NOT LISTED FOR SALE

5 Palmer St Salem, MA 01970

The Point Neighborhood

Estimated Value: $930,209 - $1,068,000

9 Beds
3 Baths
2,940 Sq Ft
$341/Sq Ft Est. Value

Last Sold March 20, 2020

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

Est. 59% increase in value since last sale

Current estimated payment $6,274/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 Listed By

Maja Juric

United Brokers Listed on: 11/06/2019

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%
Total Days on Market
82
Current Estimated Value
$1,003,052

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$373,052
Avg. Annual Appreciation
8.12%
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

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
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

Similar Homes in Salem, MA

  • 11 Ropes St, Salem, MA 01970

    $969,000

    • 8 Beds
    • 4 Baths
    • 4,486 Sq Ft
    • 11 Ropes St
    • Salem, MA

    Discover the potential of this spacious and well-located multifamily property, offering versatility and strong income potential. Property Features, three large, well-appointed units, generously sized bedrooms in each unit, private driveway plus additional resident street parking. Short walking distance to the commuter rail station, steps from Salem’s vibrant downtown shopping and restaurant

    Sonya Aoude Law Offices of Bradford Eliot Keene, P.C.

    Section Image
  • 17 Dunlap St, Salem, MA 01970

    $1,149,999

    • 7 Beds
    • 3 Baths
    • 3,468 Sq Ft
    • 17 Dunlap St
    • Salem, MA

    17 Dunlap is perfect opportunity for a first foray into investment properties, someone looking to add to an existing portfolio or an owner-occupier. The first and second floor have an expansive living/dining room, large kitchen, 3 bedrooms, and in unit laundry available. The second floor unit also boasts a third floor add on including large bathroom with tub, walk in shower and extensive closet

    Matthew Sears Aluxety

    Section Image
  • 1 Japonica Ave, Salem, MA 01970

    $1,075,000

    • 8 Beds
    • 3.5 Baths
    • 5,418 Sq Ft
    • 1 Japonica Ave
    • Salem, MA

    We are pleased to present this multifamily offering which consists of 3 large units, ample on-site parking, and two garages currently used as parking and storage. The property has been very well maintained but offers investors and end-users future value through cosmetic improvements and activating additional income opportunities. The property is ideally located in a quiet residential neighborhood

    Kevin Benzinger Boston Realty Advisors

    Section Image
  • 18 Balcomb St, Salem, MA 01970

    $1,075,000

    • 7 Beds
    • 3.5 Baths
    • 4,310 Sq Ft
    • 18 Balcomb St
    • Salem, MA

    Perfect for owner-occupied income producing property, straight-up investment opportunity, or potential condo conversion for developers. Rare Salem 2-family (side-by-side) duplex offering spacious sunny rooms with 2 driveways and good-sized yard seeks new steward. Unit 1 (current owner’s home) offers 4 bedrooms, renovated kitchen and 2 full baths plus interior access to own basement with laundry.

    Nancy Peterson J. Barrett & Company

    Section Image
See All Homes in Salem

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

    30 Total Sales

    Michael Ramos
    Section Image
  • Mark Pitzi

    Buyer's Agent in 2020

    Mark Pitzi

    Coldwell Banker Realty - Beverly

    (978) 816-6552

    93 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

Homes for Sale in Salem, MA

This home is located at 5 Palmer St, Salem, MA 01970 since 06 November 2019 and is currently estimated at $1,003,052, approximately $341 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.

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.

MLS Property Information Network (MLS PIN) 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.

Nearby Homes