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Salem 01970 North Salem
5 Lee St.
$535,000
● House - Off Market

5 Lee St.

Salem, MA 01970
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,632 Ft²
$797,895
RealtyHop Estimate
48.03%
Since Sep 1, 2018
MA-Boston
Primary Model

About This Property

Classic center entrance colonial on a beautifully tree lined street. Exceptional period detail, updated open kitchen and dining area leads to private back deck and nice yard, great for children and entertaining. Thermador fridge and gas stove. Bosch D.W. Gas grilled plumbed into home.Front to back living room and 1/2 bath on main level. Three nicely sized bedrooms, 2 full baths, ( one is a master bath) and laundry on second level. Walk in closet in master as well. Great ceiling height throughout. Full basement, 2 car garage, Four car driveway.  Walk to playgrounds and water. Close to commuter rail station and Downtown Salem. An excellent family home and neighborhood.
Unit Size
1,632 Ft²
Days on Market
-
Land Size
0.17 acres
Price per sqft
$330
Property Type
House
Property Taxes
$504
HOA Dues
-
Year Built
1915

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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 #72331043)

Price History

Date / Event Date Event Price
Aug 1, 2018 Sold
Premium
Sold
May 20, 2018 Listed by Sagan Harborside Sotheby's International Realty $539,000
Listed by Sagan Harborside Sotheby's International Realty
Sep 26, 2014 Sold
Premium
Sold
Aug 7, 2014 Listed by Sagan Harborside Sotheby's International Realty $419,900
Listed by Sagan Harborside Sotheby's International Realty
Feb 6, 2006 Sold
Premium
Sold
Show More

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1915
  • Effective Year Built: 1915
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • 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: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 816
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,501
  • Total Building Area: 1,632
  • Gross Building Area: 2,740
  • Building Area: 1,632
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 16
  • Heated Square Feet: 1,632
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000172
  • 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: 204600

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:27 L:0486
  • Lot: 486
  • Municipality: SALEM
  • Latitude: 42.5312
  • Longitude: -70.8998

    Address

  • Full Address: 5 Lee St
  • Address - House Number: 5
  • Address - Street Name: Lee
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C027
  • 4-Digit Zip Code: 2421
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $845,200

    Appraisal Valuation

  • Standard Deviation: 0.1588
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 773,233
  • High Value: 907,302
  • Low Value: 639,163

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $727,400
  • Assessed Land Value: $213,600
  • Assessed Improvements Value: $513,800

    Sales

  • Current Sale Recording Date: Aug 01, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 180801003140
  • Previous Sale Recording Date: Sep 26, 2014
  • Previous Sale Amount: $425,900
  • Previous Sale Document Type: O

    Financing

  • First Mortgage Financing Type: UNK
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 North Salem

Stats & Trends

Median Asking:

$659,000

Sale Price/ft²

$422

Below Asking

0.01%

Average Days on Market

51

Average Home Size

1638 ft²

Average Home Age

99.7 years

Currently For Sale

22 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# 72331043

Frequently Asked Questions

When was property at 5 Lee Street built and last sold?
The property at 5 Lee Street was built in 1915 and last sold on Jan 1, 1970 for $535,000.
How much is this home worth?
The estimated value of the home located at 5 Lee Street is $546,062.
What are some comparable homes to 5 Lee Street?
There are currently no comparable homes to 5 Lee Street.
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