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Salem 01970 South Salem
87 Loring Avenue
$262,000
● House - Off Market

87 Loring Avenue

Salem, MA 01970
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,383 Ft²
$510,888
RealtyHop Estimate
89.92%
Since Jun 1, 2004
MA-Boston
Primary Model

About This Property

NEWER ROOF, ALUMINUM SIDING, 3 LARGE BEDROOMS, UPDATED KITCHEN, GAGRAGE, LARGE BASEMENT. HARDWOOD FLOORS THROUGH OUT. NOT A DRIVE BY!!!
Unit Size
1,383 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$195
Property Type
House
Property Taxes
$189
HOA Dues
-
Year Built
1916

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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 #70002508)

Price History

Date / Event Date Event Price
Sep 29, 2021 Sold
Premium
Sold
Aug 18, 2021 Listed by Century 21 N. Shore $495,000
Listed by Century 21 N. Shore
May 27, 2004 Sold
Premium
Sold
Mar 5, 2004 Listed by Century 21 N. Shore $269,000
Listed by Century 21 N. Shore
Sep 21, 1987 Sold
Premium
Sold

Property Highlights

Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 1916
  • Effective Year Built: 1916
  • 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: 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: 624
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,848
  • Total Building Area: 1,751
  • Gross Building Area: 2,399
  • Building Area: 1,751
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,751
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000111
  • 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: I

Geography

  • Parcel: SALE M:32 L:0024
  • Lot: 24
  • Municipality: SALEM
  • Latitude: 42.5
  • Longitude: -70.8956

    Address

  • Full Address: 87 Loring Ave
  • Address - House Number: 87
  • Address - Street Name: Loring
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Salem
  • Carrier Code: C099
  • 4-Digit Zip Code: 4422
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $596,100
  • Initial Tax Delinquent Year: 2022

    Appraisal Valuation

  • Standard Deviation: 0.1727
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 601,523
  • High Value: 705,404
  • Low Value: 497,642

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $513,000
  • Assessed Land Value: $152,400
  • Assessed Improvements Value: $360,600

    Sales

  • Current Sale Contract Date: Aug 29, 2021
  • Current Sale Recording Date: Sep 29, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20210929001340
  • Previous Sale Recording Date: May 27, 2004
  • Previous Sale Amount: $262,000
  • 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:

$619,500

Sale Price/ft²

$370

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2207 ft²

Average Home Age

89.3 years

Currently For Sale

47 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# 70002508

Frequently Asked Questions

When was property at 87 Loring Avenue built and last sold?
The property at 87 Loring Avenue was built in 1916 and last sold on Aug 29, 2021 for $521,500.
How much is this home worth?
The estimated value of the home located at 87 Loring Avenue is $503,781.
What are some comparable homes to 87 Loring Avenue?
There are currently no comparable homes to 87 Loring Avenue.
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