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Salem 01970 Salem Neck
5 Oliver St
$1,000,000
● House - Off Market

5 Oliver St

Salem, MA 01970
bedrooms
7 Beds
bathrooms
3 Baths, 2 Half Baths
square feet
3,919 Ft²
$6,871
Est. Monthly

About This Property

Welcome home! This charming Historic Greek Revival home, built circa 1820, for the Nathanial Perkins family, blends timeless elegance with potential for modern living. Just moments from Salem Common, adjacent to downtown, and less than a mile from the T Station, it offers an unbeatable location. The spacious, light-filled interior spans four levels, featuring thoughtfully designed spaces ready for transformation. The generous backyard, a rare find near downtown, provides a peaceful retreat, while the driveway accommodates parking for 2+ vehicles-a true bonus.  This property presents an exciting opportunity to restore and enhance its historic charm, making it uniquely yours.
Unit Size
3,919 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$306
Property Type
House
Property Taxes
$983
HOA Dues
-
Year Built
1820

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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: 5 months ago (MLSPIN #73291245)

Price History

Date / Event Date Event Price
Dec 19, 2024 Sold
Premium
Sold
Nov 19, 2024 In contract -
In contract
Nov 6, 2024 Price Increased $1,199,000
↑ $349K (41.1%)
Price Increased
Oct 17, 2024 Relisted $850,000
Relisted
Oct 9, 2024 In contract -
In contract
Show More

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1820
  • Effective Year Built: 1820
  • Building Count: 1
  • Total Rooms: 11
  • Bedroom Count: 6
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 27
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 6
  • Floor Count: 300
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,610
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,661
  • Total Building Area: 3,919
  • Gross Building Area: 6,257
  • Building Area: 3,919
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 3,919
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000107
  • 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: 204400

Zoning

  • Zoning: R2

Geography

  • Parcel: SALE M:35 L:0110
  • Lot: 110
  • Municipality: SALEM
  • Latitude: 42.5252
  • Longitude: -70.8906

    Address

  • Full Address: 5 Oliver St
  • Address - House Number: 5
  • Address - Street Name: Oliver
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C003
  • 4-Digit Zip Code: 3817
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,180,100

    Appraisal Valuation

  • Standard Deviation: 0.216
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 70
  • Final Value: 1,222,499
  • High Value: 1,486,331
  • Low Value: 958,667

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $1,015,600
  • Assessed Land Value: $193,300
  • Assessed Improvements Value: $822,300

    Sales

  • Current Sale Recording Date: Jun 29, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 180629006970
  • Previous Sale Recording Date: Jul 24, 1998
  • Previous Sale Amount: $170,000
  • Previous Sale Document Type: 27

    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 Salem Neck

Stats & Trends

Median Asking:

$569,900

Sale Price/ft²

$446

Below Asking

0.02%

Average Days on Market

57

Average Home Size

1378 ft²

Average Home Age

165.5 years

Currently For Sale

13 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: 5 months ago
Data Source: MLS PIN, MLS# 73291245

Frequently Asked Questions

When was property at 5 Oliver Street built and last sold?
The property at 5 Oliver Street was built in 1820 and last sold on Jan 1, 1970 for $850,000.
How much is this home worth?
The estimated value of the home located at 5 Oliver Street is $1,181,906.
What are some comparable homes to 5 Oliver Street?
There are currently no comparable homes to 5 Oliver Street.
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