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Salem 01970 Salem Neck
3 Lemon St
$668,000
● House - Off Market

3 Lemon St

Salem, MA 01970
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,544 Ft²
$597,508
RealtyHop Estimate
3.91%
Since Apr 1, 2022
MA-Boston
Primary Model

About This Property

Wonderful well maintained Victorian Colonial near Salem Common, commuter rail, downtown and waterfront. Hardwood floors everywhere it matters, and  nice natural wood trim and china cabinet in living room, as well as working pocket doors. The front foyer is a room unto itself and makes a delightful sitting area. The home has two full bathrooms and has top of the line Anderson windows throughout. There is a darling yard and 2 car off street parking. Showings begin immediately. Offers are due on Monday, February 7 by 5pm. Seller reserves the right to accept offer before deadline.
Unit Size
1,544 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$372
Property Type
House
Property Taxes
$443
HOA Dues
-
Year Built
1900

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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 #72938392)

Price History

Date / Event Date Event Price
Mar 4, 2022 Sold
Premium
Sold
Feb 1, 2022 Listed by J. Barrett & Company $575,000
Listed by J. Barrett & Company
Apr 27, 2007 Sold
Premium
Sold
Mar 6, 2007 Listed by J. Barrett & Company $309,900
Listed by J. Barrett & Company

Property Highlights

Parking Available
Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1900
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • 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: 812
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,613
  • Total Building Area: 1,669
  • Gross Building Area: 3,445
  • Building Area: 1,669
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,669
  • Heating Fuel Type: 6

    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: 204500

Zoning

  • Zoning: R2

Geography

  • Parcel: SALE M:36 L:0033
  • Lot: 33
  • Municipality: SALEM
  • Latitude: 42.5276
  • Longitude: -70.8913

    Address

  • Full Address: 3 Lemon St
  • Address - House Number: 3
  • Address - Street Name: Lemon
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C008
  • 4-Digit Zip Code: 3901
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $732,900

    Appraisal Valuation

  • Standard Deviation: 0.1579
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 665,243
  • High Value: 781,402
  • Low Value: 549,083

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $630,700
  • Assessed Land Value: $160,400
  • Assessed Improvements Value: $470,300

    Sales

  • Current Sale Contract Date: Mar 04, 2022
  • Current Sale Recording Date: Mar 04, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20220304004180
  • Previous Sale Recording Date: Apr 27, 2007
  • Previous Sale Amount: $317,000
  • 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 Salem Neck

Stats & Trends

Median Asking:

$549,900

Sale Price/ft²

$447

Below Asking

0.02%

Average Days on Market

57

Average Home Size

1378 ft²

Average Home Age

152.8 years

Currently For Sale

13 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# 72938392

Frequently Asked Questions

When was property at 3 Lemon Street built and last sold?
The property at 3 Lemon Street was built in 1900 and last sold on Mar 4, 2022 for $668,000.
How much is this home worth?
The estimated value of the home located at 3 Lemon Street is $578,999.
What are some comparable homes to 3 Lemon Street?
There are currently no comparable homes to 3 Lemon Street.
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