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Salem 01970 South Salem
8 Grant Road
$420,000
● House - Off Market

8 Grant Road

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,662 Ft²
$580,152
RealtyHop Estimate
38.46%
Since May 1, 2020
MA-Boston
Primary Model

About This Property

A SWEET ONE OWNER HOME  in very desirable South Salem Neighborhood !  This solidly built 1930's era home is waiting for your renovations.Traditional details include hardwood flooring, french doors, built-in china cabinet. Front to back living room with fireplace, dining room, and kitchen with half bath complete the first floor; three bedrooms and full bath on the second floor. Plenty of basement storage and off street parking. One car garage. Nice back yard for relaxing or entertaining.  Close to Salem State. Just 2.2 miles to Salem's commuter rail to Boston.. Enjoy all that Salem has to offer!
Unit Size
1,662 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$252
Property Type
House
Property Taxes
$483
HOA Dues
-
Year Built
1938

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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 #72632134)

Price History

Date / Event Date Event Price
Apr 22, 2020 Sold
Premium
Sold
Mar 11, 2020 Listed by William Raveis R.E. & Home Services $419,000
Listed by William Raveis R.E. & Home Services

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1938
  • Effective Year Built: 1938
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 18
  • 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: 660
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,090
  • Total Building Area: 1,332
  • Gross Building Area: 2,906
  • Building Area: 1,332
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,332
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000140
  • 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:31 L:0179
  • Lot: 179
  • Municipality: SALEM
  • Latitude: 42.496
  • Longitude: -70.8937

    Address

  • Full Address: 8 Grant Rd
  • Address - House Number: 8
  • Address - Street Name: Grant
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Salem
  • Carrier Code: C029
  • 4-Digit Zip Code: 4453
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $666,500

    Appraisal Valuation

  • Standard Deviation: 0.2411
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 66
  • Final Value: 588,751
  • High Value: 730,664
  • Low Value: 446,837

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $573,600
  • Assessed Land Value: $206,500
  • Assessed Improvements Value: $367,100

    Sales

  • Current Sale Contract Date: Apr 16, 2020
  • Current Sale Recording Date: Apr 22, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20200422000670
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

2194 ft²

Average Home Age

88.2 years

Currently For Sale

46 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# 72632134

Frequently Asked Questions

When was property at 8 Grant Road built and last sold?
The property at 8 Grant Road was built in 1938 and last sold on Apr 16, 2020 for $420,000.
How much is this home worth?
The estimated value of the home located at 8 Grant Road is $435,396.
What are some comparable homes to 8 Grant Road?
There are currently no comparable homes to 8 Grant Road.
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