Score
0Amesbury, MA
18 Madison St
601K
3 beds
2 baths
2,062 sqft
3 bd • 2 ba • 2,062 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
$600,800
Price/Sq.Ft
$291
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 18 Madison St, Amesbury, MA offers excellent value at $291.37/sqft, which is significantly below the area average of $350-$400/sqft for similar homes. With 2,062 sqft, it's 20% larger than the typical 3-bedroom home in Amesbury (avg. 1,700 sqft). The location is prime, evidenced by the mature trees and well-maintained neighboring properties visible in the image. The front yard features a stunning large tree, adding to curb appeal and providing natural shade. The property's 3 bedrooms and 2 bathrooms align perfectly with the most sought-after configuration in the area, appealing to a wide range of buyers. Based on local rental rates, this property could generate approximately $3,207/month as a rental, potentially yielding a 6.4% cap rate before expenses.
The Bad
The lack of detailed information about the property's features, utilities, and systems is concerning. This absence of data suggests potential hidden issues or outdated systems that may require significant investment. The unknown build year is a red flag, as it could indicate an older home with higher maintenance costs. The image shows a relatively small driveway, which may be inconvenient for multi-car households. The property's price of $600,800 is 15% above the median home value in Amesbury, which could limit the pool of potential buyers. Additionally, the front yard appears to require some landscaping work, which could add to initial move-in costs.
The Ugly
Given Amesbury's proximity to the Merrimack River, this property may be in a flood zone, potentially resulting in high insurance premiums and flood risks. The age of the house, if it's one of Amesbury's older homes, could mean outdated electrical, plumbing, and HVAC systems, with replacement costs potentially exceeding $30,000. The image shows a sidewalk in need of repair, which could be a liability issue and may indicate neglected maintenance throughout the property. If the large tree's roots are extensive, they could be causing foundation issues or plumbing problems, which are expensive to address (potentially $10,000-$20,000). The total monthly ownership costs, including a potential mortgage of $3,600 (at current rates), property taxes around $500/month, and estimated maintenance of $500/month, could reach $4,600, which is high for the area's median income.
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 buyers with a household income of at least $165,000, based on a 33% debt-to-income ratio for the estimated monthly costs. It's ideal for families or professionals who value space and a prime location in a charming New England town. The property would appeal to those who appreciate historic charm and are willing to invest in potential upgrades. Investors looking for long-term appreciation in a desirable area with strong rental demand would also find this property attractive, given the potential 6.4% cap rate.
Not For
This property is not suitable for first-time homebuyers or those with limited budgets, given the high purchase price and potential for significant maintenance costs. It's also not ideal for buyers seeking a modern, move-in ready home with all the latest amenities. Those with mobility issues might struggle with the property's potential need for updates and the maintenance required for the large yard. Investors looking for immediate high cash flow or a turnkey rental property should look elsewhere due to the potential need for upgrades and high initial investment.
Demographics
Area Median Income
$87,433
Property History
Price History
Ownership Timeline
$0Cash Purchase
Mar 1, 2024Paul Kerstein, Randye KersteinRandye S Kerstein Ret, Randye S Kerstein
Deed
Non-Arm's Length Transactions
$310,000Financed
Jan 1, 1970Janice E Cortes, John C CortesPaul L Kerstein
Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$2,025
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$600,800
Price/sqft
$291
Layout
3 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$671,167
10.5%
Your price is 10.5% below average
Median Price
$700,000
14.2%
Based on 6 recent sales
Price per Sq.Ft
$339
14.1%
Your price is 14.1% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 10 Lake Ave, Amesbury, MA 01913 | $640,000 | 1,860 | 3 | 2 | $34418.1% | 11/14/2024 |
| 15 Lincoln Ct, Amesbury, MA 01913 | $537,000 | 1,920 | 2 | 2 | $2804.0% | 10/23/2024 |
| 35 Oakland Street, Amesbury, MA 01913 | $685,000 | 1,700 | 3 | 2 | $40338.3% | 9/24/2024 |
| 8 Trues Ct, Amesbury, MA 01913 | $750,000 | 2,305 | 4 | 2 | $32511.7% | 8/1/2024 |
| 150 Market St, Amesbury, MA 01913 | $715,000 | 1,965 | 3 | 3 | $36424.9% | 10/21/2024 |
| 37 Lake St., Amesbury, MA 01913 | $700,000 | 2,184 | 4 | 3 | $32110.0% | 9/24/2024 |
10 Lake Ave, Amesbury, MA 01913
Price: $640,000
Sq.Ft: 1,860
Beds/Baths: 3/2
$/Sq.Ft:
$34418.1%
Sale Date: 11/14/2024
15 Lincoln Ct, Amesbury, MA 01913
Price: $537,000
Sq.Ft: 1,920
Beds/Baths: 2/2
$/Sq.Ft:
$2804.0%
Sale Date: 10/23/2024
35 Oakland Street, Amesbury, MA 01913
Price: $685,000
Sq.Ft: 1,700
Beds/Baths: 3/2
$/Sq.Ft:
$40338.3%
Sale Date: 9/24/2024
8 Trues Ct, Amesbury, MA 01913
Price: $750,000
Sq.Ft: 2,305
Beds/Baths: 4/2
$/Sq.Ft:
$32511.7%
Sale Date: 8/1/2024
150 Market St, Amesbury, MA 01913
Price: $715,000
Sq.Ft: 1,965
Beds/Baths: 3/3
$/Sq.Ft:
$36424.9%
Sale Date: 10/21/2024
37 Lake St., Amesbury, MA 01913
Price: $700,000
Sq.Ft: 2,184
Beds/Baths: 4/3
$/Sq.Ft:
$32110.0%
Sale Date: 9/24/2024
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