49 Lawrence St Salem, MA 01970
Castle Hill Neighborhood
9
Beds
3
Baths
3,159
Sq Ft
6,865
Sq Ft Lot
Highlights
- Medical Services
- Wood Flooring
- Living Room
- Property is near public transit
- Porch
- 1-minute walk to St. Annes Park
About This Home
As of November 2024**Attention Investors and Homeowners!** Whether you're seeking an outstanding long-term investment, a 1031 exchange before year-end, or looking to offset your mortgage with rental income, this property offers the perfect opportunity. Rent out all three units and generate over $100k in gross annual income, flip for condos, or live in the beautifully updated first-floor unit. Located just a few blocks from the proposed new commuter rail station. Exceptionally updated three-family home features 3 bedrooms and 1 bathroom in each unit. The units have porches to enjoy summer evenings. Full basement for storage and it walks out to nice size yard. Off street parking for 4-5 cars. Two units are already fully rented to excellent tenants, while the first-floor unit is available for you to rent or occupy as you see fit. Rare to find an all 3 bedroom unit multifamily. Don’t miss this incredible chance!
Last Agent to Sell the Property
Berkshire Hathaway HomeServices Commonwealth Real Estate Listed on: 10/04/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,734
Year Built
- Built in 1900
Home Design
- Brick Foundation
- Stone Foundation
- Frame Construction
- Shingle Roof
Interior Spaces
- 3,159 Sq Ft Home
- Living Room
Kitchen
- Range
- Microwave
- Freezer
- Dishwasher
Flooring
- Wood
- Tile
Bedrooms and Bathrooms
- 9 Bedrooms
- 3 Full Bathrooms
Unfinished Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
- Interior Basement Entry
Parking
- 5 Car Parking Spaces
- Driveway
- Open Parking
- Off-Street Parking
Location
- Property is near public transit
- Property is near schools
Utilities
- No Cooling
- Forced Air Heating System
- Heating System Uses Natural Gas
Additional Features
- Porch
- 6,865 Sq Ft Lot
Listing and Financial Details
- Total Actual Rent $8,375
- Rent includes unit 1(water), unit 2(water), unit 3(water)
- Tax Lot 0113
- Assessor Parcel Number 2130904
Community Details
Overview
- 3 Units
- Property has 1 Level
Amenities
- Medical Services
- Shops
Building Details
- Net Operating Income $63,300
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Mar 18, 2020
Sold by
Bakst Kerin M
Bought by
Bakst Justin B and Bakst Kerin M
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$470,000
Interest Rate
3.4%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 5, 2005
Sold by
Labranche Raymond A
Bought by
Cole Kerin
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$449,000
Interest Rate
6.01%
Mortgage Type
Purchase Money Mortgage
Similar Homes in Salem, MA
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | None Available | |
| Deed | $449,000 | -- | |
| Deed | $449,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,059,250 | Purchase Money Mortgage | |
| Closed | $1,059,250 | Purchase Money Mortgage | |
| Closed | $616,000 | Stand Alone Refi Refinance Of Original Loan | |
| Closed | $470,000 | New Conventional | |
| Previous Owner | $449,000 | Purchase Money Mortgage |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/05/2024 11/05/24 | Sold | $1,115,000 | +6.2% | $353 / Sq Ft |
| 10/08/2024 10/08/24 | Pending | -- | -- | -- |
| 10/04/2024 10/04/24 | For Sale | $1,050,000 | -- | $332 / 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 | $8,346 | $736,000 | $214,800 | $521,200 |
| 2024 | $7,734 | $665,600 | $204,100 | $461,500 |
| 2023 | $7,579 | $605,800 | $188,400 | $417,400 |
| 2022 | $7,568 | $571,200 | $182,100 | $389,100 |
| 2021 | $7,263 | $526,300 | $169,600 | $356,700 |
| 2020 | $6,916 | $478,600 | $160,100 | $318,500 |
| 2019 | $6,677 | $442,200 | $152,000 | $290,200 |
| 2018 | $6,215 | $404,100 | $144,400 | $259,700 |
| 2017 | $5,808 | $366,200 | $121,800 | $244,400 |
| 2016 | $5,651 | $360,600 | $116,200 | $244,400 |
| 2015 | $5,510 | $335,800 | $106,800 | $229,000 |
Source: Public Records
Agents Affiliated with this Home
-
Helen Bolino
Seller's Agent in 2024
Helen Bolino
Berkshire Hathaway HomeServices Commonwealth Real Estate
(617) 797-2222
1 in this area
80 Total Sales
-
Pax Estate Group
Buyer's Agent in 2024
Pax Estate Group
eXp Realty
1 in this area
23 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73298609
APN: SALE-000023-000000-000113
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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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