NOT LISTED FOR SALE

5 Palmer St Salem, MA 01970

The Point Neighborhood

Estimated Value: $915,000 - $1,029,000

9 Beds
3 Baths
2,940 Sq Ft
$329/Sq Ft Est. Value

Last Sold March 20, 2020

Last sale price $630,000 $214 Per Sq Ft

Est. 53% increase in value since last sale

Current estimated payment $6,098/month

82 Days on Market

Highlights

  • Wood Flooring
  • Porch
  • 2-minute walk to Mary Jane Lee Park

About This Home

As of March 2020

Take advantage of these low interest rates and invest in this spacious 3-family home just blocks away from Downtown Salem. Whether you're an investor looking to add to your portfolio, first time home-buyer looking for some extra rental income, or anywhere in between- this home simply delivers! All 3- units include 3 bedrooms, 1 bathroom, hardwood floors & ceramic tiles, separate living and dining area, high ceilings, and plenty of windows for that beautiful natural light. There is a full basement with coin-op washer/ dryer, oil heat for the first unit. Second and third units gas heat. All three units are deleaded. About a mile and a half from Salem Willows, with plenty of local restaurants, and shopping centers in between, and minutes from rt. 107, rt. 1A, and rt. 128.

Last Agent to Sell the Property

Maja Juric

United Brokers Listed on: 11/06/2019

Co-Listed By

Michael Ramos

United Brokers

Last Buyer's Agent

Mark Pitzi

Coldwell Banker Realty - Beverly

Coldwell Banker Realty - Beverly

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,551

Year Built

  • Built in 1915

Lot Details

  • 2,614

Flooring

  • Wood
  • Tile

Additional Features

  • Porch
  • Natural Gas Water Heater
  • Basement

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,551

Year Built

Built in 1915

Lot Details

0

Listing Details

  • Property Type: Multi-family
  • Year Built Description: Actual
  • List Price Per Sq Ft: 219.39
  • Comp Based On: Net Sale Price
  • Year Built: 1915
  • Lead Paint: Certified Treated
  • Levels: 3
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1915

Interior Features

  • Flooring: Tile, Hardwood
  • Total Flrs: 6
  • No Bedrooms: 9
  • Total Brs: 9
  • Full Bathrooms: 3
  • Total Fbh: 3
  • No Rooms: 12
  • Rms Common: Laundry
  • Basement: Y
  • Basement Features: Full, Unfinished Basement
  • Main Lo: BB9067
  • Main So: C95243
  • Estimated Sq Ft: 2940.00

Exterior Features

  • Construction: Frame
  • Roof Material: Asphalt/Fiberglass Shingles
  • Exterior: Clapboard
  • Exterior Features: Porch
  • Foundation: Poured Concrete

Utilities

  • Sewer: City/Town Sewer
  • Water: City/Town Water
  • Electric Features: 110 Volts
  • Hot Water: Natural Gas

Condo/Co-op/Association

  • Amenities: Public Transportation

Lot Info

  • Assessments: 376100.00
  • Acre: 0.06
  • Lot Size: 2613.00
  • Page: 241
  • Zoning: R3
  • Lot Description: Corner

Green Features

  • Energy Features: Insulated Windows

Multi Family

  • Total Levels: 3
  • Total Rent: 4905
  • Total Rms: 15
  • No Units: 3
  • Mf Type: 3 Family

Tax Info

  • Taxes: 5679.00
  • Assessor Parcel Number: 2135707

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 6, 2019
Closed on
Mar 12, 2020
Sold by
Soares Alicia M and Soares Floriel
Bought by
Dosumu Oyedola
Seller's Agent
Maja Juric
United Brokers
Buyer's Agent
Mark Pitzi
Coldwell Banker Realty - Beverly
List Price
$645,000
Sold Price
$630,000
Premium/Discount to List
-$15,000
-2.33%
Current Estimated Value
$966,716

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$336,716
Avg. Annual Appreciation
8.50%
Original Mortgage
$618,589
Interest Rate
3.4%
Mortgage Type
FHA

Purchase Details

Closed on
Jul 6, 2005
Sold by
Mcgrath Sean T
Bought by
Soares Alicia M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$305,600
Interest Rate
5.71%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 15, 1994
Sold by
Viola M Pelletier Rt
Bought by
Mcgrath Sean T
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Dosumu Oyedola $630,000 None Available
Soares Alicia M $382,000 --
Mcgrath Sean T $126,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Dosumu Akinyemi $78,000
Open Oyedola-Dosumu Akinyemi $592,000
Closed Dosumu Oyedola $618,589
Previous Owner Mcgrath Sean T $440,000
Previous Owner Mcgrath Sean T $110,000
Previous Owner Mcgrath Sean T $305,600
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/20/2020 03/20/20 Sold $630,000 -2.3% $214 / Sq Ft
01/27/2020 01/27/20 Pending -- -- --
11/06/2019 11/06/19 For Sale $645,000 -- $219 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

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 $8,551 $754,100 $143,700 $610,400
2024 $7,920 $681,600 $143,700 $537,900
2023 $7,572 $605,300 $126,800 $478,500
2022 $7,492 $565,400 $118,300 $447,100
2021 $7,161 $518,900 $110,400 $408,500
2020 $5,810 $402,100 $81,400 $320,700
2019 $5,679 $376,100 $71,800 $304,300
2018 $5,281 $343,400 $71,800 $271,600
2017 $5,021 $316,600 $61,300 $255,300
2016 $4,961 $316,600 $61,300 $255,300
2015 $4,198 $255,800 $52,700 $203,100
Source: Public Records

Agents Affiliated with this Home

  • Maja Juric

    Seller's Agent in 2020

    Maja Juric

    United Brokers

    (781) 462-5171

    34 Total Sales

    Maja Juric
    Section Image
  • Michael Ramos

    Seller Co-Listing Agent in 2020

    Michael Ramos

    United Brokers

    (617) 230-2660

    32 Total Sales

    Michael Ramos
    Section Image
  • Mark Pitzi

    Buyer's Agent in 2020

    Mark Pitzi

    Coldwell Banker Realty - Beverly

    (978) 816-6552

    95 Total Sales

    Mark Pitzi
    Section Image
See All Agents

Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72589453

MLS Property Information Network (MLS PIN)

APN: SALE-000034-000000-000248

Massachusetts Essex County Salem 01970 The Point

5 Palmer St, Salem, MA

This home is located at 5 Palmer St, Salem, MA 01970 since 06 November 2019 and is currently estimated at $966,716, approximately $328 per square foot. This property was built in 1915. 5 Palmer St is a home located in Essex County with nearby schools including Saltonstall School, Carlton Elementary School, and Bates Elementary School.

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