Score
0Somerville, MA
12 Spencer Ave UNIT 12
1.2M
3 beds
2 baths
1,883 sqft
3 bd • 2 ba • 1,883 sf
This analysis was generated on 1/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$1,178,000
Price/Sq.Ft
$626
Year Built
1900
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This 3-bedroom, 2-bath condo at 12 Spencer Ave UNIT 12, Somerville, MA offers exceptional value with its prime location and spacious layout. At 1,883 sqft, it's significantly larger than the average condo in the area, providing ample living space. The price per square foot of $625.60 is competitive for the Somerville market, especially considering its proximity to Davis Square, Porter Square, the Green Line T, and Minuteman Bike Path. The property boasts desirable features such as hardwood floors throughout, multiple bay windows for abundant natural light, and an oversized private rear deck. Recent updates include granite countertops and stainless steel appliances in the kitchen, enhancing its modern appeal. The condo's minimal flood risk (1/10) and fire risk (1/10) are significant positives, potentially leading to lower insurance costs. The property's age (built in 1900) adds character and charm, with period details like dentil moldings preserved alongside modern conveniences.
The Bad
While the property has many positives, there are some potential drawbacks to consider. The listing price of $1,178,000 is at the higher end of the Somerville market, which may limit the pool of potential buyers. The property's age (125 years old) could mean higher maintenance costs and potential updates needed for older systems. The HOA fees, while including water, sewer, insurance, and maintenance structure, are not specified and could be substantial given the property's size and age. The estimated insurance cost of $4,240.80 per year is relatively high, likely due to the property's value and the major wind risk (6/10). The air quality risk is moderate (3/10), with 3 bad air days per year, which may be a concern for some buyers. Additionally, the heat risk is major (6/10) with 7 hot days per year and a 98th percentile temperature of 96°F, potentially leading to higher cooling costs during summer months.
The Ugly
The most concerning aspect of this property is the major wind risk (6/10), which is classified as critical for insurance purposes. This could lead to significantly higher insurance premiums and potential difficulty in obtaining comprehensive coverage. The property's age also raises concerns about potential hidden issues or necessary upgrades that may not be immediately apparent, such as outdated electrical systems, plumbing, or structural concerns that are common in homes of this era. The heat risk (6/10) combined with the property's age suggests that the insulation and HVAC systems may need upgrades to maintain comfort and energy efficiency during extreme weather events. The local high school's low rating (4/10) could be a significant deterrent for families with school-age children, potentially impacting long-term property value and resale prospects.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. Young professionals or couples without children who value proximity to urban amenities and public transportation.
2. Buyers with a household income of $200,000+ per year, based on the property price and potential mortgage payments.
3. Those who appreciate historic homes and are willing to invest in maintaining period features.
4. Commuters working in Boston or Cambridge, given the excellent transit options nearby.
5. Investors looking for a high-end rental property, with potential monthly rents around $4,030 for a three-bedroom unit in the area.
6. Empty nesters or retirees downsizing from larger homes but still wanting ample space and a prime location.
7. Buyers who prioritize walkability and access to diverse dining, shopping, and cultural experiences offered by Davis and Porter Squares.
Not For
This property is not ideal for:
1. First-time homebuyers or those with limited budgets, given the high purchase price and potential maintenance costs.
2. Families with school-age children who prioritize high-quality public schools, due to the local high school's low rating.
3. Buyers seeking a low-maintenance or turnkey property, as the age of the home may require ongoing upkeep and updates.
4. Those with limited mobility, as the property is multi-level and may not be easily accessible.
5. Investors looking for maximum cash flow, as the high purchase price may limit rental yields.
6. Buyers extremely sensitive to air quality issues or heat, given the moderate air quality risk and major heat risk.
7. Those seeking new construction or modern architectural styles, as this is a historic property with period features.
Demographics
Area Median Income
$117,601
Property History
Price History
Ownership Timeline
$980,000Financed
Jun 26, 2019Brooke L Blower, Jamie WebsterThomas Colthurst
Condominium Deed
Standard Sale (Purchase/Resales)
$525,000Financed
Jan 1, 1970Fariba Rostamnejad, Sirous RostamnejadBrooke L Blower, Jamie Webster
Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
7.0/10
GoodHigh
4.0/10
AverageFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$1,178,000
Price/sqft
$626
Layout
3 bd•2 ba
Days on market
7 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$958,417
22.9%
Your price is 22.9% above average
Median Price
$1,025,000
14.9%
Based on 6 recent sales
Price per Sq.Ft
$518
20.8%
Your price is 20.8% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 18 Wesley Park, Somerville, MA 02143 | $1,025,000 | 1,950 | 4 | 2 | $52616.0% | 11/21/2024 |
| 17 Willow Avenue #2, Somerville, MA 02143 | $980,000 | 1,848 | 4 | 2 | $53015.2% | 11/13/2024 |
| 11 Spring Hill Ter, Somerville, MA 02143 | $1,100,000 | 1,757 | 4 | 2 | $6260.1% | 10/31/2024 |
| 50 Hicks Ave #21, Medford, MA 02155 | $628,500 | 1,690 | 2 | 2 | $37240.6% | 11/6/2024 |
| 5 Banks Street #2, Somerville, MA 02144 | $1,175,000 | 1,795 | 3 | 2 | $6554.6% | 10/4/2024 |
| 608 Main St, Medford, MA 02155 | $842,000 | 2,112 | 4 | 2 | $39936.3% | 10/23/2024 |
18 Wesley Park, Somerville, MA 02143
Price: $1,025,000
Sq.Ft: 1,950
Beds/Baths: 4/2
$/Sq.Ft:
$52616.0%
Sale Date: 11/21/2024
17 Willow Avenue #2, Somerville, MA 02143
Price: $980,000
Sq.Ft: 1,848
Beds/Baths: 4/2
$/Sq.Ft:
$53015.2%
Sale Date: 11/13/2024
11 Spring Hill Ter, Somerville, MA 02143
Price: $1,100,000
Sq.Ft: 1,757
Beds/Baths: 4/2
$/Sq.Ft:
$6260.1%
Sale Date: 10/31/2024
50 Hicks Ave #21, Medford, MA 02155
Price: $628,500
Sq.Ft: 1,690
Beds/Baths: 2/2
$/Sq.Ft:
$37240.6%
Sale Date: 11/6/2024
5 Banks Street #2, Somerville, MA 02144
Price: $1,175,000
Sq.Ft: 1,795
Beds/Baths: 3/2
$/Sq.Ft:
$6554.6%
Sale Date: 10/4/2024
608 Main St, Medford, MA 02155
Price: $842,000
Sq.Ft: 2,112
Beds/Baths: 4/2
$/Sq.Ft:
$39936.3%
Sale Date: 10/23/2024
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