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Salem 01970 South Salem
1 Parallel Street
Photo of 1 Parallel Street

1

Map

$349,900
● House - Off Market

1 Parallel Street

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,800 Ft²
$1,719
Est. Monthly

About This Property

PRICE REDUCTION! New construction - Open concept living offers spacious foyer leading into large living room, dining room, and maple kitchen with peninsula plus granite countertops and stainless appliances. Walk-in coat closet & expandable bath. Second floor offers 3 bedrooms including master with double closets. Full bath and large laundry room. Gleaming hardwood throughout. Two car driveway plus ample on street parking. Beautiful setting overlooking Rosie's Pond and Clay Brook.
Unit Size
1,800 Ft²
Days on Market
-
Land Size
0.48 acres
Price per sqft
$194
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
2010

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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: 29 days ago (MLSPIN #71228696)

Price History

Date / Event Date Event Price
Feb 22, 2023 Sold
Premium
Sold
Jan 24, 2023 In contract -
In contract
Jan 15, 2023 Relisted $330,000
Relisted
Jan 13, 2023 In contract -
In contract
Jan 5, 2023 Listed by Lovely Realty $549,999
Listed by Lovely Realty
Show More

Property Highlights

Parking Available
Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 2010
  • Effective Year Built: 2010
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 26,001
  • Total Building Area: 1,680
  • Gross Building Area: 1,880
  • Building Area: 1,680
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,680
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000597
  • 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: 204102

Zoning

  • Zoning: R

Geography

  • Parcel: SALE M:23 L:0077
  • Lot: 77
  • Municipality: SALEM
  • Latitude: 42.5048
  • Longitude: -70.8994

    Address

  • Full Address: 1 Parallel St
  • Address - House Number: 1
  • Address - Street Name: Parallel
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C099
  • 4-Digit Zip Code: 2946
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $656,800

    Appraisal Valuation

  • Standard Deviation: 0.1736
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 637,052
  • High Value: 747,853
  • Low Value: 526,252

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $565,200
  • Assessed Land Value: $187,600
  • Assessed Improvements Value: $377,600

    Sales

  • Current Sale Contract Date: Feb 22, 2023
  • Current Sale Recording Date: Feb 22, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20230222002360
  • Previous Sale Recording Date: Sep 14, 2021
  • Previous Sale Contract Date: Sep 01, 2021
  • Previous Sale Amount: $505,000
  • 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:

$619,000

Sale Price/ft²

$368

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2218 ft²

Average Home Age

86.1 years

Currently For Sale

44 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: 29 days ago
Data Source: MLS PIN, MLS# 71228696

Frequently Asked Questions

When was property at 1 Parallel Street built and last sold?
The property at 1 Parallel Street was built in 2010 and last sold on Feb 22, 2023 for $553,000.
How much is this home worth?
The estimated value of the home located at 1 Parallel Street is $550,868.
What are some comparable homes to 1 Parallel Street?
There are currently no comparable homes to 1 Parallel Street.
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