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Salem 01970 North Salem
15 Lee St
$520,000
● House - Off Market

15 Lee St

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,464 Ft²
$633,294
RealtyHop Estimate
26.91%
Since Jan 1, 2021
MA-Boston
Primary Model

About This Property

Located in a PRIME North Salem neighborhood, with easy access to all the vibrant downtown amenities.  There is plenty of potential in this home that has been seasoned with love and care from its original owners for 50+ years.  From top to bottom you will find generous sized rooms, hardwood floors, and plenty of storage space.  The oversized lot allows for great outdoor space or expansion possibilities.  Customize this house to suit your decorating style and make this your HOME!
Unit Size
1,464 Ft²
Days on Market
-
Land Size
0.23 acres
Price per sqft
$341
Property Type
House
Property Taxes
$503
HOA Dues
-
Year Built
1930

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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 years ago (MLSPIN #72753980)

Price History

Date / Event Date Event Price
Dec 31, 2020 Sold
Premium
Sold
Nov 11, 2020 Listed by RE/MAX 360 $499,000
Listed by RE/MAX 360
Jan 1, 1969 Sold
Premium
Sold

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1930
  • Effective Year Built: 1930
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 18
  • 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: 762
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,001
  • Total Building Area: 1,488
  • Gross Building Area: 2,514
  • Building Area: 1,488
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,488
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000230
  • 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: 204600

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:27 L:0489
  • Lot: 489
  • Municipality: SALEM
  • Latitude: 42.5318
  • Longitude: -70.9005

    Address

  • Full Address: 15 Lee St
  • Address - House Number: 15
  • Address - Street Name: Lee
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C027
  • 4-Digit Zip Code: 2421
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $730,700
  • Initial Tax Delinquent Year: 2021

    Appraisal Valuation

  • Standard Deviation: 0.1736
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 674,892
  • High Value: 792,035
  • Low Value: 557,750

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $628,800
  • Assessed Land Value: $226,100
  • Assessed Improvements Value: $402,700

    Sales

  • Current Sale Contract Date: Dec 29, 2020
  • Current Sale Recording Date: Dec 31, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20201231003890
  • Previous Sale Recording Date: Jan 01, 1969
  • Previous Sale Amount: $31,000
  • 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 North Salem

Stats & Trends

Median Asking:

$649,900

Sale Price/ft²

$421

Below Asking

0.02%

Average Days on Market

52

Average Home Size

1717 ft²

Average Home Age

100.9 years

Currently For Sale

18 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 years ago
Data Source: MLS PIN, MLS# 72753980

Frequently Asked Questions

When was property at 15 Lee Street built and last sold?
The property at 15 Lee Street was built in 1930 and last sold on Dec 29, 2020 for $520,000.
How much is this home worth?
The estimated value of the home located at 15 Lee Street is $0.
What are some comparable homes to 15 Lee Street?
There are currently no comparable homes to 15 Lee Street.
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