7 Therese
About This Property
Payment Calculator (Computations Provided by RealtyHop)
Your Estimated Monthly Payment
Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 20, 2026 | Sold | ||
| Sold | |||
| Mar 24, 2026 | In contract | - | |
| In contract | |||
| Mar 12, 2026 | Listed by Keller Williams Realty Metro-Concord | $550,000 | |
| Listed by Keller Williams Realty Metro-Concord | |||
| | |||
|
Welcome to 7 Therese Road, a rare opportunity to own a home in one of Salem’s most convenient and sought-after locations. Set on a spacious 0.61-acre double lot (7 Therese Rd + 0 Therese Rd), this 3-bedroom, 1.5-bath ranch offers 1,462 sq ft of living space, an oversized detached garage, and the kind of potential buyers are always searching for. Tucked into a quiet neighborhood, the property features a private backyard perfect for relaxing, entertaining, or creating your own outdoor retreat. The oversized detached garage provides excellent flexibility for storage, a workshop, hobby space, or recreational equipment. Many of the important updates have already been completed, including all new flooring throughout (2025), fresh interior paint, updated kitchen and bathrooms, a new garage door (2024), pellet stove (2013), and whole-house insulation including the crawl space (2021). Location is truly the highlight. The home is just steps from the Salem Rail Trail and only 1.6 miles from Tuscan Village, offering easy access to premier shopping, restaurants, and entertainment. For commuters, the property is just minutes from Interstate 93, providing convenient access to Manchester, the Seacoast, and Boston. Whether you're looking for a move in ready home with room to personalize or a property with excellent upside potential, 7 Therese Road offers the perfect combination of location, space, and opportunity. Homes offering this much land, updates, and proximity to Tuscan Village and major commuter routes rarely come to market.
| |||
| Oct 15, 2025 | Sold | ||
| Sold | |||
| Jul 15, 2025 | Listed by Coldwell Banker Realty Haverhill MA | $450,000 | |
| Listed by Coldwell Banker Realty Haverhill MA | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017