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Salem 01970 South Salem
123 Loring Ave
$575,000
● House - Off Market

123 Loring Ave

Salem, MA 01970
bedrooms
3 Beds
bathrooms
3 Baths
square feet
1,141 Ft²
$581,257
RealtyHop Estimate
1.97%
Since May 1, 2022
MA-Boston
Primary Model

About This Property

Spacious living space in this 3 Bed, 3 Bath single family home with additional finished rooms in full walk out basement. Open concept living room, dining room and kitchen. First floor has two bedrooms and one full bathroom and  laundry room. Second floor has master bedroom with skylight, walk in closet, separate office or sitting area and bathroom with jacuzzi tub and separate shower. Fenced backyard. South Salem location, convenient to restaurants, beaches, historic attractions, shopping, commuter rail train or ferry to Boston. Only 1.3 miles from downtown. Enjoy the walking trails at  the nearby Forest River Conservation Area. Driveway for off street parking 4 tandem cars. 3/26 Open house cancelled.
Unit Size
1,141 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$500
Property Type
House
Property Taxes
$368
HOA Dues
-
Year Built
1925

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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: 5 months ago (MLSPIN #72950385)

Price History

Date / Event Date Event Price
Apr 29, 2022 Sold
Premium
Sold
Mar 8, 2022 Listed by Coldwell Banker Realty - Marblehead $570,000
Listed by Coldwell Banker Realty - Marblehead
Jun 13, 1997 Sold
Premium
Sold

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1925
  • Effective Year Built: 1925
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 5
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 3
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 8
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 849
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,700
  • Total Building Area: 1,650
  • Gross Building Area: 2,782
  • Building Area: 1,650
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,650
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000108
  • 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: R2

Geography

  • Parcel: SALE M:31 L:0098
  • Lot: 98
  • Municipality: SALEM
  • Latitude: 42.4987
  • Longitude: -70.895

    Address

  • Full Address: 123 Loring Ave
  • Address - House Number: 123
  • Address - Street Name: Loring
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C099
  • 4-Digit Zip Code: 4487
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $602,800
  • Initial Tax Delinquent Year: 2022

    Appraisal Valuation

  • Standard Deviation: 0.1844
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 75
  • Final Value: 523,420
  • High Value: 619,932
  • Low Value: 426,908

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $518,800
  • Assessed Land Value: $175,700
  • Assessed Improvements Value: $343,100

    Sales

  • Current Sale Contract Date: Apr 29, 2022
  • Current Sale Recording Date: Apr 29, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20220429007440
  • Previous Sale Recording Date: Jun 13, 1997
  • Previous Sale Amount: $55,000
  • 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 South Salem

Stats & Trends

Median Asking:

$618,750

Sale Price/ft²

$368

Below Asking

0.01%

Average Days on Market

57

Average Home Size

2171 ft²

Average Home Age

86.6 years

Currently For Sale

35 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: 5 months ago
Data Source: MLS PIN, MLS# 72950385

Frequently Asked Questions

When was property at 123 Loring Avenue built and last sold?
The property at 123 Loring Avenue was built in 1925 and last sold on Apr 29, 2022 for $575,000.
How much is this home worth?
The estimated value of the home located at 123 Loring Avenue is $570,527.
What are some comparable homes to 123 Loring Avenue?
There are currently no comparable homes to 123 Loring Avenue.
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