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Salem 01970 South Salem
48 Hanson St
$400,000
● House - Off Market

48 Hanson St

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,676 Ft²
$493,796
RealtyHop Estimate
9.76%
Since Feb 1, 2022
MA-Boston
Primary Model

About This Property

OPEN HOUSE SUNDAY 11/21 from 12-1:30 Welcome to 48 Hanson Street! This three bedroom home is in a fantastic neighborhood located directly across from the upper gallows hill park! The interior is spacious with an open concept kitchen/living room area, large bedrooms and has a boat load of potential. The exterior features a generous sized fenced in yard, a newer roof, garage and a trex deck off the kitchen. The home is located close to public schools, public transportation, downtown Salem and Peabody, and so much more. Property will be sold AS-IS and needs updating.
Unit Size
1,676 Ft²
Days on Market
-
Land Size
0.09 acres
Price per sqft
$268
Property Type
House
Property Taxes
$413
HOA Dues
-
Year Built
1961

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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 #72916136)

Price History

Date / Event Date Event Price
Jan 19, 2022 Sold
Premium
Sold
Nov 3, 2021 Listed by Shea Real Estate $449,900
Listed by Shea Real Estate

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1961
  • Effective Year Built: 1961
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,021
  • Total Building Area: 1,676
  • Gross Building Area: 2,549
  • Building Area: 1,676
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,676
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000092
  • 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: 204702

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:15 L:0254
  • Lot: 254
  • Municipality: SALEM
  • Latitude: 42.5177
  • Longitude: -70.9136

    Address

  • Full Address: 48 Hanson St
  • Address - House Number: 48
  • Address - Street Name: Hanson
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C036
  • 4-Digit Zip Code: 1345
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $596,600

    Appraisal Valuation

  • Standard Deviation: 0.1902
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 74
  • Final Value: 538,354
  • High Value: 640,763
  • Low Value: 435,945

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $513,400
  • Assessed Land Value: $190,200
  • Assessed Improvements Value: $323,200

    Sales

  • Current Sale Contract Date: Jan 19, 2022
  • Current Sale Recording Date: Jan 19, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 633177
  • Previous Sale Recording Date: Aug 30, 2016
  • Previous Sale Contract Date: Mar 22, 2016
  • 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 South Salem

Stats & Trends

Median Asking:

$619,000

Sale Price/ft²

$370

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2188 ft²

Average Home Age

89.2 years

Currently For Sale

45 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# 72916136

Frequently Asked Questions

When was property at 48 Hanson Street built and last sold?
The property at 48 Hanson Street was built in 1961 and last sold on Jan 19, 2022 for $400,000.
How much is this home worth?
The estimated value of the home located at 48 Hanson Street is $461,129.
What are some comparable homes to 48 Hanson Street?
There are currently no comparable homes to 48 Hanson Street.
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