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Salem 01970 South Salem
8 Martin Lane
$900,000
● House - Off Market

8 Martin Lane

Salem, MA 01970
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
3,139 Ft²
$861,451
RealtyHop Estimate
3.91%
Since Apr 1, 2022
MA-Boston
Primary Model

About This Property

Move right into this newly constructed and brilliantly designed 4 bedroom colonial built with thoughtful attention to detail throughout. Just 20 miles north of Boston, you will find this beautifully appointed home at the end of a cul de sac in a picturesque neighborhood. Fall in love with the bright airy open concept featuring a grand island that makes this kitchen a chef's dream. If not gathering in the kitchen, you will find yourself in the spacious fireplaced living area or gathering in the dining area. The second floor features 4 bedrooms including an exceptional owners suite. A full finished walkout basement opens to a fenced in back yard. This home truly has it all!
Unit Size
3,139 Ft²
Days on Market
-
Land Size
-
Price per sqft
$264
Property Type
House
Property Taxes
$689
HOA Dues
-
Year Built
2019

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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: 5 months ago (MLSPIN #72933059)

Price History

Date / Event Date Event Price
Mar 4, 2022 Sold
Premium
Sold
Jan 12, 2022 Listed by Century 21 North East $829,000
Listed by Century 21 North East

Property Highlights

Garage
Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2019
  • Effective Year Built: 2019
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • 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: 981
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 19,850
  • Total Building Area: 2,338
  • Gross Building Area: 5,275
  • Building Area: 2,338
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 2,338
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000456
  • 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

Geography

  • Parcel: SALE M:14 L:0144
  • Lot: 144
  • Municipality: SALEM
  • Latitude: 42.5099
  • Longitude: -70.9186

    Address

  • Full Address: 8 Martin Ln
  • Address - House Number: 8
  • Address - Street Name: Martin
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Salem
  • Carrier Code: C042
  • 4-Digit Zip Code: 1975
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $962,400

    Appraisal Valuation

  • Standard Deviation: 0.1744
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 899,101
  • High Value: 1,055,874
  • Low Value: 742,327

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $828,200
  • Assessed Land Value: $253,400
  • Assessed Improvements Value: $574,800

    Sales

  • Current Sale Contract Date: Mar 04, 2022
  • Current Sale Recording Date: Mar 04, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 634411
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

$369

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2133 ft²

Average Home Age

83.7 years

Currently For Sale

38 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: 5 months ago
Data Source: MLS PIN, MLS# 72933059

Frequently Asked Questions

When was property at 8 Martin Lane built and last sold?
The property at 8 Martin Lane was built in 2019 and last sold on Mar 4, 2022 for $900,000.
How much is this home worth?
The estimated value of the home located at 8 Martin Lane is $860,565.
What are some comparable homes to 8 Martin Lane?
There are currently no comparable homes to 8 Martin Lane.
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