Score
0Millis, MA
17 Lansing Way #17
889K
3 beds
3 baths
2,495 sqft
3 bd • 3 ba • 2,495 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$889,000
Price/Sq.Ft
$356
Year Built
2019
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This 55+ community townhome at 17 Lansing Way in Millis, MA offers exceptional value at $356.31/sqft, which is 14% below the median price of $415/sqft for similar properties in the area. Built in 2019, it's a relatively new construction with modern amenities and finishes. The 2,495 sqft layout is 25% larger than the average 3-bedroom condo in Millis (typically around 2,000 sqft). The first-floor master suite with two walk-in closets and a large tiled shower adds significant value, appealing to the 55+ demographic. The open floor plan, finished basement, and ample entertaining space cater well to this market. Community amenities like the pool, pickleball courts, and clubhouse offer a resort-like lifestyle, potentially saving residents $1,500-$2,000 annually in private club memberships. The property's minimal flood risk (1/10) is significantly better than the area average of 3/10, potentially leading to lower insurance costs.
The Bad
The current listing price of $889,000 reflects a 10% increase from its last sale price of $809,000 in 2022, which may be ambitious given the broader market conditions. The property has been on the market for 16 days with several price reductions since June 2024, suggesting potential overpricing. The HOA fees, while inclusive of many services, are not specified and could be substantial for a property of this type and in this area (typically ranging from $400-$600/month). The moderate fire risk (3/10) and major heat risk (5/10) may lead to higher insurance premiums and increased cooling costs during summer months. The location in Millis, while charming, offers limited access to major employment hubs, with Boston being approximately a 45-minute drive away.
The Ugly
The property faces a major wind risk (6/10), which is categorized as critical for insurance purposes. This could lead to significantly higher insurance premiums, potentially 20-30% above average rates. The multiple price reductions since June 2024 (from $949,900 to $889,000) indicate a softening market or potential overvaluation, which could impact future appreciation. The 55+ age restriction limits the potential buyer pool, which could affect resale value and liquidity. The lack of specific HOA fee information is concerning, as these fees can substantially impact the total cost of ownership. Given the amenities offered, annual HOA fees could potentially range from $5,000 to $8,000 or more.
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 ideally suited for active retirees or pre-retirees aged 55+ with a household income of at least $200,000, based on the purchase price and potential ongoing costs. It's perfect for those downsizing from larger family homes who still want space for visiting family and entertaining. The first-floor master suite caters to those prioritizing accessibility and aging in place. The community amenities make it ideal for social seniors who enjoy an active lifestyle and want a maintenance-free living situation. It's also suitable for part-time residents or snowbirds who want a lock-and-leave property with year-round maintenance.
Not For
This property is not suitable for families with children due to the 55+ age restriction. It's also not ideal for first-time homebuyers or those with limited budgets, given the high purchase price and potential HOA fees. Investors looking for short-term rentals should avoid this property due to likely restrictions in the 55+ community. Young professionals or those prioritizing a short commute to major cities like Boston would find the location less than ideal. Additionally, those seeking a more rural or completely private setting may find the community-style living less appealing.
Demographics
Area Median Income
$131,138
Property History
Price History
Ownership Timeline
$809,000Cash Purchase
Feb 10, 2022Kimberly A SwansonJ&S Pack 2019 T, Judy Topper
Quit Claim Deed
Standard Sale (Purchase/Resales)
$601,256Financed
Feb 3, 2020Toll Ma Land 3 LpKimberly A Swanson
Condominium Deed
New Construction Residential Transactions
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
5.0/10
AverageMiddle
6.0/10
GoodHigh
7.0/10
GoodFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$889,000
Price/sqft
$356
Layout
3 bd•3 ba
Days on market
17 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$829,658
7.2%
Your price is 7.2% above average
Median Price
$839,995
5.8%
Based on 6 recent sales
Price per Sq.Ft
$329
8.3%
Your price is 8.3% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 35 Dudley Rd, Holliston, MA 01746 | $789,900 | 2,379 | 4 | 3 | $3326.8% | 10/23/2024 |
| 23 Helen Lane #23, Millis, MA 02054 | $905,000 | 2,448 | 2 | 3 | $3703.8% | 10/3/2024 |
| 4 Curtis Ln, Medway, MA 02053 | $853,059 | 2,671 | 4 | 3 | $31910.4% | 10/19/2024 |
| 12 Plimpton Farm Rd #246, Millis, MA 02054 | $839,995 | 2,557 | 2 | 3 | $3297.8% | 9/28/2024 |
| 49 Richardson Dr. #296, Millis, MA 02054 | $799,995 | 2,557 | 2 | 3 | $31312.2% | 9/11/2024 |
| 15 Grove Street, Millis, MA 02054 | $790,000 | 2,525 | 4 | 3 | $31312.2% | 8/17/2024 |
35 Dudley Rd, Holliston, MA 01746
Price: $789,900
Sq.Ft: 2,379
Beds/Baths: 4/3
$/Sq.Ft:
$3326.8%
Sale Date: 10/23/2024
23 Helen Lane #23, Millis, MA 02054
Price: $905,000
Sq.Ft: 2,448
Beds/Baths: 2/3
$/Sq.Ft:
$3703.8%
Sale Date: 10/3/2024
4 Curtis Ln, Medway, MA 02053
Price: $853,059
Sq.Ft: 2,671
Beds/Baths: 4/3
$/Sq.Ft:
$31910.4%
Sale Date: 10/19/2024
12 Plimpton Farm Rd #246, Millis, MA 02054
Price: $839,995
Sq.Ft: 2,557
Beds/Baths: 2/3
$/Sq.Ft:
$3297.8%
Sale Date: 9/28/2024
49 Richardson Dr. #296, Millis, MA 02054
Price: $799,995
Sq.Ft: 2,557
Beds/Baths: 2/3
$/Sq.Ft:
$31312.2%
Sale Date: 9/11/2024
15 Grove Street, Millis, MA 02054
Price: $790,000
Sq.Ft: 2,525
Beds/Baths: 4/3
$/Sq.Ft:
$31312.2%
Sale Date: 8/17/2024
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