5 Palmer Street

5 Palmer Street has been categorized by the local assessors in Salem, MA as a residential type of property. The building on the property was first built in 1915 and is 109 years old. The home has a total of 18 rooms. 9 of these rooms are legally considered as bedrooms. Residents will have access to 3 full bathrooms. There are 3 partial bathrooms in the home. The building has a total of 3 stories. In addition, 5 Palmer Street has 3,526 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 2,557 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a triplex style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Moving on to the building itself. The condition of the building has been evaluated as average. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with frame control joints. The building has a gable style roof made of asphalt. The exterior walls of the building are made of wood siding. In terms of heating, it is utilizing a hot water heating system and being fueled with oil. The property was last sold in Mar 12, 2020 for $630,000. That's $178.67 per sqft. Prior to that sales transaction, the property was also sold in Jan 1, 1970 for $382,000. 5 Palmer Street was last assessed in 2024. The total value of the property was assessed at $681,600. Specifically, the land the property is located on was valued at $143,700. While improvements on the property were assessed at a total of $537,900. The total assessed value for this property is more than the total market value as of this moment. Which is pretty atypical. The total amount of taxes due from a property owner is $7,920. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry! Unfortunately, this property is not currently listed for sale but our inventory of available properties is constantly updating in real time. Check back frequently for updates.