M
Seller's Agent in 2025
Michael McCarthy
North Shore Realty Advisors
5 Ropes St Salem, MA 01970
The Point Neighborhood
34
Beds
12
Baths
13,472
Sq Ft
0.4
Acres
Highlights
- 0.4 Acre Lot
- Property is near public transit
- Jogging Path
- Deck
- Wood Flooring
- 5-minute walk to Mary Jane Lee Park
About This Home
As of May 2025Investors take notice of a rare offering in downtown Salem. 5 Ropes Street and 8-10 Porter Street Court are two adjacent 3-story 6-unit buildings with a total square footage of 19,720± with a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages for additional income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and the opportunity to increase rents to market with minimal capital. The offering is near public transportation, restaurants, and many local amenities within walking distance of the subject properties.
Last Agent to Sell the Property
Michael McCarthy
North Shore Realty Advisors Listed on: 02/28/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $28,941
Year Built
- Built in 1915
Lot Details
- 0.4 Acre Lot
- Level Lot
Parking
- 6 Car Garage
- Shared Driveway
- Open Parking
- Off-Street Parking
Home Design
- Brick Exterior Construction
- Stone Foundation
- Frame Construction
- Shingle Roof
- Rubber Roof
- Stone
Interior Spaces
- 13,472 Sq Ft Home
- Insulated Windows
- Insulated Doors
- Basement Fills Entire Space Under The House
Flooring
- Wood
- Tile
- Vinyl
Bedrooms and Bathrooms
- 34 Bedrooms
- 12 Full Bathrooms
Utilities
- 12 Heating Zones
- 200+ Amp Service
Additional Features
- Deck
- Property is near public transit
Listing and Financial Details
- Total Actual Rent $29,376
Community Details
Overview
- 12 Units
- Property has 1 Level
Amenities
- Shops
Recreation
- Park
- Jogging Path
Building Details
- Electric Expense $1,597
- Insurance Expense $19,737
- Water Sewer Expense $10,618
- Operating Expense $109,714
- Net Operating Income $251,198
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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 |
|---|---|---|---|---|
| 05/06/2025 05/06/25 | Sold | $3,830,000 | +3.5% | $284 / Sq Ft |
| 03/11/2025 03/11/25 | Pending | -- | -- | -- |
| 02/28/2025 02/28/25 | For Sale | $3,700,000 | -- | $275 / 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 | $14,435 | $1,272,900 | $199,600 | $1,073,300 |
| 2024 | $12,171 | $1,047,400 | $189,100 | $858,300 |
| 2023 | $11,773 | $941,100 | $175,100 | $766,000 |
| 2022 | $11,578 | $873,800 | $164,600 | $709,200 |
| 2021 | $10,391 | $753,000 | $164,600 | $588,400 |
| 2020 | $9,898 | $685,000 | $142,200 | $542,800 |
| 2019 | $9,442 | $625,300 | $135,200 | $490,100 |
| 2018 | $8,507 | $553,100 | $128,900 | $424,200 |
| 2017 | $8,185 | $516,100 | $105,100 | $411,000 |
| 2016 | $8,000 | $510,500 | $99,500 | $411,000 |
| 2015 | $8,043 | $490,100 | $89,700 | $400,400 |
Source: Public Records
Agents Affiliated with this Home
-
-
Dan Pouladian
Seller Co-Listing Agent in 2025
Dan Pouladian
North Shore Realty Advisors
(617) 548-7737
5 in this area
27 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73339638
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.
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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