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Salem 01970 South Salem
7 Barnes Rd
$365,000
● House - Off Market

7 Barnes Rd

Salem, MA 01970
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,104 Ft²
$672,753
RealtyHop Estimate
82.32%
Since Oct 1, 2014
MA-Boston
Primary Model

About This Property

Like New home rebuilt in 2006 in a private neighborhood on a 1/4 acre lot.  Roof, framing, siding, windows, heat, electric, plumbing, kitchen, baths, flooring, etc.  Everything is updated.  The first floor offers a great layout with open space and highs ceilings, huge eat-in kitchen, family room addition with access to large deck, large and bright living room at front of home, and full bath with laundry.  The second floor has 3 generous bedrooms, large master bedroom with possibilities for walk in closet, and access to walk up attic with potential for finished space.  Some of the features include hardwood floors through the entire home, good storage, great yard with full sun and shade, detached garage, 1st floor laundry.  Great location with easy access to shopping on Highland Ave.
Unit Size
2,104 Ft²
Days on Market
-
Land Size
0.23 acres
Price per sqft
$175
Property Type
House
Property Taxes
$414
HOA Dues
-
Year Built
1936

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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: 4 months ago (MLSPIN #71730458)

Price History

Date / Event Date Event Price
Sep 26, 2014 Sold
Premium
Sold
Aug 18, 2014 Listed by Keller Williams Realty Evolution $369,000
Listed by Keller Williams Realty Evolution

Property Highlights

Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 1936
  • Effective Year Built: 1985
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • 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: 7
  • Basement Area: 950
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,093
  • Total Building Area: 1,914
  • Gross Building Area: 3,273
  • Building Area: 1,914
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,914
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000232
  • 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: 204701

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:03 L:0097
  • Lot: 97
  • Municipality: SALEM
  • Latitude: 42.4966
  • Longitude: -70.9303

    Address

  • Full Address: 7 Barnes Rd
  • Address - House Number: 7
  • Address - Street Name: Barnes
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Salem
  • Carrier Code: C030
  • 4-Digit Zip Code: 1709
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $673,600

    Appraisal Valuation

  • Standard Deviation: 0.1736
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 695,173
  • High Value: 815,835
  • Low Value: 574,510

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $579,700
  • Assessed Land Value: $199,500
  • Assessed Improvements Value: $380,200

    Sales

  • Current Sale Contract Date: Sep 26, 2014
  • Current Sale Recording Date: Sep 26, 2014
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 555856
  • Previous Sale Recording Date: Jun 15, 2009
  • Previous Sale Document Type: 48

    Previous Mortgages

  • Previous Mortgage Lender:
    Premium
  • Previous Mortgage Transaction Date:
    Premium
  • Previous Mortgage Loan Amount:
    Premium
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

$369

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2218 ft²

Average Home Age

86.1 years

Currently For Sale

44 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# 71730458

Frequently Asked Questions

When was property at 7 Barnes Road built and last sold?
The property at 7 Barnes Road was built in 1936 and last sold on Sep 26, 2014 for $365,000.
How much is this home worth?
The estimated value of the home located at 7 Barnes Road is $394,895.
What are some comparable homes to 7 Barnes Road?
There are currently no comparable homes to 7 Barnes Road.
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