Fixer upper 101...looking for your next project?Savvy buyers want to build some immediate equity?Buy, live in, update, and hold ARV = $650k+. Investors/flippers lots of remodeling possibilities with a large footprint on the main level, 3 finished levels, convert walk-up attic to primary suite, convert small bedroom on 2nd floor to another full bath/laundry. Main level has 3 large interior rooms with a 3 season enclosed porch (on right side) and a screen porch (on the front). Add heat pumps for cooling/heating on 2nd/3rd floors. Connected to town sewer and has natural gas. Deck = 12x8, Enclosed finished porch = 18x7, Screen front porch = 33x6. Fenced yard. Imagine sitting on the front porch with beautiful views of Silver Lake! Walking distance to beach and playground. Close to shopping, dining and all the things we love in Wilmington! Historians believe this may have been a dance hall in the early 20's. Some banks may not finance, speak to your lender 1st before submitting an offer!
Sale Statistics
Sale Overview
Original List Price:$350,000
Final Sale Price:$425,000
Difference:
+$75,000 (+21.4%)
Performance Metrics
121.4%
List to Sale Ratio
Sold above asking price
5
Days on Market
Very fast sale
Price per Square Foot Analysis
Original $/sq ft:$265
Sale $/sq ft:$321
This property sold for $321 per square foot
Sale Summary
This property sold for 21.4% above the original asking price, indicating strong buyer demand.
With only 5 days on market, this was a quick sale compared to typical market conditions.
Facts & Features
Property Overview
Property Type
Single Family Residence
Property Category
Residential
Year Built
1878
Bedrooms
4
Full Bathrooms
1
Living Area
1,322 sq ft
Total Rooms
8
Interior Features
Flooring
Wood, Vinyl, Flooring - Wood
Heating
Floor Furnace, Natural Gas
Has Heating
Yes
Cooling
Window Unit(s)
Has Cooling
Yes
Has Fireplace
No
Appliances
Gas Water Heater, Tankless Water Heater, Range, Microwave, Refrigerator, Washer, Dryer
Lake/Pond, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
Waterfront Property
No
Lot & Land
Lot Size
0.16 acres
Lot Size
6,969 sq ft
Lot Size Area
0.1600
Lot Features
Corner Lot, Level
Road Surface Type
Paved
Road Frontage Type
Public
Parking & Garage
Garage Spaces
1
Has Garage
Yes
Attached Garage
No
Has Carport
No
Total Non-Garage Parking Spaces
1
Parking Features
Detached, Storage, Paved Drive, Shared Driveway, Off Street, Paved
Covered Parking Spaces
1
Utilities & Systems
Utilities Available
for Gas Range, for Gas Oven, for Electric Dryer, Washer Hookup
Water Source
Public
Sewer
Public Sewer
Electric
Circuit Breakers, 100 Amp Service
Community & HOA
Subdivision
Silver Lake
Community Features
Public Transportation, Shopping, Park, Conservation Area, Public School
HOA
No
Senior Community
No
Financial & Tax Information
Annual Tax Amount
$5,354
Tax Year
2023
Tax Assessed Value
$448,400
Parcel Number
886009
Zoning
RES
Additional Details
Year Built Source
Public Records
Year Built Details
Actual
Attached Property
No
Disclosures
Everything is fully depreciated and needs renovation. No heat on 2nd and 3rd floor. Garage is shared with neighbor, lot line goes down the center of the garage (see plan of land in paperclip). Basement is crawl space w/footings but no foundation. None of the bedrooms have closets or overhead lights.
Exclusions
Personal Property. Buyer's Do Your Own Due Diligence To Verify Facts.
Listing Terms
Contract
Location
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Neighborhood
Silver Lake
56 Grove Ave., Wilmington MA 01887
Wilmington, MA 01887
Walkability
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Schools
School information not available
Monthly Payment Calculator
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Estimated Monthly Payment$0
Payment Breakdown
Principal & Interest$0
Property Tax$446
Homeowners Insurance$200
PMI$0
Property History
Market Insights
17.6%
Price Range
6
Total Days on Market
Property Timeline
✓
Sold
Jan 12, 2024
$425,000
Property sold
Days on Market: 6
🏠
Listed for Sale
Nov 8, 2023
$350,000
Original listing
Agent: Gwen LawsonOffice: Leading Edge Real Estate
