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$195,000
● Condo - Off Market

71 Ocean #3

Salem, MA
bedrooms
1 Bed
bathrooms
1 Bath
square feet
675 Ft²
$441,573
RealtyHop Estimate
120.79%
Since Jan 1, 2004
National-US
Primary Model

About This Property

1 OR 2 BED CONDO IN BEAUTIFULLY RENOVATED BUILDING CLOSE TO SALEM STATE, PARK, TRANSPORTATION AND DOWNTOWN IMMAC MAINTAINED HARDWOOD FLOORS & C TILE BATH , NEW APPLIANCES, FURN, HT WTR HTR IN 2001! PET FRIENDLY!!!
Unit Size
675 Ft²
Days on Market
-
Land Size
1.00 acres
Price per sqft
$296
Property Type
Condo
Property Taxes
$107
HOA Dues
$150
Year Built
-

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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 #30768131)

Price History

Date / Event Date Event Price
Dec 15, 2003 Sold
Premium
Sold
Sep 13, 2003 Listed by Realty Vision $199,999
Listed by Realty Vision

Property Highlights

Parking Available
Interior Details
Level: First
Features: Flooring - Hardwood
Features: Flooring - Hardwood
Level: First
Features: Flooring - Hardwood
Level: First
Level: First
Features: Flooring - Hardwood
Features: No
Full Bathrooms: 1
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Gas Water Heater, Utility Connections for Gas Range
Flooring Type: Wood, Tile
Laundry Features: In Basement
Rooms: 4
Basement: Y
Parking Details
Parking Features: Off Street, Assigned
Exterior Details
Entry Level: 2
Year Built Source: Public Records
Year Built Details: Actual
PropertySubType: Condominium
Building Name: 71 Ocean Condominium Trust
Structure Type: Garden
Stories (Total): 1
Building Area Units: Square Feet
Construction Materials: Frame
Patio and Porch Features: Porch
Lead Paint: Unknown
Lot Size Units: Acres
Zoning: R1
Parcel Number: 4315809
Water Source: Public, City/Town Water, City/Town Sewer
Financial Details
Tax Assessed Value: $99,500
Tax Annual Amount: $1,281
Utilities Details
Utilities: for Gas Range
Cooling Type: None
Heating Type: Steam, Natural Gas
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Water, Sewer, Insurance, Maintenance Structure, Snow Removal
HOA/Condo/Coop Amenities: Laundry
HOA Fee: $150
Community Features: Public Transportation, Shopping, Park
Complex is Completed
Management: Owner Association

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

Past Sales

Date Unit Beds Baths Sqft Price Closed Listed By

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Last Updated: 4 years ago
Data Source: MLS PIN, MLS# 30768131
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