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Salem 01970 South Salem
8 Hanson St
$102,000
● House - Off Market

8 Hanson St

Salem, MA 01970
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,047 Ft²
$216,848
RealtyHop Estimate
73.62%
Since Sep 1, 2015
MA-Boston
Primary Model

About This Property

This unique 2-3 bedroom, 2 full bath Gambrel roof home is in a nice neighborhood, but needs quite a bit of work. Has a newer hot water heater. Older heating system. Circuit breakers. Won't qualify for standard FHA, but may with a 203K or equivalent rehab loan. Hardwood floors. Small fenced yard. No driveway. Cash offers encouraged.
Unit Size
1,047 Ft²
Days on Market
-
Land Size
0.03 acres
Price per sqft
$119
Property Type
House
Property Taxes
$297
HOA Dues
-
Year Built
1870

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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 #71788312)

Price History

Date / Event Date Event Price
Oct 11, 2016 Sold
Premium
Sold
Aug 17, 2015 Sold
Premium
Sold
Jan 29, 2015 Listed by Armstrong Field Real Estate $124,900
Listed by Armstrong Field Real Estate

Property Highlights

Building Info

Overview

    General

  • Year Built: 1870
  • Effective Year Built: 1870
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 16
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 10
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 551
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 1,512
  • Total Building Area: 1,047
  • Gross Building Area: 1,653
  • Building Area: 1,047
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,047
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000035
  • 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: 204702

Zoning

  • Zoning: R2

Geography

  • Parcel: SALE M:15 L:0214
  • Lot: 214
  • Municipality: SALEM
  • Latitude: 42.5198
  • Longitude: -70.9117

    Address

  • Full Address: 8 Hanson St
  • Address - House Number: 8
  • Address - Street Name: Hanson
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C036
  • 4-Digit Zip Code: 1311
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $536,500

    Appraisal Valuation

  • Standard Deviation: 0.1867
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 52
  • Final Value: 496,399
  • High Value: 656,074
  • Low Value: 336,725

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $461,700
  • Assessed Land Value: $178,000
  • Assessed Improvements Value: $283,700

    Sales

  • Current Sale Recording Date: Oct 11, 2016
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 52
  • Previous Sale Recording Date: Aug 17, 2015
  • Previous Sale Amount: $102,000
  • Previous Sale Document Type: O
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:

$619,500

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# 71788312

Frequently Asked Questions

When was property at 8 Hanson Street built and last sold?
The property at 8 Hanson Street was built in 1870 and last sold on Jan 1, 1970 for $280,000.
How much is this home worth?
The estimated value of the home located at 8 Hanson Street is $138,711.
What are some comparable homes to 8 Hanson Street?
There are currently no comparable homes to 8 Hanson Street.
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