For Sale
For Rent
Blog
Property Records
Schools
SEARCH
Property Records
For Sale
For Rent
MORE
Blog
Schools
See Home Value
Salem 01970 South Salem
54 Summit St
Photo of 54 Summit St
Sold on May 1, 2025

20

Map

Photo of 54 Summit St
Photo of 54 Summit St
$675,000
● House - Off Market

54 Summit St

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
2,297 Ft²
$3,807
Est. Monthly
4.77%
Cap Rate

About This Property

First Showings at the Open House March 23 Sunday 12 - 2 PM.  Large single family home in the desirable Witchcraft Heights section of Salem. 3 bedrooms, one full and 1 half baths, large living area with a wood burning stove and great room right off the kitchen that goes out to a good size porch overlooking the oversize level yard with a good size storage shed. High end heating system with a superstore water heater installed this year.  Newer roof installed within the past 5 years. Needs interior paint job, carpets and floors refinishing. Close to Downtown Salem, easy highway access and convenient to shopping.
Unit Size
2,297 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$283
Property Type
House
Property Taxes
$615
HOA Dues
-
Year Built
1966

Payment Calculator

Home Price
Down Payment
%
Loan Term
Interest %

Your Estimated Monthly Payment

Principal + Interest:
Property Tax:
HOA:
Home Insurance:
Mortgage Insurance:

Cap Rate Calculator

Purchase Price
Monthly Property Taxes
Monthly Rental Income
Maintenance & HOA
Income Per Year
Expenses Per Year
Operating Profit Per Year
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: 2 years ago (MLSPIN #73347582)

Price History

Date / Event Date Event Price
May 1, 2025 Sold
Premium
Sold
Mar 25, 2025 In contract -
In contract
Mar 19, 2025 Listed $650,000
Listed
May 1, 2001 Sold
Premium
Sold
Oct 23, 1987 Sold
Premium
Sold

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1966
  • Effective Year Built: 1966
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 19
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,074
  • Garage Type: 17
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,599
  • Total Building Area: 2,297
  • Gross Building Area: 3,019
  • Building Area: 2,297
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,297
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: WITCHCRAFT HEIGHTS
  • Land Acres: 0000000197
  • 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: 204702

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:15 L:0534
  • Lot: 534
  • Municipality: SALEM
  • Latitude: 42.517
  • Longitude: -70.9173

    Address

  • Full Address: 54 Summit St
  • Address - House Number: 54
  • Address - Street Name: Summit
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C038
  • 4-Digit Zip Code: 1252
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $699,400
  • Initial Tax Delinquent Year: 2024

    Appraisal Valuation

  • Standard Deviation: 0.1524
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 81
  • Final Value: 671,150
  • High Value: 773,457
  • Low Value: 568,844

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $601,900
  • Assessed Land Value: $219,100
  • Assessed Improvements Value: $382,800

    Sales

  • Current Sale Recording Date: May 01, 2001
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: Oct 23, 1987
  • Previous Sale Amount: $185,000
  • 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 South Salem

Stats & Trends

Median Asking:

$619,000

Sale Price/ft²

$370

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2270 ft²

Average Home Age

87.2 years

Currently For Sale

43 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

Click here to view more rentals in the neighborhood.
Last Updated: 2 years ago
Data Source: MLS PIN, MLS# 73347582

Frequently Asked Questions

When was property at 54 Summit Street built and last sold?
The property at 54 Summit Street was built in 1966 and last sold on Jan 1, 1970 for $268,500.
How much is this home worth?
The estimated value of the home located at 54 Summit Street is $0.
What are some comparable homes to 54 Summit Street?
There are currently no comparable homes to 54 Summit Street.
Recent Neighborhood News
Lake House Prices Near NYC in 2026: What Waterfront Actually Costs (Labor Day Buyer's Guide)
9 New York City Seafood and Raw Bars
Why Some NYC Tenement Apartments Had Bathtubs in the Kitchen
The Current Status of iBuying in 2026: What To Know
Popular Searches
Salem Homes for Sale
Salem Houses for Sale
Salem Condos for Sale
Salem Townhouses for Sale
Salem Multifamily for Sale
Salem Land for Sale
Salem Commercial for Sale
Salem Homes with Basements
Nearby Cities
Lynn Homes for Sale
Medford Homes for Sale
Arlington Homes for Sale
Peabody Homes for Sale
Beverly Homes for Sale
Malden Homes for Sale
Revere Homes for Sale
Woburn Homes for Sale
Nearby Property Records
Suffolk County, MA Property Records
Essex County, MA Property Records
Middlesex County, MA Property Records
Norfolk County, MA Property Records
Rockingham County, NH Property Records
Plymouth County, MA Property Records
Hillsborough County, NH Property Records
Worcester County, MA Property Records
Neighborhoods
Maplewood Real Estate
West Revere Real Estate
Glendale Real Estate
Downtown Woburn Real Estate
Winchester Town Center Real Estate
Arlington Center Real Estate
Peabody Town Center Real Estate
Glenwood Real Estate
Nearby Counties
Lynn Homes for Sale
Medford Homes for Sale
Arlington Homes for Sale
Peabody Homes for Sale
Beverly Homes for Sale
Malden Homes for Sale
Revere Homes for Sale
Woburn Homes for Sale
Top Real Estate Agents
Top Agents in South Salem
Top Agents in Salem
Top Agents in Lynn
Top Agents in Lynn
Top Agents in 01970
Top Agents in 02155
Top Agents in Medford
Top Agents in Medford