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Salem 01970 South Salem
7 Desmond Ter
$480,000
● House - Off Market

7 Desmond Ter

Salem, MA 01970
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,600 Ft²
$605,481
RealtyHop Estimate
34.85%
Since Aug 1, 2020
MA-Boston
Primary Model

About This Property

Ocean Breezes & Seagulls Call! This quiet sea-side neighborhood is where YOU want to live: just 2 blocks to oceanfront Forest River Park beaches & playground, this cape cod style home with full shed dormer offers 4 bedrooms, so you can choose a 1st or 2nd floor master, 2 full baths, hardwood floors, updated kitchen and TWO fireplaces! The lower level is expandable with 2 large semi-finished rooms used for years as studio space, and your home is completed with a garage and a private back yard, all set at the end of a quiet dead-end side street. This neighborhood is one of Salem's best-kept-secrets - see it TODAY!
Unit Size
1,600 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$281
Property Type
House
Property Taxes
$422
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: 6 months ago (MLSPIN #72676735)

Price History

Date / Event Date Event Price
Jul 30, 2020 Sold
Premium
Sold
Jun 18, 2020 Listed by Tache Real Estate, Inc. $449,000
Listed by Tache Real Estate, Inc.
Jan 1, 1976 Sold
Premium
Sold

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1953
  • Effective Year Built: 1953
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 4
  • 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: 916
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,800
  • Total Building Area: 2,037
  • Gross Building Area: 2,933
  • Building Area: 2,037
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,037
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000110
  • 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:0298
  • Lot: 298
  • Municipality: SALEM
  • Latitude: 42.5055
  • Longitude: -70.8883

    Address

  • Full Address: 7 Desmond Ter
  • Address - House Number: 7
  • Address - Street Name: Desmond
  • Address - Suffix Type: Ter
  • State: MA
  • City Name: Salem
  • Carrier Code: C041
  • 4-Digit Zip Code: 5417
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $596,800

    Appraisal Valuation

  • Standard Deviation: 0.1844
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 75
  • Final Value: 673,317
  • High Value: 797,468
  • Low Value: 549,166

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $513,600
  • Assessed Land Value: $194,000
  • Assessed Improvements Value: $319,600

    Sales

  • Current Sale Contract Date: Jul 24, 2020
  • Current Sale Recording Date: Jul 30, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200730004270
  • Previous Sale Recording Date: Jan 01, 1976
  • Previous Sale Amount: $32,000
  • 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:

$615,000

Sale Price/ft²

$368

Below Asking

0.02%

Average Days on Market

56

Average Home Size

1730 ft²

Average Home Age

90.6 years

Currently For Sale

39 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: 6 months ago
Data Source: MLS PIN, MLS# 72676735

Frequently Asked Questions

When was property at 7 Desmond Terrace built and last sold?
The property at 7 Desmond Terrace was built in 1953 and last sold on Jul 24, 2020 for $480,000.
How much is this home worth?
The estimated value of the home located at 7 Desmond Terrace is $460,456.
What are some comparable homes to 7 Desmond Terrace?
There are currently no comparable homes to 7 Desmond Terrace.
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