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Property profile & analytics
OFF-MARKET
Estimated value
$2,600,000
Assisted living facilities
489 Prospect St Methuen, MA 01844-7501
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-1220115
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1900
Construction
FRAME
Total area
9,147 SF
Lot
0.43 ac (18,557 SF)
Zoning code
RC
APN
METH M:00914 B:00098 L:00002
UPID
US38-1220115
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Grace Morgan House Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.60M
Owner & transaction history
House Of Grace LLC · 1 yrs held
House Of Grace LLC
since 2024
Last sale
$2.6M
6 recorded transactions
Zoning & alternative use
RC · Methuen, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
RC Single-Family Residence District. The Single-Family Residence District RC is composed of all those areas so designated on the official zoning map. Such areas are generally served by minor arteries, collectors and local streets. RD Single-Family Residence District. The Single-Family Residence District RD is composed of developed lots approximately 10,000 s…
Zone name
Single Residence
General category
RESIDENTIAL
Zone area
618.50 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Methuen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Methuen submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,600,000
ML approach
$2,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.60M
Range $2.34M – $2.86M · ±10% · vs last sale $2.60M (Sep 18 2024)
Last sale anchor
$2.60M
Sep 18 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$284 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$12,806
Tax year 2024
Assessed value
$609,800
Assessed 2024
Previous assessed
$609,800
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$198,400
Assessed improvement
$411,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
STEAM
Cooling
YES
Buildings
1
Stories
3
Units
25
Rooms
25
Bathrooms
19
Total area
9,147 SF
Lot
0.43 ac (18,557 SF)
Zoning code
RC
APN
METH M:00914 B:00098 L:00002
UPID
US38-1220115
Jurisdiction
METHUEN
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
RC · Methuen, MAZoning RC · permitted uses
RC · Methuen, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
RC Single-Family Residence District. The Single-Family Residence District RC is composed of all those areas so designated on the official zoning map. Such areas are generally served by minor arteries, collectors and local streets. RD Single-Family Residence District. The Single-Family Residence District RD is composed of developed lots approximately 10,000 square feet in size. RG General Residence Districts. The General Residence District RG is composed of all those areas so designated on the official zoning map, and like the preceding districts is generally served by local streets and collectors. The predominant land uses are intended to be single- and two-family homes. Any other uses that would otherwise interfere with the intent of this Ordinance are discouraged.
Zone name
Single Residence
General category
RESIDENTIAL
Zone area
618.50 ac
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
STEAM
Cooling
Yes
Stories
3
Buildings
1
Units
25
Rooms
25
Bathrooms
19
Lot
0.43 ac
Current owner
From public records · entity-resolved
House Of Grace LLC
Entity
Mailing address
489 PROSPECT ST STE #2, METHUEN, MA 01844-7501
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2024
$2,600,000
House Of Grace LLC
Grace Morgan LLC
Quit Claim Arm's Length For Ne States
$2,410,000 · Berkshire Bank
Aug 27, 2013
—
Grace Morgan LLC
—
Deed Of Trust
related
$895,000 · Enterprise Bank & Trust
Mar 23, 2005
$835,000
Grace Morgan LLC
Ostrander,julie N
Grant Deed
$975,600 · Worth Funding INC
Mar 23, 2005
—
Grace Morgan LLC
—
Deed Of Trust
related
$135,000 · Stephen T Ostrander T
May 28, 2002
—
T Ashby
—
Deed Of Trust
related
$500,000 · Provident Bank INC
Dec 13, 2000
$325,000
T Ashby
Mcgowan Manor INC
Grant Deed
$375,000 · Zenon Grzybowski
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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