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Salem 01970 North Salem
15 Phillips St
$450,000
● House - Off Market

15 Phillips St

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,328 Ft²
$466,467
RealtyHop Estimate
9.76%
Since Feb 1, 2022
MA-Boston
Primary Model

About This Property

A little TLC and a few cosmetic upgrades is what this adorable home needs to make it your own. This home has been loved by the same family for decades and offers so much potential. On the first floor you will find kitchen/dining area with access to the oversized deck, living room with a built in hutch & a bright sunny spot for your home office!  On the second level ,there are 3 bedrooms with ample closet space and a full bathroom. Other features of this home include a large entertainment deck, fenced in yard, and off street parking. Conveniently located in the Mack Park neighborhood in close proximity to downtown Salem, restaurants and shopping!
Unit Size
1,328 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$320
Property Type
House
Property Taxes
$455
HOA Dues
-
Year Built
1890

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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 #72922927)

Price History

Date / Event Date Event Price
Jan 12, 2022 Sold
Premium
Sold
Nov 24, 2021 Listed by LAER Realty Partners $425,000
Listed by LAER Realty Partners

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1890
  • Effective Year Built: 1890
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 19
  • 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: 759
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 12

    Dimensions

  • Lot Size Square Feet: 4,587
  • Total Building Area: 1,328
  • Gross Building Area: 2,517
  • Building Area: 1,328
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,328
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000105
  • 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:16 L:0248
  • Lot: 248
  • Municipality: SALEM
  • Latitude: 42.5255
  • Longitude: -70.9111

    Address

  • Full Address: 15 Phillips St
  • Address - House Number: 15
  • Address - Street Name: Phillips
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C017
  • 4-Digit Zip Code: 1537
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $527,900

    Appraisal Valuation

  • Standard Deviation: 0.2266
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 68
  • Final Value: 542,977
  • High Value: 665,995
  • Low Value: 419,959

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $454,300
  • Assessed Land Value: $193,000
  • Assessed Improvements Value: $261,300

    Sales

  • Current Sale Contract Date: Jan 12, 2022
  • Current Sale Recording Date: Jan 12, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20220112002990
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:

$659,000

Sale Price/ft²

$422

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1635 ft²

Average Home Age

98.2 years

Currently For Sale

20 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: 4 months ago
Data Source: MLS PIN, MLS# 72922927

Frequently Asked Questions

When was property at 15 Phillips Street built and last sold?
The property at 15 Phillips Street was built in 1890 and last sold on Jan 12, 2022 for $450,000.
How much is this home worth?
The estimated value of the home located at 15 Phillips Street is $438,032.
What are some comparable homes to 15 Phillips Street?
There are currently no comparable homes to 15 Phillips Street.
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