48 Summer Street
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 |
|---|---|---|---|
| Aug 29, 2025 | Sold | ||
| Sold | |||
| Jul 23, 2025 | In contract | - | |
| In contract | |||
| Jul 15, 2025 | Listed by eXp Realty | $875,000 | |
| Listed by eXp Realty | |||
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Located in one of Danvers’ most desirable neighborhoods, close to St. John's Prep; this beautifully maintained oversized ranch offers the perfect blend of space, comfort, and design. Step inside to an open-concept living, dining area, & kitchen boasting HW floors; ideal for both everyday living & entertaining. The upgraded kitchen features SS appliances, granite countertops, & a spacious island perfect for gatherings of any size. Cozy up by the fireplace in the inviting living room for a relaxing night in. Down the hall, you’ll find 2 generous bedrooms, a full bath, & a SERENE PRIMARY SUITE. Finished lower level offers flexible space for a family room, gym, office, or playroom, plus laundry and storage. A mudroom leads to a private patio and inviting outdoor living. Enjoy miles of sidewalks with downtown Danvers just 1 mile away—perfect for coffee runs. OH Thu 5-6:30pm, Sat & Sun 11:30-1pm. *All Offers Due For Seller Review by 1pm Tue 7/22*
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| Jul 30, 2015 | Sold | ||
| Sold | |||
| May 28, 2015 | Listed by Coldwell Banker Residential Brokerage - Lynnfield | $525,000 | |
| Listed by Coldwell Banker Residential Brokerage - Lynnfield | |||
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