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Salem 01970 South Salem
8 Elm Ave
$350,000
● House - Off Market

8 Elm Ave

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath
square feet
3,094 Ft²
$625,851
RealtyHop Estimate
69.19%
Since May 1, 2016
MA-Boston
Primary Model

About This Property

Desirable South Salem. Much bigger than it looks from the road. Move right into this well maintained, flexible floor plan, 5/7 Rooms, 3 Bedrooms, 1 Bathroom ranch with a 1 car detached garage. Updated maple and granite kitchen. Updated Bathroom. Great for entertaining, including a 21X12 Dining Room, with skylight. Gleaming hardwood floors.  Central air conditioning. Beautiful 21X19 three seasons porch, with wood burning/FP/Stove, off kitchen and dining room with slate flooring, cathedral ceilings and overlooking the in-ground pool. Walk-out basement with large family room and office. Plenty of room for storage. Fenced yard. Dead end street. Convenient to commuter routes, public transportation, Vinnin Square shops and restaurants.  This is a Fannie Mae HomePath Property!
Unit Size
3,094 Ft²
Days on Market
-
Land Size
0.13 acres
Price per sqft
$120
Property Type
House
Property Taxes
$402
HOA Dues
-
Year Built
1951

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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 #71955716)

Price History

Date / Event Date Event Price
Dec 31, 2020 Sold
Premium
Sold
Oct 27, 2020 Listed by EXIT Realty Beatrice Associates $529,999
Listed by EXIT Realty Beatrice Associates
Apr 22, 2016 Sold
Premium
Sold
Feb 3, 2016 Listed by EXIT Realty Beatrice Associates $369,900
Listed by EXIT Realty Beatrice Associates
Sep 20, 2007 Sold
Premium
Sold
Show More

Property Highlights

Garage
Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1951
  • Effective Year Built: 1951
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 8
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,401
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 12

    Dimensions

  • Lot Size Square Feet: 5,602
  • Total Building Area: 1,937
  • Gross Building Area: 3,934
  • Building Area: 1,937
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,937
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000129
  • 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: 204102

Zoning

  • Zoning: R1

Geography

  • Parcel: SALE M:21 L:0204
  • Lot: 204
  • Municipality: SALEM
  • Latitude: 42.4871
  • Longitude: -70.8986

    Address

  • Full Address: 8 Elm Ave
  • Address - House Number: 8
  • Address - Street Name: Elm
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C026
  • 4-Digit Zip Code: 4208
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $703,800

    Appraisal Valuation

  • Standard Deviation: 0.1586
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 80
  • Final Value: 699,290
  • High Value: 810,173
  • Low Value: 588,407

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $605,700
  • Assessed Land Value: $197,900
  • Assessed Improvements Value: $407,800

    Sales

  • Current Sale Contract Date: Dec 14, 2020
  • Current Sale Recording Date: Dec 31, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20201231006190
  • Previous Sale Recording Date: Apr 22, 2016
  • Previous Sale Amount: $350,000
  • Previous Sale Document Type: 71
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

$370

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2188 ft²

Average Home Age

89.2 years

Currently For Sale

45 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

Rentals Near You

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 71955716

Frequently Asked Questions

When was property at 8 Elm Avenue built and last sold?
The property at 8 Elm Avenue was built in 1951 and last sold on Dec 14, 2020 for $560,000.
How much is this home worth?
The estimated value of the home located at 8 Elm Avenue is $562,886.
What are some comparable homes to 8 Elm Avenue?
There are currently no comparable homes to 8 Elm Avenue.
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