18 Franklin Street

18 Franklin Street has been categorized by the local assessors in Salem, MA as a commercial type of property. The building on the property was first built in 1952 and is 72 years old. There is one partial bathroom in the home. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 18 Franklin Street has 1,028 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 2,522 square feet.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Moving on to the building itself. The condition of the building has been evaluated as fair. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with steel control joints. The building has a flat style roof made of tar and gravel. The exterior walls of the building are made of concrete block. In terms of heating, it is utilizing a steam heating system and being fueled with gas. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 18 Franklin Street sold most recently in Nov 19, 2020 for a total of $1,400,000. If you work out the math, that's approximately a cost of $1,361.87 per sqft. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $1,766 in taxes each year. 18 Franklin Street was most recently assessed in 2021. During this assessment, the property's total value was estimated to be about $64,000. If we break it down further, the land itself was valued at $33,500. Improvements to the property, however, were assessed at a total of $30,500. The property's total assessed value has been marked as more than the total market value which is pretty atypical. Remember, the purchasing price for your future home is not the costs you'll incur during the purchasing process. That's why it's important to save as much as possible and presumbly above the 20% minimum you may need to put down as down payment. You will want these additional savings to cover closing costs such as attorney fees, homeowner's insurance, title search fees, origination fees, and more. Thankfully, sellers may sometimes offer to cover certain costs as seller concessions to the buyer. Just keep in mind that sellers have their own fees to pay as well.Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.