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Salem 01970 South Salem
16 Surrey Rd
$705,000
● House - Off Market

16 Surrey Rd

Salem, MA 01970
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,550 Ft²
$632,324
RealtyHop Estimate
-1.04%
Since Oct 1, 2023
MA-Boston
Primary Model

About This Property

OPEN HOUSE CANCELLED. OFFER ACCEPTED. This Charming Cape located on a quiet tree lined street in South Salem is available for the first time. Built in 1956 by the current family, this spacious 4 bed 2 bath home has experienced many updates through the years. The first level, with its open flow, make it perfect for both entertaining and family living. It features a spacious living room with wood burning fireplace, light and bright kitchen with stunning cherry cabinets, 2 bedrooms and a full bath, and a lovely 3 season sun room that leads to the garage and fenced in yard. The second floor has 2 bedrooms with an updated bath. Other features include; AC on the first floor, newer windows, newer exterior siding, builtin in the kitchen, hardwood throughout, 1 car garage and a beautifully landscaped, fenced level lot.
Unit Size
1,550 Ft²
Days on Market
-
Land Size
0.18 acres
Price per sqft
$412
Property Type
House
Property Taxes
$538
HOA Dues
-
Year Built
1956

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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 #73155722)

Price History

Date / Event Date Event Price
Sep 22, 2023 Sold
Premium
Sold
Sep 7, 2023 In contract -
In contract
Sep 6, 2023 Listed by J. Barrett & Company $639,000
Listed by J. Barrett & Company

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1956
  • Effective Year Built: 1956
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • 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: 884
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,915
  • Total Building Area: 1,366
  • Gross Building Area: 3,472
  • Building Area: 1,366
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,366
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000182
  • 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: R1

Geography

  • Parcel: SALE M:22 L:0156
  • Lot: 156
  • Municipality: SALEM
  • Latitude: 42.4961
  • Longitude: -70.9003

    Address

  • Full Address: 16 Surrey Rd
  • Address - House Number: 16
  • Address - Street Name: Surrey
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Salem
  • Carrier Code: C029
  • 4-Digit Zip Code: 4364
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $669,400

    Appraisal Valuation

  • Standard Deviation: 0.1736
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 664,949
  • High Value: 780,365
  • Low Value: 549,533

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $576,100
  • Assessed Land Value: $215,700
  • Assessed Improvements Value: $360,400

    Sales

  • Current Sale Contract Date: Sep 20, 2023
  • Current Sale Recording Date: Sep 22, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20230922002490
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

$370

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2270 ft²

Average Home Age

87.2 years

Currently For Sale

43 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# 73155722

Frequently Asked Questions

When was property at 16 Surrey Road built and last sold?
The property at 16 Surrey Road was built in 1956 and last sold on Sep 20, 2023 for $705,000.
How much is this home worth?
The estimated value of the home located at 16 Surrey Road is $646,348.
What are some comparable homes to 16 Surrey Road?
There are currently no comparable homes to 16 Surrey Road.
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