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Salem 01970 Salem Neck
7 Herbert St.
$650,000
● House - Off Market

7 Herbert St.

Salem, MA 01970
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,238 Ft²
$599,000
RealtyHop Estimate
0.00%
Since Dec 1, 2023
MA-Boston
Primary Model

About This Property

Here's your chance to own a single family in the Historic Derby Street Neighborhood!  This move-in ready 3 bedroom/2 1/4 bath antique has undergone recent updates including new white shaker cabinetry, quartz countertops, new dishwasher, and vinyl plank flooring in the kitchen, beautiful refinished hardwood flooring, freshly skimmed walls and ceilings.  This property, once part of the Cook Estate, has off-street parking for one car, a small backyard patio and perimeter garden space.  Steps from Salem Common, Pickering Wharf, Peabody Essex Museum, and numerous shops, restaurants and bars.  Approximately 1/2 mile to train to Boston and points north. Let this home be your oasis in a prime downtown location!
Unit Size
1,238 Ft²
Days on Market
-
Land Size
0.05 acres
Price per sqft
$484
Property Type
House
Property Taxes
$423
HOA Dues
-
Year Built
1800

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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 #73160956)

Price History

Date / Event Date Event Price
Nov 8, 2023 Sold
Premium
Sold
Sep 29, 2023 In contract -
In contract
Sep 19, 2023 Listed by Keller Williams Realty Evolution $599,000
Listed by Keller Williams Realty Evolution

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1800
  • Effective Year Built: 1800
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 18
  • 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: 740
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 2,039
  • Total Building Area: 1,238
  • Gross Building Area: 2,193
  • Building Area: 1,238
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,238
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000047
  • 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: 204300

Zoning

  • Zoning: R2

Geography

  • Parcel: SALE M:35 L:0318
  • Lot: 318
  • Municipality: SALEM
  • Latitude: 42.5221
  • Longitude: -70.8889

    Address

  • Full Address: 7 Herbert St
  • Address - House Number: 7
  • Address - Street Name: Herbert
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C003
  • 4-Digit Zip Code: 5103
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $526,600

    Appraisal Valuation

  • Standard Deviation: 0.0799
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 79
  • Final Value: 566,164
  • High Value: 659,657
  • Low Value: 472,671

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $453,200
  • Assessed Land Value: $180,600
  • Assessed Improvements Value: $272,600

    Sales

  • Current Sale Contract Date: Nov 08, 2023
  • Current Sale Recording Date: Nov 08, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20231108001650
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 Salem Neck

Stats & Trends

Median Asking:

$549,900

Sale Price/ft²

$447

Below Asking

0.02%

Average Days on Market

57

Average Home Size

1378 ft²

Average Home Age

152.8 years

Currently For Sale

13 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# 73160956

Frequently Asked Questions

When was property at 7 Herbert Street built and last sold?
The property at 7 Herbert Street was built in 1800 and last sold on Nov 8, 2023 for $650,000.
How much is this home worth?
The estimated value of the home located at 7 Herbert Street is $611,736.
What are some comparable homes to 7 Herbert Street?
There are currently no comparable homes to 7 Herbert Street.
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