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Salem 01970 South Salem
16 Summit Ave
Photo of 16 Summit Ave
Sold on Jan 24, 2008

1

Map

$400,000
● House - Off Market

16 Summit Ave

Salem, MA 01970
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
2,346 Ft²
$798,827
RealtyHop Estimate
99.71%
Since Feb 1, 2008
MA-Boston
Primary Model

About This Property

NEW PRICE & NEW LOOK with the refinished wood kitchen floor YOU ask for! The grandeur of victorian detail, the warmth of stained glass, the patena of aged copper, the tradition of banded oak floors, the memories of spacious, open entertaining (with original pocket doors for privacy by the fire!), wafting warm ocean breezes across your porch, the style of Jenn-air, the comfort of updated systems, the pride of yankee craftsmanship - Welcome home to Forest River Park!
Unit Size
2,346 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$171
Property Type
House
Property Taxes
$349
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 #70673309)

Price History

Date / Event Date Event Price
Jan 24, 2008 Sold
Premium
Sold
Nov 3, 2007 Listed $400,000
Listed

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1890
  • Effective Year Built: 1890
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • 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: 1,075
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,630
  • Total Building Area: 2,219
  • Gross Building Area: 4,521
  • Building Area: 2,219
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,219
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000106
  • 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: 204101

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:33 L:0452
  • Lot: 452
  • Municipality: SALEM
  • Latitude: 42.5101
  • Longitude: -70.8905

    Address

  • Full Address: 16 Summit Ave
  • Address - House Number: 16
  • Address - Street Name: Summit
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C041
  • 4-Digit Zip Code: 4719
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $832,700

    Appraisal Valuation

  • Standard Deviation: 0.2028
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 72
  • Final Value: 750,453
  • High Value: 902,661
  • Low Value: 598,245

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $716,600
  • Assessed Land Value: $193,200
  • Assessed Improvements Value: $523,400

    Sales

  • Current Sale Recording Date: Jan 24, 2008
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: Apr 24, 2003
  • 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:

$619,000

Sale Price/ft²

$369

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2218 ft²

Average Home Age

86.1 years

Currently For Sale

44 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# 70673309

Frequently Asked Questions

When was property at 16 Summit Avenue built and last sold?
The property at 16 Summit Avenue was built in 1890 and last sold on Jan 1, 1970 for $400,000.
How much is this home worth?
The estimated value of the home located at 16 Summit Avenue is $426,660.
What are some comparable homes to 16 Summit Avenue?
There are currently no comparable homes to 16 Summit Avenue.
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