tax Lot 141
  • Assessor Parcel Number 40SUMMERSTWEST

Community Details

Overview

  • 2 Units
  • In Town Subdivision

Amenities

  • Public Transportation

Recreation

  • Marina
  • Golf Course Community
  • Tennis Courts

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,691

Year Built

Built in 1889

Lot Details

0

Parking

2

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.2177
  • Co List Office Mls Id: RMAX16
  • Co List Office Phone: 401-596-2067
  • Subdivision Name: IN TOWN
  • Above Grade Finished Sq Ft: 2489.0
  • Garage Yn: Yes
  • New Construction: No
  • Year Built: 1889
  • Special Features: VirtualTour

Interior Features

  • Number Of Buildings: 1
  • Appliances: Gas Water Heater, Oven, Range, Refrigerator, Water Heater
  • Has Basement: Full, Unfinished, Walk-Out Access
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 6
  • Door Features: Storm Door(s)
  • Fireplace: No
  • Flooring: Hardwood, Vinyl
  • Living Area: 2489.0
  • Stories: 2

Exterior Features

  • Construction Type: Vinyl Siding
  • Exterior Features: Porch, Paved Driveway
  • Foundation Details: Concrete Perimeter
  • Patio And Porch Features: Porch

Garage/Parking

  • Attached Garage: No
  • Covered Parking Spaces: 2.0
  • Garage Spaces: 2.0
  • Parking Features: Detached, Garage
  • Total Parking Spaces: 6.0

Utilities

  • Laundry Features: In Unit
  • Cooling: None
  • Cooling Y N: No
  • Heating: Oil, Steam
  • Heating Yn: Yes
  • Electric: 100 Amp Service, Circuit Breakers
  • Sewer: Connected
  • Utilities: Sewer Connected
  • Water Source: Connected

Condo/Co-op/Association

  • Community Features: Golf, Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Tennis Court(s), Sidewalks
  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 9485.0
  • Parcel #: 40SUMMERSTWEST
  • Zoning: R6

Rental Info

  • Tenant Pays: Hot Water

Multi Family

  • Number Of Units Total: 2

Tax Info

  • Tax Annual Amount: 2691.0
  • Tax Lot: 141
  • Tax Year: 2015

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 19, 2020
Sold by
Moran Lance
Bought by
Moran Lance and Skubal-Moran Sara A
Current Estimated Value
$551,204

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$206,500
Outstanding Balance
$142,321
Interest Rate
3.3%
Mortgage Type
New Conventional
Estimated Equity
$408,883

Purchase Details

Listed on
Apr 11, 2016
Closed on
Jul 6, 2016
Sold by
Stefanski T T and Stefanski S
Bought by
Moran Lance
Seller's Agent
The Richard Team
RE/MAX South County
Buyer's Agent
Kimber Kettlety
Coldwell Banker Coastal Homes
List Price
$239,600
Sold Price
$242,000
Premium/Discount to List
$2,400
1%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.07%
Original Mortgage
$229,900
Interest Rate
3.64%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 2, 2005
Sold by
Morrison Stephen and Morrison Maryanne
Bought by
Stefanski Michael and Stefanski Ellen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
5.81%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Moran Lance -- None Available
Moran Lance $242,000 --
Stefanski Michael $375,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Moran Lance $206,500
Previous Owner Moran Lance $229,900
Previous Owner Stefanski Michael $264,400
Previous Owner Stefanski Michael $300,000
Previous Owner Stefanski Michael $34,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/05/2016 07/05/16 Sold $242,000 +1.0% $97 / Sq Ft
06/05/2016 06/05/16 Pending -- -- --
04/11/2016 04/11/16 For Sale $239,600 -- $96 / Sq Ft
Source: State-Wide MLS

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 $3,546 $455,800 $160,400 $295,400
2024 $3,197 $305,900 $114,900 $191,000
2023 $3,108 $305,900 $114,900 $191,000
2022 $3,090 $305,900 $114,900 $191,000
2021 $3,108 $257,700 $100,000 $157,700
2020 $3,075 $259,500 $100,000 $159,500
2019 $3,047 $259,500 $100,000 $159,500
2018 $2,959 $239,600 $100,000 $139,600
2017 $2,875 $239,600 $100,000 $139,600
2016 $2,875 $239,600 $100,000 $139,600
2015 $3,029 $269,700 $102,000 $167,700
2014 $2,980 $269,700 $102,000 $167,700
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2016

    The Richard Team

    RE/MAX South County

  • M

    Seller Co-Listing Agent in 2016

    Michelle Richard

    RISE REC

    Section Image
  • Kimber Kettlety

    Buyer's Agent in 2016

    Kimber Kettlety

    Coldwell Banker Coastal Homes

    (401) 741-8722

    77 in this area

    168 Total Sales

    Kimber Kettlety
    Section Image
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Map

Source: State-Wide MLS

MLS Number: 1122583

State-Wide MLS

APN: WEST-000057-000141

Rhode Island Washington County Westerly 02891

40 Summer St, Westerly, RI

Not Listed for Sale

MultiFamily

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