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Salem 01970 North Salem
7 Rand Rd
$620,000
● House - Off Market

7 Rand Rd

Salem, MA 01970
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,740 Ft²
$589,685
RealtyHop Estimate
7.23%
Since Dec 1, 2022
MA-Boston
Primary Model

About This Property

Absolutely one of the nicest streets in all of Salem. This center entrance colonial was built on the fields of Cabot Farm in 1955. The grounds are spacious, level and just gorgeous! There is total of 1,740 Sq Ft with 4 bedrooms 1.5 baths with re-finished hardwood floors throughout. Located on a cul de sac right next to the Kernwood Country Club's 10th hole and a beautiful public park/playground right outside of the back fence.  This one owner home does need updating, but "bones are good" making it well worth the effort.  Easy access to commuter rail and shopping. First Showings at Open House Sat and Sunday 11-1pm  on 10/1 and 10/2/2022. Offers due Monday 6pm
Unit Size
1,740 Ft²
Days on Market
-
Land Size
0.33 acres
Price per sqft
$316
Property Type
House
Property Taxes
$556
HOA Dues
-
Year Built
1950

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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 #73042174)

Price History

Date / Event Date Event Price
Nov 14, 2022 Sold
Premium
Sold
Oct 5, 2022 In contract -
In contract
Sep 28, 2022 Listed by Keller Williams Realty Evolution $549,900
Listed by Keller Williams Realty Evolution
Oct 27, 1994 Sold
Premium
Sold

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • 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: 696
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 12

    Dimensions

  • Lot Size Square Feet: 14,540
  • Total Building Area: 1,392
  • Gross Building Area: 2,974
  • Building Area: 1,392
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,392
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000334
  • 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: 204600

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:28 L:0006
  • Lot: 6
  • Municipality: SALEM
  • Latitude: 42.5346
  • Longitude: -70.8989

    Address

  • Full Address: 7 Rand Rd
  • Address - House Number: 7
  • Address - Street Name: Rand
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Salem
  • Carrier Code: C027
  • 4-Digit Zip Code: 2636
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $761,800

    Appraisal Valuation

  • Standard Deviation: 0.1699
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 670,116
  • High Value: 786,306
  • Low Value: 553,926

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $655,600
  • Assessed Land Value: $289,800
  • Assessed Improvements Value: $365,800

    Sales

  • Current Sale Contract Date: Nov 14, 2022
  • Current Sale Recording Date: Nov 14, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20221114004440
  • Previous Sale Recording Date: Oct 27, 1994
  • Previous Sale Amount: $159,400
  • 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 North Salem

Stats & Trends

Median Asking:

$659,000

Sale Price/ft²

$422

Below Asking

0.01%

Average Days on Market

51

Average Home Size

1635 ft²

Average Home Age

98.2 years

Currently For Sale

20 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# 73042174

Frequently Asked Questions

When was property at 7 Rand Road built and last sold?
The property at 7 Rand Road was built in 1950 and last sold on Nov 14, 2022 for $620,000.
How much is this home worth?
The estimated value of the home located at 7 Rand Road is $567,957.
What are some comparable homes to 7 Rand Road?
There are currently no comparable homes to 7 Rand Road.
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