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Salem 01970 South Salem
1 Barnes Ave
$285,000
● House - Off Market

1 Barnes Ave

Salem, MA 01970
bedrooms
2 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,093 Ft²
$413,193
RealtyHop Estimate
42.53%
Since Aug 1, 2019
MA-Boston
Primary Model

About This Property

Attention contractors and handymen! Classic cape style home located in a quiet neighborhood being sold as is, in the beautiful coastal town of Salem. This is a great opportunity for someone looking for a fixer upper. Home requires some TLC, however bring your creativity and create a dream home, in a dream neighborhood! This home is priced significantly lower than appraised value!! Don't wait, owner anxious!!
Unit Size
1,093 Ft²
Days on Market
-
Land Size
0.30 acres
Price per sqft
$265
Property Type
House
Property Taxes
$439
HOA Dues
-
Year Built
1948

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 4 months ago (MLSPIN #72478061)

Price History

Date / Event Date Event Price
Jun 16, 2020 Sold
Premium
Sold
Jul 24, 2019 Sold
Premium
Sold
Apr 6, 2019 Listed by Mass. Real Estate Solutions, LLC $289,900
Listed by Mass. Real Estate Solutions, LLC

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1948
  • Effective Year Built: 1948
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 4
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 838
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 12

    Dimensions

  • Lot Size Square Feet: 12,872
  • Total Building Area: 1,385
  • Gross Building Area: 2,405
  • Building Area: 1,385
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,385
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000296
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Salem School District
  • School Tax School District: SALEM SD
  • Census Tract: 204701

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:07 L:0014
  • Lot: 14
  • Municipality: SALEM
  • Latitude: 42.4955
  • Longitude: -70.9299

    Address

  • Full Address: 1 Barnes Ave
  • Address - House Number: 1
  • Address - Street Name: Barnes
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C030
  • 4-Digit Zip Code: 1705
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $574,600

    Appraisal Valuation

  • Standard Deviation: 0.1844
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 75
  • Final Value: 582,993
  • High Value: 690,489
  • Low Value: 475,496

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $494,500
  • Assessed Land Value: $211,800
  • Assessed Improvements Value: $282,700

    Sales

  • Current Sale Contract Date: Jun 04, 2020
  • Current Sale Recording Date: Jun 16, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200616000150
  • Previous Sale Recording Date: Jul 24, 2019
  • Previous Sale Contract Date: Jul 19, 2019
  • Previous Sale Amount: $285,000
  • Previous Sale Document Type: O
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About South Salem

Stats & Trends

Median Asking:

$619,500

Sale Price/ft²

$370

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2194 ft²

Average Home Age

88.2 years

Currently For Sale

46 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 160 Federal St, Salem, MA, 01970

$1,725 /mo

  • 1 Bed
  • 1 Bath
160 Federal St, Salem, MA, 01970 Listing by Rick Rivera

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72478061

Frequently Asked Questions

When was property at 1 Barnes Avenue built and last sold?
The property at 1 Barnes Avenue was built in 1948 and last sold on Jun 4, 2020 for $390,000.
How much is this home worth?
The estimated value of the home located at 1 Barnes Avenue is $298,344.
What are some comparable homes to 1 Barnes Avenue?
There are currently no comparable homes to 1 Barnes Avenue.
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