Seller's Agent in 2022
Team Curtin - Tim And Jody
Leading Edge Real Estate
(978) 766-3574
5 in this area
32 Total Sales
16 Oakland St Salem, MA 01970
North Salem NeighborhoodEstimated Value: $716,000 - $896,000
4
Beds
2
Baths
1,996
Sq Ft
$404/Sq Ft
Est. Value
Highlights
- Wood Flooring
- Porch
- Heating Available
- Corner Lot
- Fenced
- 2-minute walk to McGlew Park
About This Home
As of December 2022Paint, Patch, and Profit! Investors and rehabbers take notice. If you know how to roll up your sleeves and get things done, now is the perfect time for you to step in and take over. This property was originally listed on 10/5/22 and went under contract in only 7 days. The lender for the current offer has been unable to issue a financing commitment after 3 extensions so this is now back on the market seeking immediate new offers. The tenants that occupied both units have recently moved out, and the house will be delivered vacant at closing. This North Salem 2 family has much upside potential. Possible condo conversion or keep as rental. Each unit has 2 bedrooms, one full bath, some wood flooring, period detail, and off-street parking. There is a large unfinished walk-up attic that offers an excellent opportunity to add living space. Call today to schedule a showing, or stop by Open House on Thursday morning, December 8th, from 9:00 am -11:00 am. Offers due Friday, December 9 by 11 am.
Last Agent to Sell the Property
Leading Edge Real Estate Listed on: 10/05/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,451
Year Built
- Built in 1925
Lot Details
- 3,498 Sq Ft Lot
- Fenced
- Corner Lot
- Level Lot
Home Design
- Duplex
- Stone Foundation
- Frame Construction
- Shingle Roof
Interior Spaces
- 1,996 Sq Ft Home
- Property has 1 Level
Flooring
- Wood
- Carpet
- Vinyl
Bedrooms and Bathrooms
- 4 Bedrooms
- 2 Full Bathrooms
Basement
- Basement Fills Entire Space Under The House
- Interior Basement Entry
- Block Basement Construction
Parking
- 3 Car Parking Spaces
- Driveway
- Paved Parking
- Open Parking
- Off-Street Parking
Outdoor Features
- Bulkhead
- Rain Gutters
- Porch
Schools
- Choice-Based Elementary School
- Collins Middle School
- Salem High/Prep School
Utilities
- 2 Heating Zones
- Heating Available
- 100 Amp Service
- Gas Water Heater
Listing and Financial Details
- Total Actual Rent $2,500
- Rent includes unit 1(water), unit 2(water)
- Assessor Parcel Number 1702290,2129643
Community Details
Overview
- 2 Units
Building Details
- Insurance Expense $1,200
- Water Sewer Expense $1,200
- Operating Expense $2,400
- Net Operating Income $27,600
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 5, 2022
Closed on
Dec 30, 2022
Sold by
Lowe Gary E
Bought by
Mema Olger
Seller's Agent
Team Curtin - Tim And Jody
Leading Edge Real Estate
Buyer's Agent
Armando Vranari
ALB Realty
List Price
$525,000
Sold Price
$450,000
Premium/Discount to List
-$75,000
-14.29%
Views
134
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$356,226
Avg. Annual Appreciation
23.43%
Original Mortgage
$337,500
Outstanding Balance
$327,081
Interest Rate
6.61%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$479,145
Purchase Details
Closed on
Nov 1, 1979
Bought by
Lowe Gary Evan
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Mema Olger | $450,000 | None Available | |
| Lowe Gary Evan | $56,800 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Mema Olger | $337,500 | |
| Previous Owner | Lowe Gary Evan | $50,000 | |
| Previous Owner | Lowe Gary Evan | $21,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/30/2022 12/30/22 | Sold | $450,000 | -14.3% | $225 / Sq Ft |
| 12/09/2022 12/09/22 | Pending | -- | -- | -- |
| 12/07/2022 12/07/22 | Price Changed | $525,000 | 0.0% | $263 / Sq Ft |
| 12/07/2022 12/07/22 | For Sale | $525,000 | +5.2% | $263 / Sq Ft |
| 10/12/2022 10/12/22 | Pending | -- | -- | -- |
| 10/05/2022 10/05/22 | For Sale | $499,000 | -- | $250 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $7,962 | $702,100 | $197,500 | $504,600 |
| 2024 | $7,624 | $656,100 | $187,700 | $468,400 |
| 2023 | $6,264 | $500,700 | $173,200 | $327,500 |
| 2022 | $6,450 | $486,800 | $167,500 | $319,300 |
| 2021 | $6,120 | $443,500 | $155,900 | $287,600 |
| 2020 | $6,007 | $415,700 | $147,200 | $268,500 |
| 2019 | $5,946 | $393,800 | $139,700 | $254,100 |
| 2018 | $5,509 | $358,200 | $132,800 | $225,400 |
| 2017 | $5,123 | $323,000 | $112,000 | $211,000 |
| 2016 | $4,980 | $317,800 | $106,800 | $211,000 |
| 2015 | $4,829 | $294,300 | $98,200 | $196,100 |
Source: Public Records
Agents Affiliated with this Home
-
Team Curtin - Tim And Jody
-
Armando Vranari
Buyer's Agent in 2022
Armando Vranari
ALB Realty
(978) 304-2625
2 in this area
81 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73044733
APN: SALE-000017-000000-000229
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
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