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Salem 01970 North Salem
6 Orchard Terrace
$550,000
● House - Off Market

6 Orchard Terrace

Salem, MA 01970
bedrooms
2 Beds
bathrooms
1 Bath
square feet
898 Ft²
$478,517
RealtyHop Estimate
-0.72%
Since Sep 1, 2023
MA-Boston
Primary Model

About This Property

Located in Desirable North Salem cul-da-sac Neighborhood!  This two bedroom ranch features hardwood floors, closed in porch, finished basement with 3/4 bath. Close proximity to train, downtown, shopping and golf course!! See you at the OPEN HOUSE!
Unit Size
898 Ft²
Days on Market
-
Land Size
0.12 acres
Price per sqft
$537
Property Type
House
Property Taxes
$412
HOA Dues
-
Year Built
1953

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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 #73136075)

Price History

Date / Event Date Event Price
Aug 16, 2023 Sold
Premium
Sold
Jul 18, 2023 In contract -
In contract
Jul 13, 2023 Listed by Tache Real Estate, Inc. $482,000
Listed by Tache Real Estate, Inc.
Jun 11, 2004 Sold
Premium
Sold
Mar 22, 2004 Listed by Tache Real Estate, Inc. $299,900
Listed by Tache Real Estate, Inc.

Property Highlights

Parking Available
Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1953
  • Effective Year Built: 1953
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • 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: 898
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,249
  • Total Building Area: 1,572
  • Gross Building Area: 1,970
  • Building Area: 1,572
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,572
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000121
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Ipswich School District
  • School Tax School District: SALEM SD
  • Census Tract: 204600

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:27 L:0400
  • Lot: 400
  • Municipality: SALEM
  • Latitude: 42.5302
  • Longitude: -70.9006

    Address

  • Full Address: 6 Orchard Ter
  • Address - House Number: 6
  • Address - Street Name: Orchard
  • Address - Suffix Type: Ter
  • State: MA
  • City Name: Salem
  • Carrier Code: C027
  • 4-Digit Zip Code: 2407
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $563,200

    Appraisal Valuation

  • Standard Deviation: 0.1844
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 75
  • Final Value: 521,266
  • High Value: 617,381
  • Low Value: 425,151

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $484,700
  • Assessed Land Value: $196,200
  • Assessed Improvements Value: $288,500

    Sales

  • Current Sale Contract Date: Aug 15, 2023
  • Current Sale Recording Date: Aug 16, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20230816000450
  • Previous Sale Recording Date: Jun 11, 2004
  • Previous Sale Amount: $299,900
  • 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 North Salem

Stats & Trends

Median Asking:

$649,900

Sale Price/ft²

$421

Below Asking

0.01%

Average Days on Market

52

Average Home Size

1605 ft²

Average Home Age

102.7 years

Currently For Sale

26 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: 5 months ago
Data Source: MLS PIN, MLS# 73136075

Frequently Asked Questions

When was property at 6 Orchard Terrace built and last sold?
The property at 6 Orchard Terrace was built in 1953 and last sold on Aug 15, 2023 for $550,000.
How much is this home worth?
The estimated value of the home located at 6 Orchard Terrace is $480,185.
What are some comparable homes to 6 Orchard Terrace?
There are currently no comparable homes to 6 Orchard Terrace.
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