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Salem 01970 South Salem
11 Summit Street
$485,000
● House - Off Market

11 Summit Street

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,357 Ft²
$703,888
RealtyHop Estimate
40.81%
Since Mar 1, 2020
MA-Boston
Primary Model

About This Property

Welcome home to 11 Summit Street. This was brought down to the studs and remodelled in late 2019 with modern finishes throughout. Brand new 200 amp electrical service and wiring, 4'' LED energy efficient recessed lights in every room, brand new plumbing, brand new roof. Open concept kitchen and dining room the kitchen features new stainless steel appliances with matching vented range hood, Alabaster white quartz countertops, white shaker soft close cabinets finished with beautiful crown moulding. Google Nest thermostats ( 3 separate zones ) An all-season sun porch. The 55" inch Samsung UHD flat screen tv is wall mounted with a media closet behind it. All bedrooms are on the second floor and a full bathroom. The master bedroom has a spacious walk-in closet with a barn door. Great size backyard for gatherings.
Unit Size
1,357 Ft²
Days on Market
-
Land Size
0.08 acres
Price per sqft
$368
Property Type
House
Property Taxes
$448
HOA Dues
-
Year Built
1890

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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 #72608411)

Price History

Date / Event Date Event Price
Feb 27, 2020 Sold
Premium
Sold
Jan 15, 2020 Listed by Blue Key Realty $499,900
Listed by Blue Key Realty
Sep 6, 2019 Sold
Premium
Sold
Jul 27, 2019 Listed by Blue Key Realty $299,900
Listed by Blue Key Realty

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1890
  • Effective Year Built: 1890
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • 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: 7
  • Basement Area: 689
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,280
  • Total Building Area: 1,190
  • Gross Building Area: 2,379
  • Building Area: 1,190
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,190
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000075
  • 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: 204702

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:15 L:0163
  • Lot: 163
  • Municipality: SALEM
  • Latitude: 42.5197
  • Longitude: -70.9149

    Address

  • Full Address: 11 Summit St
  • Address - House Number: 11
  • Address - Street Name: Summit
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C038
  • 4-Digit Zip Code: 1324
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $614,500

    Appraisal Valuation

  • Standard Deviation: 0.2266
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 70
  • Final Value: 673,854
  • High Value: 818,595
  • Low Value: 529,112

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $528,800
  • Assessed Land Value: $192,400
  • Assessed Improvements Value: $336,400

    Sales

  • Current Sale Contract Date: Feb 10, 2020
  • Current Sale Recording Date: Feb 27, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200227003080
  • Previous Sale Recording Date: Sep 06, 2019
  • Previous Sale Contract Date: Sep 04, 2019
  • Previous Sale Amount: $260,000
  • 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

$369

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: 4 months ago
Data Source: MLS PIN, MLS# 72608411

Frequently Asked Questions

When was property at 11 Summit Street built and last sold?
The property at 11 Summit Street was built in 1890 and last sold on Feb 10, 2020 for $485,000.
How much is this home worth?
The estimated value of the home located at 11 Summit Street is $501,089.
What are some comparable homes to 11 Summit Street?
There are currently no comparable homes to 11 Summit Street.
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