Fyts

Sample report — AI-generated, for illustration only

This is an AI-generated sample analysis based on public records as of 2026-05-29. The property is shown by city and ZIP code only, and identifying details have been altered to protect privacy. The report may contain errors or be outdated, and is not legal, financial, or professional advice. Independently verify all facts before relying on them.

Sample report · Wakefield, MA · Single-family

Single-Family Ranch in Wakefield, MA 01880

The memo layer from a real run of the Fyts due-diligence pipeline, published as a sample. Everything below — the verdict, flags, and verifications — is the same analysis a buyer agent receives; the underlying research appendix is omitted here and some identifying details were altered (see notice above).

Proceed with conditionsAs of 2026-05-29

PROCEED WITH CONDITIONS. This is a well-located, structurally sound single-family in a strong, safe, transit-served Wakefield neighborhood worth roughly $665k-$730k - meaningfully above the strategic ~$575,000-$625,000 list - so it is a credible buy if priced right. But the value hinges on resolving three high-severity items before you are bound: a possible buried/abandoned oil tank (strict-liability cleanup), likely unpermitted basement/bath/porch work, and trust-with-life-estate title. Keep your inspection and title contingencies, line up your attorney to clear the trust documents before P&S, and be ready to walk if the oil-tank or contamination question cannot be cleanly resolved.

Fair value estimate

$665,000-$730,000, most-likely ~$675,000-$705,000 (well above the ~$575,000-$625,000 list). Reasoning: (1) The closest comparable - a nearby 3-bed ranch of similar vintage with a finished basement, somewhat smaller than the subject - sold in the high-$600,000s in 2026; the subject's larger size, extra bath, and garage support a premium toward ~$675k-$705k. (2) Comparable-era 4-bed ranches nearby sold roughly $700,000-$775,000, but those sales were hotter and/or had larger lots or a more desirable lake-adjacent location. (3) Per-sqft: comps cluster $400-$444/sf; applying a trimmed $360-$400/sf to the ~2,000 SF marketed area implies roughly $720k-$800k, capped because a large share of that area is below-grade finished space that appraises at a discount, plus the home is dated (last renovated in the early 1980s) with a 3-bedroom main level. The ~$575,000-$625,000 list is a deliberate under-list to drive a bidding war (Wakefield norm: ~5 offers, sells ~6-14% over ask, 6-19 DOM). NOTE: the earlier-reported active competing-listing set was REFUTED on verification (most were stale/sold); current verified active single-family inventory near the subject is thin (nearby active listings clustering roughly $625,000-$775,000), which still supports a competitive, above-list outcome.

Property snapshot

Address
Wakefield, MA 01880
Type
Single-family Ranch (assessor use code 101 / ONE FAM)
Year built
1960s
Beds / baths
3 (assessor) / 3 + bonus room convertible to 4th (listing) · Assessor: 1 full. Listing: 2 full + 1 half. DISCREPANCY - verify legal bath count
Living area
Assessor finished area roughly 1,250-1,450 SF; MLS markets roughly 1,950-2,150 SF (includes an estimated 700-900 SF of below-grade finished space)
Lot size
Roughly 5,300-6,150 SF
List price
~$575,000-$625,000
Assessed value
~$500,000-$550,000
Annual tax
~$6,200 est. FY2026 (using Wakefield's published FY2026 tax rate applied to the assessed value); listing cites ~$5,700 (FY2025) - a stale pre-sale assessment that will not transfer
Last sale
In the early 1990s, nominal ($1) transfer (non-arm's-length, into a family trust) - no modern market sale
Owner
A family realty trust; three individual trustees (names withheld in this public sample), with a reserved life estate
Parcel ID
Withheld for this de-identified sample

Green flags(8)

  • ✓Near MBTA commuter rail and multiple bus routes - durable transit-oriented value driver
  • ✓FEMA Zone X (minimal flood hazard) confirmed at the parcel via direct NFHL query - no federally mandated flood insurance
  • ✓Strong, safe location: town violent crime ~half US average, property crime 70-77% below US; Wakefield offers a scenic lake and walkable downtown
  • ✓Assigned public schools (elementary, middle, and high) reportedly rate above state averages - confirm the exact school assignment and ratings with Wakefield Public Schools; a large new high school building (~$273M) is under construction district-wide
  • ✓ADU allowed by-right up to ~900 SF (interior, addition, or detached cottage); extra parking space likely waived given the short distance to transit - future income/in-law flexibility
  • ✓Tight seller's market (~6 weeks supply, 8-24 DOM) supports resale liquidity; single-family is the strongest, most resilient segment
  • ✓Municipal utility (WMGLD) supplies both gas and electric at typically below-IOU rates (~$0.15/kWh); no HOA/condo fee
  • ✓Likely unencumbered - long family hold since the 1960s, estate-planning trust structure (mortgage search returned nothing, though attorney must confirm)

Red flags(9)

high

1960s build with oil-fired heat - possible buried/abandoned underground oil tank with strict-liability cleanup exposure under MGL c.21E

Impact: Leaking/abandoned UST remediation $15k-$100k+, excluded by standard homeowners insurance; current owner is strictly liable regardless of fault

Mitigation: Inspector must look for fill/vent pipes, copper lines into slab, patched areas; demand seller produce any tank removal/closure docs (MassDEP RTN) and clean soil testing; make a clean tank/soil finding (or above-ground-only confirmation) an inspection contingency; if abandoned-in-place without documented closure, require removal+testing pre-close or walk

high

Bed/bath and square-footage discrepancy: assessor 3bd/1ba & 1,350 SF vs listing 3bd/2.5ba & 2,050 SF with finished basement + kitchenette - suggests unpermitted additional bath / basement finish / porch enclosure

Impact: Retroactive permitting cost, possible forced removal of fixtures, post-sale tax reassessment, insurance/resale problems; kitchenette could be read as an unpermitted second dwelling unit

Mitigation: Buyer's attorney files a MA public-records request with Wakefield's Inspectional Services Department for full permit history incl. final sign-offs on basement, additional bath, porch, AC, electrical, roof; require seller to deliver permits/COs or a price credit; inspect basement egress, kitchenette plumbing/electrical, porch insulation/egress

high

Trust-held title with reserved life estate(s) - Declaration of Trust and life-estate terms not yet reviewed

Impact: Can block/delay clear conveyance; may require trustee certificate, beneficiary consents, life-tenant signatures, and clearance of any MassHealth/estate-recovery claim

Mitigation: Attorney must pull the recorded deed (book/page withheld) and Declaration of Trust / Trustee's Certificate (MGL c.184 s.35) from Middlesex South, confirm trustee authority to sell, identify life tenant(s) and whether living/deceased, and confirm no MassHealth lien before signing P&S

medium

An adjacent parcel is classified for commercial/light-industrial use (auto-repair/service use), directly abutting the home; subject itself sits within a Business-zoned area as legal non-conforming residential

Impact: Potential soil/groundwater contamination migration (petroleum/solvents/metals, historic USTs); financing/redevelopment friction from Business-district zoning

Mitigation: Order a parcel-level MassDEP 21E/AUL database check on the abutting and subject parcels (RTN/AUL); consider a Phase I ESA given the abutter; attorney confirms the residential use is documented legal non-conforming and that 35A/financing is unaffected

medium

Mapped wetlands and an AE flood zone with a regulatory floodway in the vicinity, confirmed via MassGIS DEP Wetlands and FEMA NFHL

Impact: Conservation Commission (WPA 100-ft buffer) jurisdiction could constrain future yard/structure work; localized stormwater/basement flooding risk despite Zone X; potential future re-mapping

Mitigation: Confirm distance from parcel to nearest wetland/lake; consider a low-cost Preferred Risk flood policy; scrutinize basement for moisture/water intrusion on the sloped/tiered hillside lot; verify any planned work won't trigger a Notice of Intent

medium

Legacy 1960s systems: presumed lead paint, likely asbestos (pipe/boiler insulation, vermiculite, floor tile), possible galvanized plumbing, 100-amp service flagged as light for added AC + finished basement

Impact: Lead delead $8k-$30k+ if child under 6 occupies (90-day duty); asbestos abatement $5-$25/sf; galvanized repipe $2.5k-$8k+; insurers may surcharge/decline or lenders condition approval on legacy wiring/plumbing

Mitigation: Specialty inspections (licensed electrician for panel/any K&T, in-depth plumbing + water lead test, independent asbestos sampler, radon test - Middlesex is Radon Zone 1); obtain Property Transfer Lead Paint Notification; confirm insurability before removing contingencies; budget/credit-ask for repipe or panel upgrade if found

medium

A new high-school debt exclusion adds ~$1,200-$1,300/yr in property tax for most of a ~30-yr bond (to ~2058), on top of a post-sale reassessment that will raise the ~$5,700 stated bill toward the ~$6,200+ FY2026 figure

Impact: Higher carrying cost than the listing's low stated tax implies; the ~$5,700 reflects a stale assessment/possible exemption that will not transfer

Mitigation: Underwrite at ~$6,700-$7,200+/yr to be safe; confirm FY2026 bill and rate with Wakefield Assessor; do not rely on the listing tax figure

low

Pre-existing non-conforming undersized lot (roughly 5,300-6,150 SF vs the 12,000 SF SR minimum, a bit under half) and likely sub-100-ft frontage; side-yard setback unverified

Impact: Limits expansion/teardown-rebuild to same-footprint/same-GFA as-of-right; additions increasing nonconformity need ZBA finding/variance

Mitigation: Order a current survey/plot plan to confirm frontage and side-yard distances; note MGL c.40A s.6 / Bylaw 5.7 allows full rebuild after catastrophe if not substantially more nonconforming

low

Possible demolition-delay encumbrance if home is a 'listed significant building' (Wakefield Ch.126, six-month delay; $300/day + 2-yr permit ban for unpermitted demo)

Impact: Could delay any future teardown/major exterior change by 6 months

Mitigation: Confirm with Wakefield Historical Commission whether the property is on the significant-building inventory before assuming demo is quick

Offer strategy

This is a competitive, deliberately under-listed property in a fast seller's market (~5 offers, sells 6-14% over ask, often pending in 8-24 days; multiple open houses drew strong turnout in the opening days). Expect to compete near $675k-$715k. Use a clean, fast offer with a moderate escalation clause capped around your max (~$710-725k) and proof of funds/strong pre-approval. Keep earnest money standard (~$1,000 with offer, increasing to ~5% at P&S) - do NOT escalate deposit to win. CRITICAL: Do NOT waive the home inspection. Given the unpermitted-work, oil-tank, asbestos, and legacy-systems exposure on a 1960s home with trust title, a waived inspection here is high-risk. If you must strengthen the offer, use a pre-offer (pre-P&S) inspection or an information-only inspection with a tight 5-7 day window rather than full waiver, and keep financing + title contingencies. Plan ~10-14 days from accepted offer to P&S - have your attorney lined up now to review the trust documents before P&S signing.

Negotiation points(7)

  • Anchor on the comp-derived value (~$675-705k), not the ~$575,000-$625,000 list bait; do not overpay above ~$730k where 4-bed/higher-finish comps top out
  • If permits for basement finish / additional bath / porch are missing, ask for a credit covering retroactive permitting and any required corrections (often $5k-$20k) or seller-completed permitting before close
  • If a buried/abandoned oil tank or contamination is found, require seller-funded removal + clean soil testing (potential $15k-$100k+) as a condition - this is a walk-away item if unresolved
  • Asbestos in friable insulation/vermiculite: negotiate a credit toward abatement ($5-$25/sf; whole-house can reach $20k-$30k) if disturbance is needed
  • Galvanized repipe (~$2.5k-$8k) or 100-amp panel upgrade credit if inspection confirms legacy systems
  • Factor the true tax burden (~$6,700-$7,200+/yr after reassessment + HS debt exclusion ~$1,200-$1,300/yr) into your max bid
  • Reserve final water-meter reading and Municipal Lien Certificate clearance at seller cost (standard MA practice)

Inspection focus(10)

  • Probe for a buried/abandoned underground oil tank given pre-1970 oil-heat build - check for fill/vent pipes, copper supply lines into the slab, patched soil; demand tank closure documentation
  • Verify the actual cooling system - the listing describes central air conditioning, while MLS mechanical data indicates a ductless mini-split; confirm coverage and condition
  • Permit verification on finished lower level, kitchenette, additional bathroom, and enclosed porch - egress, moisture, legality (and that kitchenette is not a 2nd dwelling unit)
  • Basement/foundation moisture and water intrusion on the sloped/tiered lot with concrete-perimeter foundation; check both fireplaces/chimneys/flues
  • Electrical: 100-amp panel capacity vs added AC + finished basement; have a licensed electrician confirm no active knob-and-tube and adequate service
  • Plumbing: identify galvanized vs copper/PEX supply lines and run a water lead test; check water service-line material on Wakefield's LCRR address map
  • Asbestos sampling of pipe/boiler insulation, attic vermiculite (assume Zonolite until tested), and 9x9 floor tile/mastic before any disturbance
  • Radon test (Middlesex County is EPA Zone 1 - highest risk); mitigation typically ~$1,000-$2,500 if >=4 pCi/L
  • Roof age/condition (shingle), oil burner age/remaining life, and window age (likely original or aged 1960s units)
  • Confirm legal bedroom count and whether the bonus room can be permitted as a 4th bedroom

Recommended contingencies(9)

  • ▢Home/pest inspection contingency (5-10 day window) - do not waive given the home's profile
  • ▢Financing/mortgage commitment contingency with a clear commitment deadline
  • ▢Clear and marketable title contingency - especially important given trust + life-estate title
  • ▢Radon testing contingency (Middlesex = Zone 1)
  • ▢Lead paint inspection right (statutory 10-day for pre-1978; mandatory Property Transfer Lead Paint Notification)
  • ▢Oil tank / environmental contingency tied to UST and the abutting parcel (clean soil/closure docs or 21E/Phase I result)
  • ▢Permit/CO verification contingency for basement, additional bath, porch, AC
  • ▢Insurability confirmation (carrier acceptance of legacy wiring/plumbing) before removing contingencies
  • ▢Smoke/CO certificate from Wakefield FD and final water/sewer meter reading + MLC at closing (seller obligations)

Open questions(9)

  • Pull the controlling deed (Middlesex South book/page withheld) AND the Declaration of Trust / Trustee's Certificate for the Realty Trust - confirm trustee authority to sell, beneficiaries, and life-estate terms (note 1960s origin deed may predate the 1974 online index)
  • Who holds the reserved life estate(s), and is any life tenant living/deceased? Must they sign the deed? Any MassHealth/estate-recovery claim?
  • Run Middlesex South grantor/grantee rundown for mortgages, federal/state tax liens, judgment/mechanic's liens, lis pendens against the trust and its trustees; check for recorded Declaration of Homestead (note: trust property IS homestead-eligible; declared exemption now $1,000,000 as of Aug 2024)
  • Obtain Wakefield Municipal Lien Certificate (unpaid taxes, water/sewer, betterments) from the Collector
  • MassDEP 21E release (RTN) and AUL search for the abutting parcel and the property; assess need for Phase I ESA
  • Full Wakefield ISD permit history with final inspections/COs for basement finish, additional bath, porch enclosure, AC, electrical, roof
  • Confirm exact zoning district/code post-2025 recodification, frontage, and side-yard setbacks via official map + current survey
  • Confirm FY2026 tax bill and $11.75 rate with Assessor; confirm water service-line material on Wakefield's LCRR map; confirm parcel is on municipal sewer (almost certain - no Title 5)
  • Verify whether the property is on the Historical Commission significant-building / demolition-delay inventory

This is research assistance, not legal/financial/real-estate advice. Verify all material facts with primary sources and a licensed MA attorney before acting.

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