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Salem 01970 South Salem
7 Looney Avenue
$168,000
● House - Off Market

7 Looney Avenue

Salem, MA 01970
bedrooms
4 Beds
bathrooms
2 Baths
square feet
2,000 Ft²
$717,025
RealtyHop Estimate
322.03%
Since May 1, 1997
MA-Boston
Primary Model

About This Property

A HOME FOR ALL AGES.  MINT 8 ROOM SPLIT RANCH.  FIREPLACE, 2 BATHS, SEPARATE ENTRANCE 3 ROOM IN-LAW, IF NEEDED.  8X12 SHED, FENCED IN YARD. QUIET SIDE STREET NEAR MANSELL PARK, HOSPITAL.  NEWER WATER TANK, HEATING SYSTEM, ROOF & STOVE.
Unit Size
2,000 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$85
Property Type
House
Property Taxes
$192
HOA Dues
-
Year Built
1968

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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 years ago (MLSPIN #30144465)

Price History

Date / Event Date Event Price
Apr 30, 1997 Sold
Premium
Sold
Jan 26, 1997 Listed by Carlson GMAC Real Estate $169,900
Listed by Carlson GMAC Real Estate

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1968
  • Effective Year Built: 1978
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 5
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 42
  • Exterior Walls Type: 18
  • 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: 1,176
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,792
  • Total Building Area: 2,813
  • Gross Building Area: 3,048
  • Building Area: 2,813
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 2,813
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MICHAEL LOONEY
  • 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: 204702

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:15 L:0370
  • Lot: 370
  • Municipality: SALEM
  • Latitude: 42.5156
  • Longitude: -70.9102

    Address

  • Full Address: 7 Looney Ave
  • Address - House Number: 7
  • Address - Street Name: Looney
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C032
  • 4-Digit Zip Code: 1909
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $677,900

    Appraisal Valuation

  • Standard Deviation: 0.1533
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 81
  • Final Value: 668,706
  • High Value: 771,235
  • Low Value: 566,177

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $583,400
  • Assessed Land Value: $176,100
  • Assessed Improvements Value: $407,300

    Sales

  • Current Sale Recording Date: Apr 30, 1997
  • Current Sale Price:
    Premium
  • Current 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: 4 years ago
Data Source: MLS PIN, MLS# 30144465

Frequently Asked Questions

When was property at 7 Looney Avenue built and last sold?
The property at 7 Looney Avenue was built in 1968 and last sold on Jan 1, 1970 for $168,000.
How much is this home worth?
The estimated value of the home located at 7 Looney Avenue is $196,625.
What are some comparable homes to 7 Looney Avenue?
There are currently no comparable homes to 7 Looney Avenue.
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