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Salem 01970 South Salem
22 Cedarcrest Ave
$580,000
● Land - Off Market

22 Cedarcrest Ave

Salem, MA 01970
bedrooms
Studio
bathrooms
0 Bath
$1,154,910
RealtyHop Estimate
49.99%
Since Feb 1, 2019
MA-Boston
Primary Model

About This Property

This property includes 3 buildable lots.  Lot 3 has a home on it that can be refurbished if the new owner desires to,  Great location near the Salem - Swampscott line.  Very close to Vinnin Square shops.   Please refer to LOT 1, 2, and 3 in the survey plan.  Seller has not lived in the property.  Buyer to do their own diligence.
Unit Size
-
Days on Market
-
Land Size
1.33 acres
Price per sqft
-
Property Type
Land
Property Taxes
$978
HOA Dues
-
Year Built
2020

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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 #72417162)

Price History

Date / Event Date Event Price
Jan 31, 2020 Sold
Premium
Sold
Jan 31, 2019 Sold
Premium
Sold
Oct 29, 2018 Listed by Reliance Realty $770,000
Listed by Reliance Realty

Property Highlights

Building Info

Overview

    General

  • Year Built: 2020
  • Effective Year Built: 2020
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • 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: 2,145
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 21,510
  • Total Building Area: 3,432
  • Gross Building Area: 4,776
  • Building Area: 3,432
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 3,432
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000494
  • 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:21 L:0048
  • Lot: 48
  • Municipality: SALEM
  • Latitude: 42.4885
  • Longitude: -70.9017

    Address

  • Full Address: 22 Cedarcrest Ave
  • Address - House Number: 22
  • Address - Street Name: Cedarcrest
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C026
  • 4-Digit Zip Code: 4342
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $952,100

    Appraisal Valuation

  • Standard Deviation: 0.1579
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 80
  • Final Value: 1,131,254
  • High Value: 1,309,940
  • Low Value: 952,568

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $819,400
  • Assessed Land Value: $224,100
  • Assessed Improvements Value: $595,300

    Sales

  • Current Sale Contract Date: Jan 20, 2020
  • Current Sale Recording Date: Jan 31, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200131005310
  • Previous Sale Recording Date: Jan 31, 2019
  • Previous Sale Contract Date: Dec 31, 2018
  • Previous Sale Amount: $580,000
  • Previous Sale Document Type: O
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

2257 ft²

Average Home Age

86.4 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

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72417162

Frequently Asked Questions

When was property at 22 Cedarcrest Avenue built and last sold?
The property at 22 Cedarcrest Avenue was built in 2020 and last sold on Jan 20, 2020 for $650,000.
How much is this home worth?
The estimated value of the home located at 22 Cedarcrest Avenue is $777,700.
What are some comparable homes to 22 Cedarcrest Avenue?
There are currently no comparable homes to 22 Cedarcrest Avenue.
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