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Salem 01970 South Salem
507 Loring Ave
$413,000
● House - Off Market

507 Loring Ave

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,432 Ft²
$599,803
RealtyHop Estimate
49.99%
Since Feb 1, 2019
MA-Boston
Primary Model

About This Property

Open House Sunday December 16th from 11 to 1!! Come home to this well-kept Craftsman Style Bungalow! Located in desirable South Salem, this beautiful updated home has a large kitchen with newer stainless steel appliances & granite counter-tops, newer heating system, hot water tank, roof  The first floor offers a nice layout with 2 bedrooms, a full bath, living room, dining room, kitchen & 3 season porch. The upper floor offers a bonus 1/4 bath, and 2 extra rooms, great for home office, additional Master Bedroom with walk in closet & 1/4 Bath or playroom. Tons of room in the basement for storage or to be finished into additional living space. Enjoy your private fenced-in backyard with patio & detached 2 car garage.
Unit Size
1,432 Ft²
Days on Market
-
Land Size
0.13 acres
Price per sqft
$279
Property Type
House
Property Taxes
$438
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: 5 months ago (MLSPIN #72414956)

Price History

Date / Event Date Event Price
Jan 24, 2019 Sold
Premium
Sold
Oct 24, 2018 Listed by RyVal Homes $399,900
Listed by RyVal Homes
Oct 2, 2015 Sold
Premium
Sold
Aug 21, 2015 Listed by RyVal Homes $329,000
Listed by RyVal Homes
Mar 31, 2006 Sold
Premium
Sold
Show More

Property Highlights

Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 1915
  • Effective Year Built: 1915
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 8
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,157
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,763
  • Total Building Area: 1,432
  • Gross Building Area: 3,506
  • Building Area: 1,432
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,432
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000132
  • 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:0211
  • Lot: 211
  • Municipality: SALEM
  • Latitude: 42.4872
  • Longitude: -70.8996

    Address

  • Full Address: 507 Loring Ave
  • Address - House Number: 507
  • Address - Street Name: Loring
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C026
  • 4-Digit Zip Code: 7114
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $657,000

    Appraisal Valuation

  • Standard Deviation: 0.1736
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 76
  • Final Value: 645,853
  • High Value: 761,181
  • Low Value: 530,525

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $565,400
  • Assessed Land Value: $180,400
  • Assessed Improvements Value: $385,000

    Sales

  • Current Sale Contract Date: Jan 18, 2019
  • Current Sale Recording Date: Jan 24, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20190124002820
  • Previous Sale Recording Date: Oct 02, 2015
  • Previous Sale Amount: $327,900
  • Previous Sale Document Type: O
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:

$616,750

Sale Price/ft²

$370

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2069 ft²

Average Home Age

86.2 years

Currently For Sale

41 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

Rentals Near You

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Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 72414956

Frequently Asked Questions

When was property at 507 Loring Avenue built and last sold?
The property at 507 Loring Avenue was built in 1915 and last sold on Jan 18, 2019 for $413,000.
How much is this home worth?
The estimated value of the home located at 507 Loring Avenue is $408,886.
What are some comparable homes to 507 Loring Avenue?
There are currently no comparable homes to 507 Loring Avenue.
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