NOT LISTED FOR SALE

8 Fairview Terrace Unit 2 Somerville, MA 02145

Winter Hill Neighborhood

Estimated Value: $720,000 - $778,000

3 Beds
1.5 Baths
1,114 Sq Ft
$286/mo HOA Fee

Last Sold March 28, 2023

Last sale price $711,119 $638 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $4,847/month

5 Days on Market

Highlights

  • Medical Services
  • Property is near public transit
  • Tennis Courts
  • Somerville High School Rated A-
  • Wood Flooring
  • Jogging Path

About This Home

As of March 2023

A fantastic Somerville opportunity for investors or owner occupants looking to offset their mortgage with rental income. This delightful, flexible 3 bed / 1.5 bath residence w/ THREE CAR PARKING offers a peaceful retreat on a secluded dead-end street with zero through traffic. This second level unit boasts gleaming hardwood floors, lovely morning light, an updated kitchen, a bath and a half, in-unit laundry, & private storage in the basement. Entertain guests on the communal patio; the pet-friendly condo association is fully owner occupied and has dutifully improved the property in recent years, so no projects! Conveniently located steps to bus lines, commuter routes including Rts 93/38/16 or effortless access to the Green and Orange lines and the Gilman Square Green Line T. With a Walk Score of 88, this is an unbeatable investment or dreamy owner-occupancy opportunity. Don't miss out on this lucrative investment – schedule a showing today!

Last Agent to Sell the Property

The Rasner Group

Keller Williams Realty Boston-Metro | Back Bay Listed on: 02/23/2023

Keller Williams Realty Boston-Metro | Back Bay

Co-Listed By

Ilya Rasner

Keller Williams Realty Boston-Metro | Back Bay

Last Buyer's Agent

Thalia Tringo

Thalia Tringo & Associates Real Estate, Inc.

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $5,943

Year Built

  • Built in 1915

HOA Fees

  • $286 Monthly HOA Fees

Home Design

  • Entry on the 2nd floor
  • Frame Construction

Interior Spaces

  • 1,114 Sq Ft Home
  • 1-Story Property
  • Basement

Kitchen

  • Range
  • Microwave
  • Freezer
  • Dishwasher

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Primary bedroom located on second floor

Laundry

  • Laundry on upper level
  • Dryer
  • Washer

Parking

  • 3 Car Parking Spaces
  • Paved Parking
  • Open Parking
  • Off-Street Parking
  • Assigned Parking

Schools

  • Winter Hill Elementary School
  • Somerville High School

Utilities

  • Window Unit Cooling System
  • 1 Cooling Zone
  • Forced Air Heating System
  • 1 Heating Zone
  • Heating System Uses Natural Gas
  • Natural Gas Connected
  • Gas Water Heater

Additional Features

  • Patio
  • Two or More Common Walls
  • Property is near public transit

Listing and Financial Details

  • Assessor Parcel Number M:48 B:C L:29 U:2,4997595

Community Details

Overview

  • Association fees include water, sewer, insurance
  • 3 Units
  • Low-Rise Condominium
  • Fairview Terrace Condominium Community

Amenities

  • Medical Services
  • Common Area
  • Shops

Recreation

  • Tennis Courts
  • Park
  • Jogging Path
  • Bike Trail

Pet Policy

  • Call for details about the types of pets allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$5,943

Year Built

Built in 1915

Lot Details

0

HOA Fees

$286 per month

Listing Details

  • Property Type: Residential
  • Property Sub Type: Condominium
  • Structure Type: Low-Rise, 2/3 Family
  • Year Built: 1915
  • Buyer Agency Type: %
  • Entry Level: 2
  • Transaction Broker Type: %
  • Year Built Details: Actual,Approximate,Renovated Since
  • SUB AGENCY OFFERED: No
  • Year Round: Yes
  • Compensation Based On: Net Sale Price
  • ResoPropertyType: Residential
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: VirtualTour
  • Stories: 1

Interior Features

  • Flooring: Tile, Hardwood
  • Entry Location: Unit Placement(Upper,Front,Back)
  • Fireplace YN: No
  • Appliances: Range,Dishwasher,Microwave,Refrigerator,Freezer,Washer,Dryer, Gas Water Heater, Utility Connections for Gas Range
  • Total Bedrooms: 3
  • Room Bedroom2 Level: Second
  • Room Bedroom3 Level: Second
  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Total Bathrooms: 2
  • Room Master Bedroom Level: Second
  • Master Bathroom Features: Yes
  • Bathroom 1 Level: Second
  • Bathroom 2 Level: Second
  • Room Dining Room Level: Second
  • Room Kitchen Level: Second
  • Laundry Features: Second Floor, In Unit
  • Room Living Room Level: Second
  • Basement: Y
  • Living Area: 1114
  • Stories Total: 1
  • MAIN LO: BB5522
  • MAIN SO: AC1102

Exterior Features

  • Common Walls: 2+ Common Walls
  • Construction Materials: Frame
  • Patio And Porch Features: Patio
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Off Street, Assigned, Paved
  • Total Parking Spaces: 3

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range
  • Cooling: Window Unit(s)
  • Heating: Forced Air, Natural Gas
  • Cooling Y N: Yes
  • Electric: Circuit Breakers
  • Heating YN: Yes
  • Water Source: Public
  • HEAT ZONES: 1
  • COOLING ZONES: 1

Condo/Co-op/Association

  • Association Fee: 286.01
  • Association Fee Frequency: Monthly
  • Association YN: Yes
  • Community Features: Public Transportation, Shopping, Tennis Court(s), Park, Walk/Jog Trails, Medical Facility, Bike Path, Highway Access, T-Station
  • MANAGEMENT: Owner Association
  • ResoAssociationFeeFrequency: Monthly

Fee Information

  • Association Fee Includes: Water, Sewer, Insurance

Lot Info

  • Parcel Number: M:48 B:C L:29 U:2,4997595
  • Zoning: NR
  • Farm Land Area Units: Square Feet
  • Lot Size Units: Acres
  • OUTDOOR SPACE AVAILABLE: Yes - Common
  • ResoLotSizeUnits: Acres

Rental Info

  • Pets Allowed: Yes w/ Restrictions

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 5943

Multi Family

  • Number Of Units Total: 3
  • Basement Included Sq Ft: No

MLS Schools

  • High School: Somerville Hs
  • Elementary School: Winter Hill

Matterport 3D Tour

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 23, 2023
Closed on
Mar 28, 2023
Sold by
Arwe Jacob
Bought by
Richard Martin
Seller's Agent
The Rasner Group
Keller Williams Realty Boston-Metro | Back Bay
Buyer's Agent
Thalia Tringo
Thalia Tringo & Associates Real Estate, Inc.
List Price
$689,900
Sold Price
$711,119
Premium/Discount to List
$21,219
3.08%
Views
47
Current Estimated Value
$760,912

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$49,793
Avg. Annual Appreciation
2.41%
Original Mortgage
$311,119
Outstanding Balance
$300,981
Interest Rate
6.12%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$459,931

Purchase Details

Listed on
May 29, 2020
Closed on
Sep 3, 2020
Sold by
Triumph 46 Rt and Resnick
Bought by
Arwe Jacob
Seller's Agent
Adam Day
Steve Bremis Realty Group
Buyer's Agent
Jess Wagner
Keller Williams Realty Boston Northwest
List Price
$599,900
Sold Price
$595,000
Premium/Discount to List
-$4,900
-0.82%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.48%
Original Mortgage
$476,000
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 24, 2016
Sold by
Fairview Terrrace Rt and Resnick
Bought by
Triumph 46 Rt and Resnick
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
Richard Martin $711,119 None Available
Arwe Jacob $595,000 None Available
Triumph 46 Rt -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Richard Martin $311,119
Previous Owner Arwe Jacob $476,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/28/2023 03/28/23 Sold $711,119 +3.1% $638 / Sq Ft
03/01/2023 03/01/23 Pending -- -- --
02/23/2023 02/23/23 For Sale $689,900 +15.9% $619 / Sq Ft
10/09/2020 10/09/20 Sold $595,000 -0.8% $534 / Sq Ft View Prior Sale
06/02/2020 06/02/20 Pending -- -- --
05/29/2020 05/29/20 For Sale $599,900 -- $539 / Sq Ft
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 $7,320 $670,900 $0 $670,900
2024 $6,918 $657,600 $0 $657,600
2023 $5,943 $574,800 $0 $574,800
2022 $5,634 $553,400 $0 $553,400
2021 $5,078 $498,300 $0 $498,300
2020 $4,869 $482,600 $0 $482,600
2019 $5,034 $467,800 $0 $467,800
2018 $5,190 $458,900 $0 $458,900
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2023

    The Rasner Group

    Keller Williams Realty Boston-Metro | Back Bay

    (904) 687-8456

    1 in this area

    150 Total Sales

    The Rasner Group
    Section Image
  • Ilya Rasner

    Seller Co-Listing Agent in 2023

    Ilya Rasner

    Keller Williams Realty Boston-Metro | Back Bay

    (617) 823-9780

    1 in this area

    73 Total Sales

    Ilya Rasner
    Section Image
  • Thalia Tringo

    Buyer's Agent in 2023

    Thalia Tringo

    Thalia Tringo & Associates Real Estate, Inc.

    (617) 513-1967

    2 in this area

    105 Total Sales

    Thalia Tringo
    Section Image

  • A

    Seller's Agent in 2020

    Adam Day

    Steve Bremis Realty Group

    (617) 908-5653

    12 Total Sales

    Adam Day
    Section Image
  • Jess Wagner

    Buyer's Agent in 2020

    Jess Wagner

    Keller Williams Realty Boston Northwest

    (978) 828-5699

    45 Total Sales

    Jess Wagner
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73081303

MLS Property Information Network (MLS PIN)

APN: SOME-48 C 29 2

Massachusetts Middlesex County Somerville 02145 Winter Hill

8 Fairview Terrace Unit 2, Somerville, MA

Not Listed for Sale

Condos

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