$447,500
●
Multifamily -
Off Market
7 Champlain Rd
Salem, MA 01970
4 Beds
2 Baths
1,617 Ft²
$636,357
RealtyHop Estimate
44.96%
Since Apr 1, 2019
MA-Boston
Primary Model
About This Property
OPEN HOUSE CANCELED SUNDAY DUE TO WEATHER.Don't miss out on this
New to Market, affordably priced, well maintained duplex style
multi-family home (separate entrances). Located in the Castle Hill
Area of Salem, MA with (2) 4 room/2 bedroom apartments and separate
utilities. Vinyl exterior, vinyl replacement windows, architectural
shingle roof, (2) 100 amp electric services, (2) forced hot air gas
furnaces, (2) gas hot water tanks. Each unit has hardwood flooring,
tile bathrooms & eat in kitchens with stack washer/dryer units. 1st
flr is leased thru the end of November 2019. 2nd flr is currently
rented for $ 1500. The 2nd floor unit will be vacant 1.31.19
and will be available for the new owner to live in or to rent
out if property is purchased for an investment. During snow
emergency, the owner to right has allowed a 3rd small car to
be parked. This 3rd spot is on the land of the property owner next
door. This is a courtesy and not guaranty.
Unit Size
1,617 Ft²
Days on Market
-
Land Size
0.07 acres
Price per sqft
$271
Property Type
Multifamily
Property Taxes
$479
HOA Dues
-
Year Built
1962
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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 years ago (MLSPIN #72442471)
Price History
Property Highlights
Parking Available
Parking Details
Parking Features: Paved Drive, Off Street, Tandem, Driveway
Interior Details
Full Bathrooms: 2
Interior Features: Unit 1(Bathroom With Tub & Shower), Unit 2(Bathroom With Tub & Shower), Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room, Kitchen)
Appliances: Unit 1(Range, Refrigerator, Washer, Dryer), Unit 2(Range, Refrigerator, Washer, Dryer), Gas Water Heater, Utility Connections for Gas Range, Utility Connections for Electric Range, Utility Connections for Electric Dryer
Flooring Type: Wood, Tile, Hardwood, Unit 1(undefined), Unit 2(Tile Floor, Hardwood Floors)
Rooms: 8
Basement: Partial, Walk-Out Access, Sump Pump, Concrete
Exterior Details
Year Built Source: Public Records
Year Built Details: Approximate
PropertySubType: Duplex
Stories (Total): 3
Building Area Units: Square Feet
Construction Materials: Frame
Patio and Porch Features: Deck, Deck - Wood
Lead Paint: Unknown
Lot Features: Level
Lot Size Area: 0.07
Lot Size Units: Acres
Lot Size Acres: 0.07
Zoning: R2
Parcel Number: M:23 L:0073, 2130864
Water Source: Public
Financial Details
Tax Assessed Value: $373,700
Tax Annual Amount: $5,748
Utilities Details
Utilities: for Gas Range, for Electric Range, for Electric Dryer
Cooling Type: Unit 1(None)
Heating Type: Unit 1(Forced Air, Gas, Individual, Unit Control), Unit 2(Forced Air, Gas, Individual, Unit Control)
Sewer : Public Sewer
Location Details
Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Medical Facility, Conservation Area, House of Worship, Public School, T-Station, University, Sidewalks
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
01/18/2019
| |
4 Bed
|
2 Bath
|
1617 ft²
|
$439,000
4 Bed
2 Bath
1617 ft²
|
$447,500
+1.94%
03/08/2019
|
Gary Blattberg
RE/MAX 360
|
|
07/22/2015
| |
4 Bed
|
2 Bath
|
1617 ft²
|
$334,900
4 Bed
2 Bath
1617 ft²
|
$345,000
+3.02%
09/29/2015
|
Stephen Jalbert
M. Celata Real Estate
|
Building Info
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