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Essex 01810
342 Salem St
$608,343
● House - Off Market

342 Salem St

Andover, MA 01810
bedrooms
4 Beds
bathrooms
2 Baths
square feet
2,054 Ft²
$738,757
RealtyHop Estimate
30.75%
Since Oct 1, 2020
MA-Boston
Primary Model

About This Property

This well-maintained home boasts 4 bedrooms and 2 full baths situated on a serene lot just shy of 2 acres. The lower level consists of a family room, office, bedroom and one full bath with laundry. The upper level has 3 bedrooms, one full bath, access to a walk-up attic, open dining room and living room, kitchen and abutting sunroom. The back deck was built in 2014, the roof and furnace were replaced in 2016, and new hot water tank in 2018. This home is within the Bancroft School district and has close proximity to Andover Conservation land, Phillips Academy and major highways.
Unit Size
2,054 Ft²
Days on Market
-
Land Size
1.96 acres
Price per sqft
$275
Property Type
House
Property Taxes
$665
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: 5 months ago (MLSPIN #72688741)

Price History

Date / Event Date Event Price
Sep 3, 2020 Sold
Premium
Sold
Jul 10, 2020 Listed by Coldwell Banker Realty - Andover $565,000
Listed by Coldwell Banker Realty - Andover
Nov 26, 2014 Sold
Premium
Sold
Apr 25, 2014 Listed by Coldwell Banker Realty - Andover $449,000
Listed by Coldwell Banker Realty - Andover
Sep 14, 2009 Sold
Premium
Sold
Show More

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1960
  • Effective Year Built: 1960
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 42
  • Exterior Walls Type: 18
  • 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: 1,022
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 85,547
  • Total Building Area: 2,054
  • Gross Building Area: 2,438
  • Building Area: 2,054
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 2,054
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: IPSWICH DAIRY
  • Land Acres: 0000001964
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Andover School District
  • Census Tract: 254302

Zoning

  • Zoning: SRC

Geography

  • Parcel: ANDO M:00013 B:00004 L:00000
  • Block: 4
  • Municipality: ANDOVER
  • Latitude: 42.6242
  • Longitude: -71.0975

    Address

  • Full Address: 342 Salem St
  • Address - House Number: 342
  • Address - Street Name: Salem
  • Address - Suffix Type: St
  • State: MA
  • City Name: Andover
  • Carrier Code: C016
  • 4-Digit Zip Code: 2330
  • Zip Code: 01810

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $940,800

    Appraisal Valuation

  • Standard Deviation: 0.1552
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 80
  • Final Value: 828,985
  • High Value: 957,720
  • Low Value: 700,249

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $688,700
  • Assessed Land Value: $472,000
  • Assessed Improvements Value: $216,700

    Sales

  • Current Sale Contract Date: Aug 31, 2020
  • Current Sale Recording Date: Sep 03, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 23333
  • Previous Sale Recording Date: Nov 26, 2014
  • Previous Sale Amount: $427,000
  • 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 Essex

Stats & Trends

Median Asking:

$699,900

Sale Price/ft²

$384

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2519 ft²

Average Home Age

73.7 years

Currently For Sale

1437 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: 5 months ago
Data Source: MLS PIN, MLS# 72688741

Frequently Asked Questions

When was property at 342 Salem Street built and last sold?
The property at 342 Salem Street was built in 1960 and last sold on Aug 31, 2020 for $608,342.
How much is this home worth?
The estimated value of the home located at 342 Salem Street is $577,601.
What are some comparable homes to 342 Salem Street?
There are currently no comparable homes to 342 Salem Street.
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