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Wakefield 01880
538-R Salem St.
$600,000
● House - Off Market

538-R Salem St.

Wakefield, MA 01880
bedrooms
4 Beds
bathrooms
2 Baths
square feet
2,508 Ft²
$645,031
RealtyHop Estimate
7.52%
Since Jan 1, 2023
MA-Boston
Primary Model

About This Property

FIRST O.H. 10/18/22  4PM-6PM. Unique opportunity to own an affordable 4BR/2BA single family home that has plenty of interior living space as well as much sought after exterior features such as detached garage, spacious yard, balconies, & plenty of additional off street pkg.  The main entrance brings you to the living room, spacious kitchen overlooking backyard plus 3 bedrooms and full bath.  Level 2 consists of a fire-placed (by propane) family room, 4th bedroom, office + 2nd  bath and more!   Home is set back from the main road giving you much privacy and yet still be in close proximity to highways and one of many popular gathering places such as market Street in adjacent town of Lynnfield.  Offers due Wednesday 10/19/22 by 6 PM.
Unit Size
2,508 Ft²
Days on Market
-
Land Size
0.54 acres
Price per sqft
$239
Property Type
House
Property Taxes
$663
HOA Dues
-
Year Built
1958

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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 #73043462)

Price History

Date / Event Date Event Price
Dec 16, 2022 Sold
Premium
Sold
Oct 24, 2022 In contract -
In contract
Oct 1, 2022 Listed by Century 21 CELLI $599,900
Listed by Century 21 CELLI
Apr 27, 2015 Sold
Premium
Sold
Jul 25, 2007 Sold
Premium
Sold
Show More

Property Highlights

Parking Available
Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1958
  • Effective Year Built: 1970
  • Building Count: 1
  • Total Rooms: 9
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 936
  • Garage Type: 7
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 23,344
  • Total Building Area: 2,508
  • Gross Building Area: 3,408
  • Building Area: 2,508
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,508
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000536
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Wakefield School District
  • Census Tract: 335302

Zoning

  • Zoning: SR

Geography

  • Account Number: 80442
  • Parcel: WAKE M:00039A B:0096 P:0016A2
  • Block: 96
  • Municipality: WAKEFIELD
  • Latitude: 42.5111
  • Longitude: -71.0399

    Address

  • Full Address: 538r Salem St
  • Address - House Number: 538r
  • Address - Street Name: Salem
  • Address - Suffix Type: St
  • State: MA
  • City Name: Wakefield
  • Carrier Code: C018
  • 4-Digit Zip Code: 1218
  • Zip Code: 01880

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $678,000

    Appraisal Valuation

  • Standard Deviation: 0.1787
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 76
  • Final Value: 824,916
  • High Value: 972,382
  • Low Value: 677,450

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $602,700
  • Assessed Land Value: $266,000
  • Assessed Improvements Value: $336,700

    Sales

  • Current Sale Contract Date: Dec 16, 2022
  • Current Sale Recording Date: Dec 16, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 35
  • Current Sale Input Document Number: 183547
  • Previous Sale Recording Date: May 04, 2015
  • 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 Wakefield

Stats & Trends

Median Asking:

$775,000

Sale Price/ft²

$454

Below Asking

0.01%

Average Days on Market

49

Average Home Size

2090 ft²

Average Home Age

85.2 years

Currently For Sale

45 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# 73043462

Frequently Asked Questions

When was property at 538 Salem Street built and last sold?
The property at 538 Salem Street was built in 1958 and last sold on Dec 16, 2022 for $600,000.
How much is this home worth?
The estimated value of the home located at 538 Salem Street is $627,211.
What are some comparable homes to 538 Salem Street?
There are currently no comparable homes to 538 Salem Street.
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