112 Margin St #2
About This Property
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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%.
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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.
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 | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
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
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017