$489,000
●
Condo -
Off Market
112 Margin Street #2
Salem, MA 01970
3 Beds
3 Baths,
1
Half Bath
1,510 Ft²
$698,993
RealtyHop Estimate
42.94%
Since Jun 1, 2019
MA-Boston
Primary Model
About This Property
The Farnham House Condominiums, a brand NEW renovation is the new
standard of luxury in Downtown Salem! This spectacular second floor
townhouse boasts three bedrooms and two and a half baths along with
an open concept kitchen/dining/living space. The kitchen has an
abundance of white cabinetry with white granite counters and high
end stainless appliances that include gas cooking! Between the
kitchen and living room is double French door access to the
enormous private deck - with tons of room for entertaining. Back
inside, the contemporary fireplace is surrounded by white stone
while a decorative peaked window adds architectural and historical
interest. This level also features the sumptuous master suite with
fireplaced bedroom, en-suite spa bath with double vanity &
oversized shower, laundry, plus a huge walk-in closet-a second full
guest bath is off the hallway! Upstairs you'll find two more
bedrooms with skylights and a half bath. 2 c Parking, pet friendly,
Location-This Has it ALL!!
Unit Size
1,510 Ft²
Days on Market
-
Land Size
-
Price per sqft
$324
Property Type
Condo
Property Taxes
$245
HOA Dues
$150
Year Built
1870
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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: 5 years ago (MLSPIN #72471677)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 30, 2023 | Sold | ||
| Sold | |||
| May 18, 2023 | In contract | - | |
| In contract | |||
| May 11, 2023 | Listed by RE/MAX Encore | $620,000 | |
| Listed by RE/MAX Encore | |||
| | |||
|
Welcome to The Historic Farnham House - a 3 Bed, 2.5 Bath condo home in Downtown Salem approx ½ mile to The T Station. Complete renovation in 2019 with beautiful finishes. Your inner chef will marvel at the roomy kitchen with an abundance of white cabinets accented by white granite counters & stainless appliances with gas cooking. The large living/dining area is highlighted by a white stone fireplace. A decorative peaked window adds architectural significance. French doors from the living areas lead to the massive deck perfect for entertaining. The main level features the primary bedroom suite with fireplace, in unit laundry, a well-appointed spa bath with dual vanities & oversized shower & a huge walk-in closet. A 2nd full guest bath completes the main level. Upstairs are two more bedrooms with skylights & a useful half bath. There’s more: 2 car off-street parking, updated systems, pet friendly, storage room & walkable to all the fun activities & great restaurants in Downtown Salem.
| |||
| May 10, 2023 | Temporarily off market | - | |
| Temporarily off market | |||
| Apr 26, 2023 | In contract | - | |
| In contract | |||
Show More
Property Highlights
Air Conditioning
Fireplace
Interior Details
Level: Second
Features: Flooring - Hardwood, Countertops - Stone/Granite/Solid, French Doors, Deck - Exterior, Exterior Access, Open Floorplan, Recessed Lighting, Remodeled, Slider, Stainless Steel Appliances, Gas Stove
Level: Second
Features: Bathroom - 3/4, Bathroom - Double Vanity/Sink, Bathroom - Tiled With Shower Stall, Closet - Linen, Closet, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
Level: Third
Features: Cathedral Ceiling(s), Closet, Flooring - Hardwood
Features: Cathedral Ceiling(s), Closet, Flooring - Hardwood
Level: Third
Features: Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
Level: Second
Features: Walk-In Closet(s), Flooring - Hardwood
Level: Second
Level: Second
Features: Flooring - Hardwood, French Doors, Deck - Exterior, Exterior Access, Open Floorplan, Recessed Lighting
Features: Bathroom - Half, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
Level: Third
Features: Yes
Half Bathrooms: 1
Full Bathrooms: 2
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Gas Water Heater, Utility Connections for Gas Range
Flooring Type: Wood, Tile, Hardwood
Laundry Features: Second Floor, In Unit
Rooms: 5
Has Fireplace
Fireplace Features: Living Room, Master Bedroom
Fireplaces: 2
Basement: Y
Exterior Details
Entry Level: 2
Security Features: Other
Year Built Source: Owner
Year Built Details: Actual
PropertySubType: Condominium
Building Name: Farnham House Condominiums
Structure Type: Townhouse
Stories (Total): 2
Building Area Units: Square Feet
Construction Materials: Frame
Patio and Porch Features: Deck, Deck - Wood
Lead Paint: Unknown
Lot Size Units: Acres
Zoning: R2
Parcel Number: 2132069
Water Source: Public
Financial Details
Tax Assessed Value: $389,300
Tax Annual Amount: $2,939
Utilities Details
Utilities: for Gas Range
Cooling Type: Central Air
Heating Type: Forced Air, Natural Gas
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Water, Sewer, Insurance, Maintenance Structure, Maintenance Grounds, Snow Removal, Reserve Funds
HOA/Condo/Coop Amenities: Storage
Association Fee Frequency: Monthly
HOA Fee: $150
Community Features: Public Transportation, Shopping, T-Station
Pets Allowed: Yes
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
04/20/2023
|
3 Bed
|
3 Bath
|
-
|
$635,000
3 Bed
3 Bath
|
-
-
|
EdVantage Home Group
RE/MAX Platinum
| |
|
04/27/2023
|
3 Bed
|
3 Bath
|
1756 ft²
|
$649,900
3 Bed
3 Bath
1756 ft²
|
$635,000
-2.29%
07/25/2023
|
Lorraine Gately
Chinatti Realty Group, Inc.
| |
|
04/20/2021
|
3 Bed
|
3 Bath
|
1756 ft²
|
$625,000
3 Bed
3 Bath
1756 ft²
|
$632,500
+1.20%
06/16/2021
|
Rahel Choi
eXp Realty
| |
|
04/18/2019
|
3 Bed
|
2 Bath
|
1756 ft²
|
$529,000
3 Bed
2 Bath
1756 ft²
|
$510,000
-3.59%
06/14/2019
|
Pam McKee Team
Keller Williams Realty Evolution
| |
|
03/27/2019
|
3 Bed
|
3 Bath
|
1510 ft²
|
$489,000
3 Bed
3 Bath
1510 ft²
|
$489,000
05/03/2019
|
Pam McKee Team
Keller Williams Realty
| |
|
10/29/1998
| |
2 Bed
|
-
|
2158 ft²
|
$149,900
2 Bed
-
2158 ft²
|
$138,000
-7.94%
03/30/1999
|
Marie Bishop
LAER Realty Partners
|
Building Info
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