Dena Balzano
LICHTENSTEIN ROWAN, REALTORS(r)
(540) 329-2423
92 Total Sales
10 in Salem
$195K - $675K Price Range
2223 Bailey Ave Salem, VA 24153
Salem Area
--
Bed
--
Bath
5,797
Sq Ft
0.33
Acre Lot
Highlights
- City View
- No HOA
- Central Air
About This Home
As of December 2024Great investment opportunity in City of Salem. This property is convenient located, 4 units each with 2 bedrooms, 1 bath, full basement (unfinished), small deck off kitchen, living room. All 4 units are currently rented with long term tenants, all on month to month leases. Each unit is renting well below market value. All could use cosmetic updates.
Last Agent to Sell the Property
RE/MAX REAL ESTATE ONE License #0225092153 Listed on: 07/01/2024
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,288
Year Built
- Built in 1973
Lot Details
- 14,375 Sq Ft Lot
Parking
- On-Street Parking
Property Views
- City
- Mountain
Home Design
- 5,797 Sq Ft Home
- Quadruplex
- Brick Exterior Construction
Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
Schools
- South Salem Elementary School
- Andrew Lewis Middle School
- Salem High School
Utilities
- Central Air
- Heat Pump System
- Electric Water Heater
Listing and Financial Details
- Tenant pays for electricity
- Legal Lot and Block 17-A / 3
Community Details
Overview
- No Home Owners Association
- 4 Units
- Shamrock Subdivision
Building Details
- 4 Leased Units
- Operating Expense $11,130
- Gross Income $28,020
- Net Operating Income $16,890
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Oct 17, 2025
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$540,775
Outstanding Balance
$536,673
Interest Rate
6.35%
Mortgage Type
VA
Purchase Details
Listed on
Jul 1, 2024
Closed on
Dec 12, 2024
Sold by
Bought by
Seller's Agent
Mack Garmon
RE/MAX REAL ESTATE ONE
Buyer's Agent
Mack Garmon
RE/MAX REAL ESTATE ONE
List Price
$629,900
Sold Price
$520,000
Premium/Discount to List
-$109,900
-17.45%
Views
39
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$416,000
Interest Rate
6.72%
Mortgage Type
Credit Line Revolving
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Salem, VA
-
Dena Balzano
-
Daniel Bennett
Daniel Bennett
eXp Realty - Blacksburg
(540) 900-2938
132 Total Sales
9 in Salem
$125K - $455K Price Range
-
Judy Hillman
Judy Hillman
LONG & FOSTER - ROANOKE OFFICE
(540) 900-2923
116 Total Sales
3 in Salem
$235K - $330K Price Range
-
Stephanie Varney
Stephanie Varney
VARNEY REALTY PARTNERS
(540) 613-5683
97 Total Sales
6 in Salem
$46K - $235K Price Range
-
Jarrod Hines
Jarrod Hines
REAL BROKER LLC - MCLEAN
(540) 831-3727
107 Total Sales
3 in Salem
$160K - $333K Price Range
-
Tim Thompson
Tim Thompson
Responds QuicklyMKB, Roanoke
(540) 900-3294
126 Total Sales
9 in Salem
$163K - $503K Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| -- | First Choice Title & Settlemen | ||
| $520,000 | First Choice Title |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $540,775 | ||
| Previous Owner | $416,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/17/2024 12/17/24 | Sold | $520,000 | -17.4% | $90 / Sq Ft |
| 09/15/2024 09/15/24 | Pending | -- | -- | -- |
| 07/01/2024 07/01/24 | For Sale | $629,900 | -- | $109 / Sq Ft |
Source: Roanoke Valley Association of REALTORS®
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $1,919 | $325,300 | $97,100 | $228,200 |
| 2024 | $1,644 | $274,000 | $85,400 | $188,600 |
| 2023 | $3,082 | $256,800 | $77,700 | $179,100 |
| 2022 | $2,791 | $232,600 | $66,600 | $166,000 |
| 2021 | $2,615 | $217,900 | $32,500 | $185,400 |
| 2020 | $2,574 | $214,500 | $32,500 | $182,000 |
| 2019 | $2,407 | $200,600 | $32,500 | $168,100 |
| 2018 | $2,254 | $191,000 | $32,500 | $158,500 |
| 2017 | $2,254 | $191,000 | $32,500 | $158,500 |
| 2016 | $2,254 | $191,000 | $32,500 | $158,500 |
| 2015 | $2,254 | $191,000 | $32,500 | $158,500 |
| 2014 | $2,254 | $191,000 | $32,500 | $158,500 |
Source: Public Records
Agents Affiliated with this Home
-
Mack Garmon
Seller's Agent in 2024
Mack Garmon
RE/MAX
(540) 354-5141
80 Total Sales
-
Sharon Smith
Seller Co-Listing Agent in 2024
Sharon Smith
RE/MAX
(540) 797-4333
57 Total Sales
Map
Source: Roanoke Valley Association of REALTORS®
MLS Number: 908879
APN: 237-1-1
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.
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