Seller's Agent in 2019
The Tabassi Team
RE/MAX
(978) 375-5834
1 in this area
596 Total Sales
2 Summit Ave Methuen, MA 01844
Downtown Methuen Neighborhood
5
Beds
5
Baths
2,657
Sq Ft
13,504
Sq Ft Lot
About This Home
As of March 2019PRIME Methuen Location - 4 UNIT MULTI, AN ADDITIONAL SUBDIVIDEABLE LOT INCLUDED AND ~$32,222.00 of net income a year bringing a A CAP RATE OF 8.1% + ! It doesn't get much better than this.Many updates during seller's tenure, including newer windows,some cosmetic updates, woodwork and much more. 3 out of the 4 units are currently rented for a total of $2950 per month, with the 4th (nicely updated one) vacant with a projected rent of an additional $1000/month.The rented units are rented below market value (some cosmetic finishes on these could bring the CAP rate EVEN HIGHER).The additional subdivideable lot (0 Summit Ave) comes with the property- and is potentially buildable or can be a great outdoor space for the tenants. This is a GREAT OWNER OCCUPANT opportunity to live in the vacant unit for free while building equity - have someone else pay your mortgage and taxes- and still have $ left over to pocket.Great lot(s) and location close to 93, 213,The Loop, Salem, EVERYTHING. Won't last
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1900
Lot Details
- 0.31
Utilities
- Oil Water Heater
Additional Features
- Basement
Listing and Financial Details
- Assessor Parcel Number M:00612 B:00064 L:00003
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/21/2019 03/21/19 | Sold | $420,000 | +5.3% | $158 / Sq Ft |
| 02/15/2019 02/15/19 | Pending | -- | -- | -- |
| 02/05/2019 02/05/19 | For Sale | $399,000 | -- | $150 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
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 | $6,808 | $643,500 | $195,400 | $448,100 |
| 2024 | $6,532 | $601,500 | $178,200 | $423,300 |
| 2023 | $6,331 | $541,100 | $158,400 | $382,700 |
| 2022 | $5,854 | $448,600 | $132,000 | $316,600 |
| 2021 | $5,830 | $442,000 | $125,400 | $316,600 |
| 2020 | $5,607 | $417,200 | $125,400 | $291,800 |
| 2019 | $5,422 | $382,100 | $112,200 | $269,900 |
| 2018 | $4,790 | $335,700 | $112,200 | $223,500 |
| 2017 | $4,918 | $335,700 | $112,200 | $223,500 |
| 2016 | $4,874 | $329,100 | $105,600 | $223,500 |
| 2015 | $4,354 | $298,200 | $105,600 | $192,600 |
Source: Public Records
Agents Affiliated with this Home
-
The Tabassi Team
-
Matt LaBerge
Seller Co-Listing Agent in 2019
Matt LaBerge
Consoli Realty Group
(603) 494-1026
6 Total Sales
-
Vickie Andrade
V
Buyer's Agent in 2019
Vickie Andrade
Bettencourt Real Estate
4 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 72449346
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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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