38 Putnam St
About This Property
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 21, 2021 | Sold | ||
| Sold | |||
| Aug 3, 2021 | Listed by Keller Williams Realty Evolution | $599,000 | |
| Listed by Keller Williams Realty Evolution | |||
| Mar 18, 2020 | Sold | ||
| Sold | |||
| Feb 4, 2020 | Listed by Keller Williams Realty Evolution | $325,000 | |
| Listed by Keller Williams Realty Evolution | |||
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Offers are being reviewed for this home that has been taxed as a 2-family but is a single family according to building dept. Super location in Salem, close to Salem train yet also close to Peabody and it's upcoming downtown. Property is in need of extensive work - one newer heating system for the entire house, updated wiring and hardwood floors throughout, as well as some stunning details and light fixtures. This house has loads of potential, but is a major project & needs an owner with vision to see what it can be. Cash will be needed.
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| Sep 13, 2019 | No longer available | - | |
| No longer available | |||
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