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Salem 01970 Salem Neck
116 Bay View
$800,000
● House - Off Market

116 Bay View

Salem, MA 01970
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,215 Ft²
$857,880
RealtyHop Estimate
7.23%
Since Dec 1, 2022
MA-Boston
Primary Model

About This Property

Once-in-a-lifetime oceanfront opportunity on Juniper Point in Salem Willows.  Enjoy sunrise and 180-degree wide-open ocean views of Marblehead, Salem Harbor, Salem Sound, and Baker's Island from this charming Victorian cottage.  This adorable three-bedroom, two-bathroom  includes four levels of water views including a lower-level bedroom suite and walk-up attic.  This scenic Juniper Point neighborhood provides a beach retreat only a stone's throw from downtown Salem and easy commute to Boston.  Close proximity to Juniper Beach, Salem Willows, Winter Island, Fort Pickering Beach, and Collins Cover Sculpture Garden.  Bring your imagination and enjoy the view.
Unit Size
1,215 Ft²
Days on Market
-
Land Size
0.07 acres
Price per sqft
$658
Property Type
House
Property Taxes
$637
HOA Dues
-
Year Built
1870

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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 #73044110)

Price History

Date / Event Date Event Price
Nov 10, 2022 Sold
Premium
Sold
Oct 10, 2022 In contract -
In contract
Oct 4, 2022 Listed by MerryFox Realty $800,000
Listed by MerryFox Realty

Property Highlights

Garage
Fireplace

Building Info

Overview

    General

  • Year Built: 1870
  • Effective Year Built: 1870
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 8
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 665
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,149
  • Total Building Area: 1,224
  • Gross Building Area: 2,681
  • Building Area: 1,224
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 16
  • Heated Square Feet: 1,224
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000072
  • 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: 204400

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:44 L:0121
  • Lot: 121
  • Municipality: SALEM
  • Latitude: 42.5331
  • Longitude: -70.8656

    Address

  • Full Address: 116 Bay View Ave
  • Address - House Number: 116
  • Address - Street Name: Bay View
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C012
  • 4-Digit Zip Code: 5746
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $795,700
  • Initial Tax Delinquent Year: 2022

    Appraisal Valuation

  • Standard Deviation: 0.2155
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 69
  • Final Value: 846,250
  • High Value: 1,031,900
  • Low Value: 660,599

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $684,800
  • Assessed Land Value: $469,200
  • Assessed Improvements Value: $215,600

    Sales

  • Current Sale Contract Date: Nov 08, 2022
  • Current Sale Recording Date: Nov 10, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20221110001340
  • Previous Sale Recording Date: Jul 13, 2016
  • Previous Sale Document Type: 27
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 Salem Neck

Stats & Trends

Median Asking:

$569,900

Sale Price/ft²

$447

Below Asking

0.02%

Average Days on Market

57

Average Home Size

1483 ft²

Average Home Age

150.8 years

Currently For Sale

13 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

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 73044110

Frequently Asked Questions

When was property at 116 Bay View Avenue built and last sold?
The property at 116 Bay View Avenue was built in 1870 and last sold on Nov 8, 2022 for $800,000.
How much is this home worth?
The estimated value of the home located at 116 Bay View Avenue is $799,747.
What are some comparable homes to 116 Bay View Avenue?
There are currently no comparable homes to 116 Bay View Avenue.
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