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Salem 01970 South Salem
8 Riverbank Rd
$489,000
● House - Off Market

8 Riverbank Rd

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,571 Ft²
$736,237
RealtyHop Estimate
50.56%
Since Apr 1, 2018
MA-Boston
Primary Model

About This Property

Awesome Location - Great family neighborhood - Peeks for the water across the street.  Close to the Marblehead/Salem line, surrounded by conservation land and close to the bicycle/walking path.  Access to the beach is at the end of the road, great for anyone who has a kayak.  There is a beach association ($95/year).  This wonderful side entrance colonial has been tastefully updated and lovingly cared for.  Living, dining, kitchen, family room and half bath on the first floor, three bedrooms and full bath on the second floor, walk up to the attic.  Beautifully landscaped back yard is fully fenced.  One car attached garage,  Full basement is partially finished, and has high ceilings.  Don't miss seeing this wonderful home!
Unit Size
1,571 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$311
Property Type
House
Property Taxes
$552
HOA Dues
-
Year Built
1956

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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 #72268912)

Price History

Date / Event Date Event Price
Mar 15, 2018 Sold
Premium
Sold
Jan 9, 2018 Listed by Coldwell Banker Residential Brokerage - Marblehead $489,000
Listed by Coldwell Banker Residential Brokerage - Marblehead
Apr 14, 2006 Sold
Premium
Sold
Feb 23, 2006 Listed by Coldwell Banker Residential Brokerage - Marblehead $425,000
Listed by Coldwell Banker Residential Brokerage - Marblehead
Nov 22, 2002 Sold
Premium
Sold
Show More

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1956
  • Effective Year Built: 1956
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 3
  • 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: 624
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,050
  • Total Building Area: 1,571
  • Gross Building Area: 3,346
  • Building Area: 1,571
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,571
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000139
  • 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:0278
  • Lot: 278
  • Municipality: SALEM
  • Latitude: 42.4961
  • Longitude: -70.8885

    Address

  • Full Address: 8 Riverbank Rd
  • Address - House Number: 8
  • Address - Street Name: Riverbank
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Salem
  • Carrier Code: C024
  • 4-Digit Zip Code: 5313
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $774,000

    Appraisal Valuation

  • Standard Deviation: 0.1736
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 726,231
  • High Value: 852,285
  • Low Value: 600,178

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $666,100
  • Assessed Land Value: $240,100
  • Assessed Improvements Value: $426,000

    Sales

  • Current Sale Recording Date: Mar 15, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 180315003120
  • Previous Sale Recording Date: Apr 14, 2006
  • Previous Sale Amount: $420,000
  • Previous Sale Document Type: 27
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:

$620,000

Sale Price/ft²

$368

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2089 ft²

Average Home Age

87.5 years

Currently For Sale

39 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# 72268912

Frequently Asked Questions

When was property at 8 Riverbank Road built and last sold?
The property at 8 Riverbank Road was built in 1956 and last sold on Jan 1, 1970 for $489,000.
How much is this home worth?
The estimated value of the home located at 8 Riverbank Road is $497,812.
What are some comparable homes to 8 Riverbank Road?
There are currently no comparable homes to 8 Riverbank Road.
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