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Salem 01970 South Salem
486 Loring Avenue
Photo of 486 Loring Avenue

1

Map

$319,000
● House - Off Market

486 Loring Avenue

Salem, MA 01970
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
2,131 Ft²
$1,948
Est. Monthly

About This Property

Open House Sunday, June 26th 12:30 - 2:00.  Charming 1950 Colonial with 1 car detached garage. Front porch and 3 seasoned porch.  Fenced-in backyard situated on side street neighborhood.   Convenient to shopping, MBTA bus stop on corner, near commuter trains, walk to Salem State University, South Campus.  House was expanded in 1985.  Newer roof, electrical and heating system.  Oversized bedrooms with vaulted ceilings and walk-closets.  Fully finished lower level.  Lots of storage.
Unit Size
2,131 Ft²
Days on Market
-
Land Size
0.13 acres
Price per sqft
$150
Property Type
House
Property Taxes
$381
HOA Dues
-
Year Built
1950

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 3 months ago (MLSPIN #71240910)

Price History

Date / Event Date Event Price
Aug 1, 2012 Sold
Premium
Sold
Mar 14, 2012 Listed by Keller Williams Realty Evolution $299,900
Listed by Keller Williams Realty Evolution
Jun 1, 2011 Listed by Keller Williams Realty Evolution $319,000
Listed by Keller Williams Realty Evolution
Dec 15, 1998 Sold
Premium
Sold
Aug 3, 1998 Listed by Keller Williams Realty Evolution $179,900
Listed by Keller Williams Realty Evolution

Property Highlights

Garage
Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Building Count: 1
  • Total Rooms: 3
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • 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: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,094
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,502
  • Total Building Area: 2,897
  • Gross Building Area: 3,612
  • Building Area: 2,897
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,897
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LESTER B BRACKETT
  • Land Acres: 0000000126
  • 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: 204102

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:21 L:0142
  • Lot: 142
  • Municipality: SALEM
  • Latitude: 42.4891
  • Longitude: -70.8979

    Address

  • Full Address: 486 Loring Ave
  • Address - House Number: 486
  • Address - Street Name: Loring
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C026
  • 4-Digit Zip Code: 4216
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $662,700

    Appraisal Valuation

  • Standard Deviation: 0.1651
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 79
  • Final Value: 672,594
  • High Value: 783,662
  • Low Value: 561,525

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $570,300
  • Assessed Land Value: $179,200
  • Assessed Improvements Value: $391,100

    Sales

  • Current Sale Recording Date: Aug 01, 2012
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Previous Sale Recording Date: Dec 15, 1998
  • Previous Sale Amount: $175,000
  • 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:

$620,000

Sale Price/ft²

$369

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

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Last Updated: 3 months ago
Data Source: MLS PIN, MLS# 71240910

Frequently Asked Questions

When was property at 486 Loring Avenue built and last sold?
The property at 486 Loring Avenue was built in 1950 and last sold on Jan 1, 1970 for $301,000.
How much is this home worth?
The estimated value of the home located at 486 Loring Avenue is $320,915.
What are some comparable homes to 486 Loring Avenue?
There are currently no comparable homes to 486 Loring Avenue.
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