1 Beds
1 Baths
672 Sqft
Note: This property is not currently for sale or rent.
Income Opportunity---Live in one and rent the other. Gambrel styled 3 bedroom home with additional 672 sq.ft., air conditioned one bedroom apartment above a separate 2 car, heated and air conditioned garage. Even an upgraded Title 5, five bedroom septic system! Privately sited on 1.5 acres with mature trees and plantings. Fabulous investment opportunity or home business option!!! Enjoy all that West Tisbury has to offer, especially pristine Lambert's Cove Beach.
Beds1
Baths1
Bought1/9/2018
Lot1.50 ac
Area672 ft²
Price/ft²$1,964
Built1984
StyleConventional
TypeMultiple Houses on one parcel
Central A/C0%
HeatElectrc BB
FuelElectric
Central VacFalse
Stories2
FlooringCarpet
RoofGambrel
ExteriorWood Shing
Parcel017 097 2
Our Real Estimate™ is an estimate of the current market value of a home. To arrive at an estimate, the most recent certified appraisal is marked to market by considering when the most recent certified appraisal was performed and the weighted sale-price(SP)-vs-appraised-value(AV) ratios of all subsequently sold, comparable properties within the same zip code.
The formula for the estimate follows the sales comparison (market) approach which is an approach based on the principles of supply and demand (principle of change) and the principle of substitution. The principle of substitution assumes that a prudent person will pay no more for a property than it would cost to purchase a comparable substitute property. A local real estate expert should be consulted to refine the Real Estimate as s/he will consider factors that are impossible to capture in a computer algorithm.
The certified market value of 206 Oak Lane on January 1, 2023 was $1,319,800. Subsequently, a total of 34 comparable properties have been sold. The weighted SP/AV ratio of those properties is 1.16. Multiplying the most recent certified appraised value of $1,319,800 by the weighted SP/AV ratio of properties sold subsequent to the most recent certified appraisal yields a Real Estimate of $1,527,845.
The most recent certified appraisal estimated that the value of the building was 19% of the total value of the entire property and that the land was worth 46%. If we assume the same ratio of the value of the building and land to the total value of the property, the current estimated value of the building is $290,913 and the value of the land is estimated at $701,989.
Similarly, we estimate that the current Owners’ Equivalent Rent (OER) is $5,093 per month. Owners’ equivalent rent (OER) is the amount of rent that would need to be paid to substitute a currently owned house as a rental property. This value is also referred to as rental equivalent. It is a commonly cited measure that provides a gauge for changes in real estate market values.
We have used an algorithm that applies an OER factor of between 4 and 7.5% of the current market value of a property, depending on the value of the property, to arrive at the OER. An OER answers the question, "If someone were to rent your home today, how much would it rent for monthly, unfurnished and without utilities?" A local real estate expert should be consulted to refine the OER.
| Year | Total | Building | Land | Add ons | Change |
|---|---|---|---|---|---|
| 2024 | $1,319,800 | $251,300 | $606,400 | $462,100 | 59.65 % |
| 2023 | $826,700 | $234,300 | $577,600 | $14,800 | -11.24 % |
| 2022 | $931,400 | $556,700 | $361,100 | $13,600 | 14.87 % |
| 2021 | $810,800 | $502,600 | $294,500 | $13,700 | 5.70 % |
| 2020 | $767,100 | $468,200 | $287,500 | $11,400 | 0.00 % |
| 2019 | $767,100 | $468,200 | $287,500 | $11,400 | 2.81 % |
| 2018 | $746,100 | $463,300 | $271,300 | $11,500 | 10.66 % |
| 2016 | $674,200 | $421,400 | $248,100 | $4,700 | 0.00 % |
| 2015 | $674,200 | $421,400 | $248,100 | $4,700 | -1.82 % |
| 2014 | $686,700 | $379,100 | $302,600 | $5,000 | -2.26 % |
| 2013 | $702,600 | $379,100 | $318,500 | $5,000 | -1.93 % |
| 2012 | $716,400 | $379,100 | $332,300 | $5,000 | 5.03 % |
| 2011 | $682,100 | $331,700 | $345,800 | $4,600 | -3.37 % |
| 2010 | $705,900 | $337,300 | $364,000 | $4,600 | -4.66 % |
| 2009 | $740,400 | $371,800 | $364,000 | $4,600 | 0.00 % |
Assessors must value all real and personal property within the community to their full and fair cash value. Mass appraisal is the process used by every Massachusetts city and town to create the property appraisal. It differs from the more well-known “bank” or fee appraisal. Although the appraisal concepts are the same and the results similar, the process is different. No particular sale or group of sales is used to determine the value of a property, but all of a certain calendar year’s sales are included in the analysis that set the parameters for the next fiscal year.
The current fiscal year is 2024 and the assessed values are of January 1, 2023.
The current certified assessed value of the 206 Oak Lane is as follows. The total value is $1,319,800. The building, if any, is valued at $251,300. The land is valued as $606,400.
Other improvements to the property are valued as $462,100.
| Date | Price |
|---|---|
| August 15, 2000 | $50,000 |
| December 19, 1997 | $260,000 |
The concerned Registry of Deeds is responsible for recording all real estate transactions and is the source of the following information on sold properties. The table below lists key information about the 10 most recent Arm’s Length Sales in proximity to 206 Oak Lane.
In real estate, an arm's length transaction is when the buyer and seller each act in their own self-interest to try to get the best deal they can. In most sales, a seller is trying to make a large profit, while the buyer is trying to pay the least amount of money possible. To resolve this discrepancy, both sides agree to meet in the middle and sell the home for its fair market value. In fact, this is how most real estate transactions play out.
| Date | Price | Distance | Address |
|---|---|---|---|
| 11/08/2024 | $1,090,000 | 2.6 miles | 10 Danls Way, West Tisbury |
| 11/07/2024 | $1,115,000 | 0.8 miles | 43 Skiffs Lane, West Tisbury |
| 11/01/2024 | $3,950,000 | 3.6 miles | 201 Thumb Point Road, West Tisbury |
| 10/17/2024 | $1,800,000 | 3.2 miles | 7 Parsonage Woods Road, West Tisbury |
| 10/03/2024 | $250,000 | 0.3 miles | 210 Skiffs Lane, West Tisbury |
| 09/30/2024 | $2,765,000 | 2.0 miles | 23 Alex Way, West Tisbury |
| 09/24/2024 | $1,360,000 | 2.6 miles | 46 Crow Hollow Road, West Tisbury |
| 09/05/2024 | $1,350,000 | 2.8 miles | 188 Waldrons Bottom Road, West Tisbury |
| 08/05/2024 | $2,280,000 | 2.2 miles | 230 Pond Road, West Tisbury |
| 07/19/2024 | $1,500,000 | 2.0 miles | 5 Husebys Mountain Road, West Tisbury |
The following list of for sale properties are provided by the Cape Cod and Islands Multiple Listing Service and Cape Cod and Islands Association of REALTORS. The list includes the 10 for sale properties in closest proximity to 206 Oak Lane.
| Date | Price | DOM | Address |
|---|---|---|---|
| 06/17/2021 | $849,000 | 5 | 47 Counting House Way Falmouth MA 02540 |
| 06/15/2021 | $995,000 | 7 | 23 Warner Street Tisbury MA 02568 |
| 06/04/2021 | $649,000 | 18 | 17 Mcgregor Road Woods Hole MA 02543 |
| 05/27/2021 | $949,000 | 26 | 59 Elm Arch Way Falmouth MA 02540 |
| 05/24/2021 | $849,900 | 27 | 2 Greengate Road Falmouth MA 02540 |
| 05/20/2021 | $3,495,000 | 33 | 165 Nobska Road Woods Hole MA 02543 |
| 05/19/2021 | $649,000 | 34 | 12 Mill Street Unit 17 C Edgartown MA 02539 |
| 04/08/2021 | $1,195,000 | 55 | 251 Woods Hole Road Falmouth MA 02540 |
| 01/29/2021 | $725,000 | 144 | 52 Landfall Falmouth MA 02540 |
| 10/06/2020 | $1,495,000 | 259 | 3 Little Harbor Road Woods Hole MA 02543 |
The average commute time to work in the U.S. is 25.4 minutes, according to the Census Bureau. Over 10 million Americans travel more than an hour each way to work.
As the minutes add up, so do travel costs and indirectly the value of a home. According to research by Lifehacker, each mile you live from work adds $795 per year to your commuting costs. So, for example, a 30-minute commute saves the homeowner a whopping $23,850 annually comparted to a 1-hour commute.
Click on the thumbnails below to map a route to the closest highway exit, park ‘n ride or airport. The green marker is placed on and the red marker is placed on the destination.
A growing number of studies have determined transport accessibility levels to healthcare using geographical information system (GIS) techniques, by mapping car and public transport travel times and distances to healthcare facilities. Proximity to health care services has a significant impact on the value of a home.
Click on the thumbnails below to map a route to the closest hospital, long-term care facility or community health center. The green marker is placed on and the red marker is placed on the destination.
The location of the nearest fire and police stations affects the perceived value of a home. Nearby public safety services add a valuable sense of neighborhood security. Also, a firehouse nearby might well mean lower homeowners insurance premiums.
Click on the thumbnails below to map a route to the closest police and fire stations. The green marker is placed on and the red marker is placed on the destination.
Open space provides recreational areas for residents and helps to enhance the beauty and environmental quality of neighborhoods. There have been a number of studies on the impact of open space preservation on the value of residential property. Most studies have found that preserving open space land generally, but not always, increases the property value of nearby homes. The studies use a variety of methods to determine this, and consider such variables as the type, location, and use of the open space, and the residential property in question.
Click on the thumbnails below to map a route to potential and certified vernal pools and to natural communities. The green marker is placed on and the red marker is placed on the destination.
Outdoor recreation is a powerful economic engine, generating more than $887 billion in consumer spending in the United States. It also benefits public health, quality of life, property values, and the local tax base, generating $59.2 billion in local and state tax revenue.
Click on the thumbnails below to map a route to outdoor recreational resources. The green marker is placed on and the red marker is placed on the destination.
Hazardous waste can have serious ramifications on the value of the subject property, not to mention the values of surrounding properties and neighborhoods.
Click on the thumbnails below to map a route to the closest hazardous waste site and underground storage tank. The green marker is placed on and the red marker is placed on the destination.
Martha's Vineyard Charter School in West Tisbury, Massachusetts (MA) serves 177 students in grades KG-12. Find data, reviews and news about this school.
West Tisbury Elementary SchoolWest Tisbury Elementary School in West Tisbury, Massachusetts (MA) serves 298 students in grades PK-8. Find data, reviews and news about this school.
Martha's Vineyard Regional High SchoolMartha's Vineyard Regional High School in Oak Bluffs, Massachusetts (MA) serves 655 students in grades 9-12. Find data, reviews and news about this school.
The late Lord Harold Samuel, a real estate tycoon in Britain, coined the expression: ‘There are three things that matter in property: location, location, location’ and it is as true today as it was 100 years ago. In an effort to help you better understand the surroundings of we make use of the concerned Blocks and Block Groups, as defined by the U.S. Census Bureau, to group nearby properties and then analyze and summarize their characteristics.
The Block that 206 Oak Lane West Tisbury MA 02575 is a part of is comprised of 100 properties of which 95 (95%) are residential properties.
The property with the longest running occupancy, by the current owner, is 297 Great Plains Road West Tisbury MA 02575 which has been owned by the same owner for 38 years. The value of that property has appreciated 4,569% since it was purchased.
Conversely, the most recently purchased property in the neighborhood was 12 Lily Farm Road West Tisbury MA 02575. It was purchased on 07/03/2023 for $1,625,000 and has an estimated market value of $1,275,597.
Block Map
2 Net Living Area (NLA) in square feet
Property Types
| Property Type | Count |
|---|---|
| Residential | 95 |
| Multiple Use | 4 |
| Tax Exempt | 1 |
Property Sub-Types
| Total Value | ||||
|---|---|---|---|---|
| Count | Property Sub-Type | Min | Max | Avg |
| 73 | Residential, single family | $268,600 | $971,600 | $558,543 |
| 13 | Multiple Houses on one parcel | $490,700 | $899,200 | $700,130 |
| 6 | Land, developable | $175,200 | $309,600 | $258,916 |
| 2 | Land, undevelopable | $18,900 | $38,100 | $28,500 |
| 1 | Accessory Land with Improvement | $253,500 | $253,500 | $253,500 |
| 1 | Improved, Municipal Public Safety | $19,800 | $19,800 | $19,800 |
Block Group Map
Turn Over
Real estate turnover is the frequency as which homes in a given neighborhood sell and is an important characteristic of the “churn” within a neighborhood. Turnover rates vary from location to location. According to the National Association of Home Builders, the average homeowner plans to move every 13 years, with younger first-time homebuyers relocating slightly more frequently.
The Block Group that 206 Oak Lane West Tisbury MA 02575 is a part of is comprised of 1,851 properties of which 1,577 (85%) are residential properties. Over the last 10 years, the annual rate of turnover has been as follows:
| Year | Turnover (%) |
|---|---|
| 2024 | 2% |
| 2023 | 2% |
| 2022 | 2% |
| 2021 | 7% |
| 2020 | 6% |
| 2019 | 5% |
| 2018 | 5% |
| 2017 | 5% |
| 2016 | 5% |
| 2015 | 4% |
The typical property in this neighborhood has a value of $680,800. The typical property in this neighborhood as 1,792 ft² of net living area and a land size of 0.00 ac.
Similar Properties (1)
| Min | Max | Avg | Subject Property | Difference | |
|---|---|---|---|---|---|
| Worth1 | $680,800 | $680,800 | $680,800 | $1,319,800 | 94 % |
| Living Area2 | 1,792 ft² | 1,792 ft² | 1,792 ft² | 672 ft² | -63 % |
| Years Since Built | 49 | 49 | 49 | 40 | -100.0 % |
| Years of Ownership | 37 | 37 | 37 | 7 | -30 |
2 Net Living Area in square feet
Property Types
| Property Type | Count |
|---|---|
| Residential | 1,577 |
| Tax Exempt | 153 |
| Multiple Use | 71 |
| Commercial | 30 |
| Industrial | 11 |
| Agricultural/Horticultural | 8 |
| Recreational Property | 1 |
Property Sub-Types
| Total Value | ||||
|---|---|---|---|---|
| Count | Property Sub-Type | Min | Max | Avg |
| 975 | Residential, single family | $177,255 | $12,704,500 | $822,473 |
| 195 | Multiple Houses on one parcel | $378,600 | $24,533,900 | $1,459,209 |
| 178 | Land, developable | $53,600 | $5,730,400 | $714,876 |
| 111 | Land, undevelopable | $900 | $2,310,000 | $117,144 |
| 71 | Land, potentially developable | $19,900 | $3,335,700 | $118,987 |
| 53 | Vacant, Tax Title/ Treasurer | $12,300 | $290,700 | $38,283 |
| 29 | Accessory Land with Improvement | $32,600 | $2,181,700 | $645,972 |
| 16 | Vacant, Conservation | $20,300 | $9,290,100 | $671,487 |
| 15 | Vacant, Conservation Organizations | $9,900 | $40,552,700 | $4,818,273 |
| 15 | Vacant, Selectmen or City Council | $22,500 | $763,200 | $328,533 |
| 15 | Vacant, District | $8,300 | $15,246,700 | $1,539,446 |
| 13 | Improved, Municipal Public Safety | $17,000 | $3,528,600 | $408,646 |
| 12 | Residential, two family | $446,900 | $903,800 | $656,825 |
| 7 | Improved, County or Regional, Deeds or Administration | $243,600 | $1,418,800 | $505,028 |
| 7 | Bus Transportation Facilities and Related Properties | $444,800 | $700,600 | $554,885 |
| 6 | Potentially Developable Land | $142,300 | $757,000 | $335,733 |
| 6 | General Office Buildings | $209,800 | $1,054,800 | $661,950 |
| 4 | Function Halls, Community Centers, Fraternal Organizations | $386,900 | $1,297,400 | $680,225 |
| 4 | Pasture | $300 | $1,400 | $725 |
| 4 | Discount and Department Stores | $263,300 | $1,375,400 | $744,500 |
| 3 | Improved, Education | $326,000 | $13,160,400 | $5,263,833 |
| 2 | Undevelopable Land | $14,900 | $21,500 | $18,733 |
| 2 | Radio, Television Transmission Facilities | $414,300 | $950,100 | $682,200 |
| 2 | Truck Crops | $1,600 | $2,700 | $2,150 |
| 2 | Improved, Selectmen or City Council | $3,027,000 | $4,340,900 | $3,683,950 |
| 2 | Other Storage, Warehouse and Distribution facilities | $57,900 | $1,409,200 | $733,550 |
| 2 | Apartment, 4 To 8 units | $386,700 | $1,002,600 | $694,650 |
| 2 | Recreation, Active Use | $356,500 | $28,871,100 | $14,613,800 |
| 2 | Mobile Home | $326,900 | $376,400 | $351,650 |
| 2 | Church, Mosque, Synagogue, Temple, etc. | $915,000 | $992,100 | $953,550 |
| 2 | Rectory or Parsonage, etc. | $557,000 | $1,081,900 | $819,450 |
| 2 | Housing Authority | $583,900 | $1,508,000 | $1,045,950 |
| 1 | Miscellaneous Public Services | $811,300 | $811,300 | $811,300 |
| 1 | Archery, Billiards, other indoor facilities | $1,234,500 | $1,234,500 | $1,234,500 |
| 1 | Gymnasiums and Athletic Clubs | $683,800 | $683,800 | $683,800 |
| 1 | Tennis and/or Racquetball Clubs | $1,708,600 | $1,708,600 | $1,708,600 |
| 1 | Agricultural/Horticultural Land not included in Chapter 61A | $329,700 | $329,700 | $329,700 |
| 1 | Sand and Gravel | $1,104,900 | $1,104,900 | $1,104,900 |
| 1 | Bank Buildings | $1,293,500 | $1,293,500 | $1,293,500 |
| 1 | Undevelopable Land | $14,900 | $21,500 | $18,733 |
| 1 | Electric Generation Plants | $335,400 | $335,400 | $335,400 |
| 1 | Field Crops | $800 | $800 | $800 |
| 1 | Auto Repair Facilities | $584,100 | $584,100 | $584,100 |
| 1 | Wet land, scrub land, rock land | $100 | $100 | $100 |
| 1 | Department of Conservation and Recreation, Division of State Parks and Recreation | $74,243,104 | $74,243,104 | $74,243,104 |
| 1 | Farm Buildings | $28,200 | $28,200 | $28,200 |
| 1 | Commercial Greenhouses | $572,100 | $572,100 | $572,100 |
| 1 | Elementary Level | $623,700 | $623,700 | $623,700 |
| 1 | Residential, three family | $396,800 | $396,800 | $396,800 |
| 1 | Condominium | $436,100 | $436,100 | $436,100 |