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Salem 01970 South Salem
6 Fairview Road
$700,000
● House - Off Market

6 Fairview Road

Salem, MA 01970
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,378 Ft²
$743,663
RealtyHop Estimate
6.25%
Since Nov 1, 2022
MA-Boston
Primary Model

About This Property

Great opportunity to own in this beautiful seaside neighborhood of Salem.  This is the first offering of this home, in nearly 30 years!  Meticulously maintained and lovingly cared for, this home has checked off the 'big ticket items' with all new windows, new vinyl siding, new doors, upgraded garage doors, upgraded electrical, new kitchen appliances, 5-year old roof.  3 large bedrooms, 2-1/2 baths, hardwood floors, and a sun-room that faces the ocean side with a wood-burning fireplace.  Garage is wired for an electric car charger.  Close proximity to the recently renovated Forest River Park, Historic Downtown Salem, restaurants, shops, Sophia Gordon Theater, biking and walking trails. Showings to begin immediately.
Unit Size
2,378 Ft²
Days on Market
-
Land Size
0.16 acres
Price per sqft
$294
Property Type
House
Property Taxes
$546
HOA Dues
-
Year Built
1960

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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: 4 months ago (MLSPIN #73022644)

Price History

Date / Event Date Event Price
Oct 14, 2022 Sold
Premium
Sold
Sep 27, 2022 Price Decreased $699,900
↓ $39K (5.3%)
Price Decreased
Sep 27, 2022 In contract -
In contract
Sep 27, 2022 Relisted $699,900
Relisted
Sep 27, 2022 Price Increased $739,000
↑ $39K (5.6%)
Price Increased
Show More

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1960
  • Effective Year Built: 1960
  • 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: 41
  • Exterior Walls Type: 18
  • 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: 1,468
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,800
  • Total Building Area: 2,040
  • Gross Building Area: 3,112
  • Building Area: 2,040
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 2,040
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000156
  • 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: 204101

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:32 L:0368
  • Lot: 368
  • Municipality: SALEM
  • Latitude: 42.5029
  • Longitude: -70.8884

    Address

  • Full Address: 6 Fairview Rd
  • Address - House Number: 6
  • Address - Street Name: Fairview
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Salem
  • Carrier Code: C024
  • 4-Digit Zip Code: 5302
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $734,600

    Appraisal Valuation

  • Standard Deviation: 0.1769
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 737,866
  • High Value: 868,365
  • Low Value: 607,367

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $632,200
  • Assessed Land Value: $244,500
  • Assessed Improvements Value: $387,700

    Sales

  • Current Sale Contract Date: Oct 14, 2022
  • Current Sale Recording Date: Oct 14, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20221014003120
  • Previous Sale Recording Date: May 18, 1995
  • Previous Sale Amount: $205,833
  • 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

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: 4 months ago
Data Source: MLS PIN, MLS# 73022644

Frequently Asked Questions

When was property at 6 Fairview Road built and last sold?
The property at 6 Fairview Road was built in 1960 and last sold on Oct 14, 2022 for $700,000.
How much is this home worth?
The estimated value of the home located at 6 Fairview Road is $720,134.
What are some comparable homes to 6 Fairview Road?
There are currently no comparable homes to 6 Fairview Road.
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