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Salem 01970 South Salem
7 Bow Street
$395,500
● House - Off Market

7 Bow Street

Salem, MA 01970
bedrooms
2 Beds
bathrooms
1 Bath
square feet
875 Ft²
$406,421
RealtyHop Estimate
7.23%
Since Dec 1, 2022
MA-Boston
Primary Model

About This Property

Super cute single family home just minutes from the best of historic and vibrant downtown Salem. With trendy wide pine floors, the living room is a soothing blue that connects to a charming dining room.  Spacious kitchen with lots of counter space for prep or additional seating.  Updated full bathroom conveniently located on this level. Two good sized sunny bedrooms on the second floor, one of which was freshly painted. Screened in porch is perfect to enjoy the changing seasons. Plenty of storage space in basement, plus two car parking and cozy patio space outside. Tired of Renting? Looking for your first home? This is it!  Great condo alternative ideally located near shopping, restaurants, the commuter rail and more!
Unit Size
875 Ft²
Days on Market
-
Land Size
0.04 acres
Price per sqft
$433
Property Type
House
Property Taxes
$340
HOA Dues
-
Year Built
1856

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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 #73044027)

Price History

Date / Event Date Event Price
Nov 30, 2022 Sold
Premium
Sold
Oct 12, 2022 In contract -
In contract
Oct 4, 2022 Listed by Sagan Harborside Sotheby's International Realty $379,000
Listed by Sagan Harborside Sotheby's International Realty
Jul 1, 2014 Sold
Premium
Sold
Apr 10, 2014 Listed by Sagan Harborside Sotheby's International Realty $199,000
Listed by Sagan Harborside Sotheby's International Realty
Show More

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1856
  • Effective Year Built: 1856
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 1
  • 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: 620
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 1,904
  • Total Building Area: 875
  • Gross Building Area: 1,832
  • Building Area: 875
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 875
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000044
  • 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:16 L:0026
  • Lot: 26
  • Municipality: SALEM
  • Latitude: 42.5213
  • Longitude: -70.918

    Address

  • Full Address: 7 Bow St
  • Address - House Number: 7
  • Address - Street Name: Bow
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C038
  • 4-Digit Zip Code: 1113
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $429,700

    Appraisal Valuation

  • Standard Deviation: 0.2635
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 60
  • Final Value: 425,141
  • High Value: 542,967
  • Low Value: 307,314

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $369,800
  • Assessed Land Value: $162,400
  • Assessed Improvements Value: $207,400

    Sales

  • Current Sale Contract Date: Nov 30, 2022
  • Current Sale Recording Date: Nov 30, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20221130003210
  • Previous Sale Recording Date: Jul 01, 2014
  • Previous Sale Amount: $199,000
  • Previous Sale Document Type: O
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

$368

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# 73044027

Frequently Asked Questions

When was property at 7 Bow Street built and last sold?
The property at 7 Bow Street was built in 1856 and last sold on Nov 30, 2022 for $395,500.
How much is this home worth?
The estimated value of the home located at 7 Bow Street is $370,806.
What are some comparable homes to 7 Bow Street?
There are currently no comparable homes to 7 Bow Street.
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