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Salem 01970 South Salem
7 Lawrence Street
$340,000
● House - Off Market

7 Lawrence Street

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,200 Ft²
$486,277
RealtyHop Estimate
43.06%
Since Sep 1, 2019
MA-Boston
Primary Model

About This Property

Incredible opportunity to own a single family home on a quiet street in South Salem. This home features single-level living with 3 bedrooms and 1 bath, with an additional 1000+ square foot basement with built-in cedar closets, and additional unfinished space on the second level. Roof was completed new in 2013, new oil tank in 2018. Washer/dryer hookup on main level. This home has plenty of off-street parking and a custom built shed. Home is being sold "as is". This home is for the person who wants to put their personal touch on it, roll up your sleeves and make this home your own!
Unit Size
1,200 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$283
Property Type
House
Property Taxes
$375
HOA Dues
-
Year Built
1954

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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 #72506298)

Price History

Date / Event Date Event Price
Aug 27, 2019 Sold
Premium
Sold
May 24, 2019 Listed by MerryFox Realty $339,900
Listed by MerryFox Realty

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1954
  • Effective Year Built: 1954
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,200
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,001
  • Total Building Area: 1,200
  • Gross Building Area: 2,490
  • Building Area: 1,200
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,200
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000115
  • 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: R2

Geography

  • Parcel: SALE M:24 L:0146
  • Lot: 146
  • Municipality: SALEM
  • Latitude: 42.5075
  • Longitude: -70.8988

    Address

  • Full Address: 7 Lawrence St
  • Address - House Number: 7
  • Address - Street Name: Lawrence
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C099
  • 4-Digit Zip Code: 2916
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $542,700

    Appraisal Valuation

  • Standard Deviation: 0.1902
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 74
  • Final Value: 530,335
  • High Value: 631,219
  • Low Value: 429,452

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $467,000
  • Assessed Land Value: $195,000
  • Assessed Improvements Value: $272,000

    Sales

  • Current Sale Contract Date: Aug 24, 2019
  • Current Sale Recording Date: Aug 27, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20190827004680
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# 72506298

Frequently Asked Questions

When was property at 7 Lawrence Street built and last sold?
The property at 7 Lawrence Street was built in 1954 and last sold on Aug 24, 2019 for $340,000.
How much is this home worth?
The estimated value of the home located at 7 Lawrence Street is $349,688.
What are some comparable homes to 7 Lawrence Street?
There are currently no comparable homes to 7 Lawrence Street.
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