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Salem 01970 Salem Neck
16 Memorial Dr.
$329,000
● House - Off Market

16 Memorial Dr.

Salem, MA 01970
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,152 Ft²
$714,436
RealtyHop Estimate
117.15%
Since Oct 1, 2002
MA-Boston
Primary Model

About This Property

STUNNING CAPE SITUATED ON LARGE FENCED CORNER LOT IN THE WILLOWS. OFFERS 7RMS, 4BRS, INCLUDING MBR ON 1ST FLOOR, FAMILY ROOM, GLEAMING HW FLOORS AND ATTACHED GARAGE. WALK TO BEACH AND ACROSS FROM PARK.
Unit Size
1,152 Ft²
Days on Market
-
Land Size
0.21 acres
Price per sqft
$286
Property Type
House
Property Taxes
$196
HOA Dues
-
Year Built
1949

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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 #30628612)

Price History

Date / Event Date Event Price
Sep 27, 2002 Sold
Premium
Sold
Jul 23, 2002 Listed by Coldwell Banker Residential Brokerage - Salem $329,000
Listed by Coldwell Banker Residential Brokerage - Salem

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1949
  • Effective Year Built: 1949
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 4
  • 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: 768
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,270
  • Total Building Area: 1,152
  • Gross Building Area: 3,387
  • Building Area: 1,152
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,152
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CITY SALEM
  • Land Acres: 0000000213
  • 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:42 L:0055
  • Lot: 55
  • Municipality: SALEM
  • Latitude: 42.5279
  • Longitude: -70.8798

    Address

  • Full Address: 16 Memorial Dr
  • Address - House Number: 16
  • Address - Street Name: Memorial
  • Address - Suffix Type: Dr
  • State: MA
  • City Name: Salem
  • Carrier Code: C012
  • 4-Digit Zip Code: 5262
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $638,300

    Appraisal Valuation

  • Standard Deviation: 0.1588
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 80
  • Final Value: 678,120
  • High Value: 785,802
  • Low Value: 570,437

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $549,300
  • Assessed Land Value: $195,900
  • Assessed Improvements Value: $353,400

    Sales

  • Current Sale Recording Date: Sep 27, 2002
  • Current Sale Price:
    Premium
  • Current 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:

$549,900

Sale Price/ft²

$447

Below Asking

0.02%

Average Days on Market

57

Average Home Size

1378 ft²

Average Home Age

152.8 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

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# 30628612

Frequently Asked Questions

When was property at 16 Memorial Drive built and last sold?
The property at 16 Memorial Drive was built in 1949 and last sold on Jan 1, 1970 for $329,000.
How much is this home worth?
The estimated value of the home located at 16 Memorial Drive is $340,584.
What are some comparable homes to 16 Memorial Drive?
There are currently no comparable homes to 16 Memorial Drive.
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