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Salem 01970 South Salem
48 Summit Avenue
Photo of 48 Summit Avenue
Sold on Jun 30, 2011

1

Map

$290,000
● House - Off Market

48 Summit Avenue

Salem, MA 01970
bedrooms
4 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,984 Ft²
$616,661
RealtyHop Estimate
105.55%
Since Jul 1, 2011
MA-Boston
Primary Model

About This Property

Lovely custom- built Garrison Colonial in desirable Forest River Park neighborhood! Endless possibilites..from sitting in the fireplaced living room to enjoying your iced lemonade in enclosed porch area and backyard! Walk to beach, park, commuter rail and downtown Salem.
Unit Size
1,984 Ft²
Days on Market
-
Land Size
-
Price per sqft
$151
Property Type
House
Property Taxes
$401
HOA Dues
-
Year Built
1965

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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 #71229917)

Price History

Date / Event Date Event Price
Jun 30, 2011 Sold
Premium
Sold
May 10, 2011 Listed by Coldwell Banker Residential Brokerage - Salem $300,000
Listed by Coldwell Banker Residential Brokerage - Salem

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1965
  • Effective Year Built: 1965
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • 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: 7
  • Basement Area: 768
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,998
  • Total Building Area: 1,600
  • Gross Building Area: 2,512
  • Building Area: 1,600
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,600
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: EDWARD T & ELEANOR NORTON
  • Land Acres: 0000000138
  • 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: 204101

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:33 L:0419
  • Lot: 419
  • Municipality: SALEM
  • Latitude: 42.5074
  • Longitude: -70.8901

    Address

  • Full Address: 48 Summit Ave
  • Address - House Number: 48
  • Address - Street Name: Summit
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C041
  • 4-Digit Zip Code: 5469
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $683,500

    Appraisal Valuation

  • Standard Deviation: 0.1612
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 676,754
  • High Value: 795,561
  • Low Value: 557,947

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $588,200
  • Assessed Land Value: $199,900
  • Assessed Improvements Value: $388,300

    Sales

  • Current Sale Recording Date: Jun 30, 2011
  • Current Sale Price:
    Premium
  • Current 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:

$619,500

Sale Price/ft²

$370

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2207 ft²

Average Home Age

89.3 years

Currently For Sale

47 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# 71229917

Frequently Asked Questions

When was property at 48 Summit Avenue built and last sold?
The property at 48 Summit Avenue was built in 1965 and last sold on Jan 1, 1970 for $290,000.
How much is this home worth?
The estimated value of the home located at 48 Summit Avenue is $322,904.
What are some comparable homes to 48 Summit Avenue?
There are currently no comparable homes to 48 Summit Avenue.
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