Score
0Lawrence, MA
186 Exchange St
368K
4 beds
2 baths
1,424 sqft
4 bd • 2 ba • 1,424 sf
Educational Use Only — NOT an appraisal or professional advice. — NOT professional advice. See terms
AI Property Analysis
0:000:00 / 0:00
List Price
$367,500
Price/Sq.Ft
$258
Year Built
1900
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Convenient location: The property is conveniently located 10 minutes from The Loop shopping center in Methuen, 30 minutes from Boston via Route 93, and 10 minutes from Broadway in Salem, NH. This provides easy access to shopping, entertainment, and transportation.
• Proximity to public schools and public transit: The property is 5 minutes away from multiple public schools and within walking distance to multiple public transit bus routes, making it convenient for families and commuters.
• Outdoor space: The property features a spacious patio and back lot, providing ample outdoor space for relaxation and recreation.
• Number of bedrooms: The property has four full bedrooms and one additional room that can serve as a bedroom or office, making it suitable for larger families or those who need extra space.
• Recently renovated upstairs bathroom: The upstairs bathroom has been recently renovated, which is a positive feature for potential buyers.
• Minimal flood and fire risk: The property has a minimal flood risk (1/10) and fire risk (1/10), which can result in lower insurance costs and reduced risk of property damage.
The Bad
• Need for aesthetic updates: The property description mentions the need for aesthetic updates (kitchen, floors, paint), which can add to the overall cost of ownership. Buyers should factor in these renovation costs when making their decision.
• Average to below-average school ratings: The nearby schools have average to below-average ratings (Arlington Middle School: 4/10, Lawrence High School: 2/10, Community Day Arlington: 2/10), which may be a concern for families with children.
• Major heat and wind risks: The property has a major heat risk (5/10) and wind risk (6/10), which can result in higher energy bills for cooling and heating, as well as increased insurance costs due to potential wind-related damages.
The Ugly
• Fluctuating property values and taxes: Lawrence has historically lower property values than surrounding areas, which can be attractive, but research recent trends and understand the property tax rates, which can fluctuate. The property's sales history shows significant price increases and decreases over the years.
• Crime rates: While Lawrence has made strides in reducing crime, it's important to research specific neighborhoods and understand the current safety situation. Check crime statistics and talk to residents.
• Combined sewer overflows (CSOs): Like many older cities, Lawrence has a combined sewer system that can overflow during heavy rain, leading to polluted runoff into the Merrimack River. This can impact river recreation and potentially property values in affected areas. Inquire about CSO mitigation efforts in specific locations.
• Older housing stock: Lawrence has many older homes with potential charm but also potential maintenance issues. Be prepared for renovations and updates, and get a thorough inspection. The property was built in 1900, so it may require significant maintenance and repairs.
Who is this property for?
These details are presented solely for educational purposes and are not meant to steer or limit any prospective buyer.
Best For
• First-time homebuyers seeking an affordable entry point into the market: The property offers a relatively low price point compared to surrounding areas, making it accessible for those with limited budgets. The estimated monthly costs, including mortgage, insurance, and taxes, should be carefully evaluated to ensure affordability.
• Buyers comfortable with aesthetic updates and minor renovations: The property is described as 'livable as is' but would benefit from aesthetic updates. Buyers who are willing to invest time and resources into renovations will find it suitable.
• Commuters needing access to Boston and nearby shopping centers: The property's location provides convenient access to Boston via Route 93, as well as proximity to shopping centers like The Loop in Methuen and tax-free shopping in Salem, NH. Public transportation options are also within walking distance.
• Buyers prioritizing space and number of bedrooms: The property features four bedrooms and an additional room that can serve as a bedroom or office, making it suitable for buyers who need multiple rooms.
Not For
• Buyers seeking a fully renovated, move-in-ready property: The property requires aesthetic updates and renovations, which may not be suitable for buyers who prefer a turnkey home.
• Buyers prioritizing top-rated schools: The nearby schools have average to below-average ratings (Arlington Middle School: 4/10, Lawrence High School: 2/10, Community Day Arlington: 2/10), which may not meet the needs of buyers who prioritize highly-rated schools.
• Risk-averse buyers concerned about crime rates: While Lawrence has made strides in reducing crime, it's essential to research specific neighborhoods and understand the current safety situation. Buyers who are highly sensitive to crime rates may find this location less appealing.
• Buyers with limited tolerance for heat and wind risks: The property has a major heat risk (5/10) and wind risk (6/10), which may result in higher energy bills for cooling and heating, as well as increased insurance costs due to wind-related damages.
Demographics
Area Median Income
$47,527
Property History
Price History
Ownership Timeline
$0Cash Purchase
Dec 19, 2023Francisco CuevasFrancisco Cuevas, Clarence Sawyer
Quit Claim Deed
Non-Arm's Length Transactions
$80,000Financed
Jan 1, 1970Us BkFrancisco Cuevas
Deed
Standard Sale (Purchase/Resales)
$44,800Cash Purchase
Jan 1, 1970Julio Montanez, Us Bank Na TrUs Bank Na Tr
Foreclosure
Foreclosure
$0Cash Purchase
Jan 1, 1970Julio Montanez, Brenda MontanezJulio Montanez
Deed
Non-Arm's Length Transactions
$17,580Financed
Jan 1, 1970David ClericuzioJulio Montanez
Deed
Standard Sale (Purchase/Resales)
Property Taxes
$3,035
2024 Tax Assessment
15.1%from previous year
Assessed Value$328,100
Tax Rate0.93%
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
2.0/10
Below AverageHigh
2.0/10
Below AverageFinancials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,188
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$367,500
Price/sqft
$258
Layout
4 bd•2 ba
Days on market
1 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$462,500
20.5%
Your price is 20.5% below average
Median Price
$450,000
18.3%
Based on 6 recent sales
Price per Sq.Ft
$336
23.2%
Your price is 23.2% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 7 Hanlon Ct, Lawrence, MA 01841 | $425,000 | 1,296 | 4 | 2 | $32827.1% | 12/7/2024 |
| 72 Tudor, Methuen, MA 01844 | $450,000 | 1,283 | 3 | 2 | $35135.9% | 11/14/2024 |
| 92 Tenney St #A, Methuen, MA 01844 | $450,000 | 1,540 | 3 | 2 | $29213.2% | 10/30/2024 |
| 7 Magnolia Rd, Methuen, MA 01844 | $545,000 | 1,302 | 3 | 2 | $41962.2% | 10/28/2024 |
| 173 Jackson St, Methuen, MA 01844 | $425,000 | 1,404 | 3 | 1 | $30317.3% | 11/13/2024 |
| 76 Lawrence Street, Methuen, MA 01844 | $480,000 | 1,484 | 3 | 1 | $32325.3% | 10/17/2024 |
7 Hanlon Ct, Lawrence, MA 01841
Price: $425,000
Sq.Ft: 1,296
Beds/Baths: 4/2
$/Sq.Ft:
$32827.1%
Sale Date: 12/7/2024
72 Tudor, Methuen, MA 01844
Price: $450,000
Sq.Ft: 1,283
Beds/Baths: 3/2
$/Sq.Ft:
$35135.9%
Sale Date: 11/14/2024
92 Tenney St #A, Methuen, MA 01844
Price: $450,000
Sq.Ft: 1,540
Beds/Baths: 3/2
$/Sq.Ft:
$29213.2%
Sale Date: 10/30/2024
7 Magnolia Rd, Methuen, MA 01844
Price: $545,000
Sq.Ft: 1,302
Beds/Baths: 3/2
$/Sq.Ft:
$41962.2%
Sale Date: 10/28/2024
173 Jackson St, Methuen, MA 01844
Price: $425,000
Sq.Ft: 1,404
Beds/Baths: 3/1
$/Sq.Ft:
$30317.3%
Sale Date: 11/13/2024
76 Lawrence Street, Methuen, MA 01844
Price: $480,000
Sq.Ft: 1,484
Beds/Baths: 3/1
$/Sq.Ft:
$32325.3%
Sale Date: 10/17/2024
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