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Salem 01970 Salem Neck
47 Memorial Drive
$1,800,000
● House - Off Market

47 Memorial Drive

Salem, MA 01970
bedrooms
4 Beds
bathrooms
4 Baths
square feet
3,520 Ft²
$1,376,660
RealtyHop Estimate
1.97%
Since May 1, 2022
MA-Boston
Primary Model

About This Property

DIRECT WATERFRONT. Enjoy unobstructed water views from every room of this spacious 4 bedroom, 4 full bath colonial home. Chef's kitchen features cherry cabinets, granite counters, stainless steel appliances, double door refrigerator and double oven. Brazilian Cherry hardwood flooring throughout. Grand Master suite with sizable walk-in closet and spa-like master bathroom featuring designer tile, double sink vanity with granite counter, whirlpool tub and multi jetted over-sized custom shower. Also located on the second floor are two bedrooms and a full bath. Finishing off this masterpiece is a well appointed upper level great and media rooms leading to a large deck overlooking the harbor and in-ground pool. Easy access to town, public transportation, shops, restaurants and the ferry to Boston.
Unit Size
3,520 Ft²
Days on Market
-
Land Size
0.15 acres
Price per sqft
$384
Property Type
House
Property Taxes
$999
HOA Dues
-
Year Built
1948

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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 #72943763)

Price History

Date / Event Date Event Price
Apr 26, 2022 Sold
Premium
Sold
Feb 17, 2022 Listed by Compass $1,350,000
Listed by Compass
Nov 26, 2014 Sold
Premium
Sold
Oct 19, 2010 Sold
Premium
Sold

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1948
  • Effective Year Built: 2015
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 300
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,248
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 12

    Dimensions

  • Lot Size Square Feet: 3,842
  • Total Building Area: 3,552
  • Gross Building Area: 5,136
  • Building Area: 3,552
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 3,552
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000088
  • 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: 204400

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:42 L:0008
  • Lot: 8
  • Municipality: SALEM
  • Latitude: 42.5304
  • Longitude: -70.8789

    Address

  • Full Address: 47 Memorial Dr
  • Address - House Number: 47
  • Address - Street Name: Memorial
  • Address - Suffix Type: Dr
  • State: MA
  • City Name: Salem
  • Carrier Code: C012
  • 4-Digit Zip Code: 5651
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,811,700

    Appraisal Valuation

  • Standard Deviation: 0.1638
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 79
  • Final Value: 1,767,345
  • High Value: 2,056,838
  • Low Value: 1,477,851

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $1,559,100
  • Assessed Land Value: $343,700
  • Assessed Improvements Value: $1,215,400

    Sales

  • Current Sale Contract Date: Apr 01, 2022
  • Current Sale Recording Date: Apr 26, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20220426001340
  • Previous Sale Recording Date: Nov 26, 2014
  • Previous Sale Amount: $735,000
  • 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 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# 72943763

Frequently Asked Questions

When was property at 47 Memorial Drive built and last sold?
The property at 47 Memorial Drive was built in 1948 and last sold on Apr 1, 2022 for $1,800,000.
How much is this home worth?
The estimated value of the home located at 47 Memorial Drive is $1,409,622.
What are some comparable homes to 47 Memorial Drive?
There are currently no comparable homes to 47 Memorial Drive.
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