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Salem 01970 South Salem
2 Peter Road
$399,900
● House - Off Market

2 Peter Road

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,643 Ft²
$594,787
RealtyHop Estimate
48.73%
Since Dec 1, 2018
MA-Boston
Primary Model

About This Property

Watch the swans swim in Leggs Hill Pond from the windows of this well maintained, sunlit ranch. Located in a desirable South Salem neighborhood, this home is close to the Marblehead YMCA, Vinnin Square's shops and restaurants and public transportation. An expansive eat-in kitchen, rear den/family room wrapped in windows, 3 bedrooms with spacious closets and an extra wide hallway all contribute to a very comfortable living space. New roof, newer heating system, central air, irrigation system and a HUGE basement. Move right in and have fun with the updates that will make it your own!
Unit Size
1,643 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$243
Property Type
House
Property Taxes
$419
HOA Dues
-
Year Built
1960

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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 #72408863)

Price History

Date / Event Date Event Price
Nov 19, 2018 Sold
Premium
Sold
Oct 11, 2018 Listed by J. Barrett & Company $399,900
Listed by J. Barrett & Company
Mar 31, 1999 Sold
Premium
Sold

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1960
  • Effective Year Built: 1960
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,643
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,647
  • Total Building Area: 1,643
  • Gross Building Area: 3,364
  • Building Area: 1,643
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,643
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000199
  • 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:30 L:0007
  • Lot: 7
  • Municipality: SALEM
  • Latitude: 42.4863
  • Longitude: -70.8943

    Address

  • Full Address: 2 Peter Rd
  • Address - House Number: 2
  • Address - Street Name: Peter
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Salem
  • Carrier Code: C026
  • 4-Digit Zip Code: 4232
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $663,300

    Appraisal Valuation

  • Standard Deviation: 0.1786
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 76
  • Final Value: 658,875
  • High Value: 776,528
  • Low Value: 541,222

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $570,800
  • Assessed Land Value: $219,300
  • Assessed Improvements Value: $351,500

    Sales

  • Current Sale Recording Date: Nov 19, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 181119005380
  • Previous Sale Recording Date: Mar 31, 1999
  • Previous Sale Amount: $125,000
  • 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

$370

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2094 ft²

Average Home Age

89.7 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

Rentals Near You

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72408863

Frequently Asked Questions

When was property at 2 Peter Road built and last sold?
The property at 2 Peter Road was built in 1960 and last sold on Jan 1, 1970 for $399,900.
How much is this home worth?
The estimated value of the home located at 2 Peter Road is $416,375.
What are some comparable homes to 2 Peter Road?
There are currently no comparable homes to 2 Peter Road.
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