Seller's Agent in 2022
David Cutler
North Shore Realty Pros
(978) 869-8042
3 in this area
44 Total Sales
51 Ocean Ave Salem, MA 01970
South Salem NeighborhoodEstimated Value: $1,109,000 - $1,485,541
7
Beds
3.5
Baths
3,710
Sq Ft
$346/Sq Ft
Est. Value
Highlights
- Corner Lot
- Tankless Water Heater
- Heating Available
- Cooling Available
About This Home
As of December 2022Must see this beautifully renovated 3-Family in a great neighborhood only 3/4 mile stroll to downtown Salem or 1/2 mile to the beach, park and hiking trails! Convenient to everything! Too many updates to list them all but the owner has done the exterior (roof, siding, windows, doors) and inside features 3 separate high-efficiency gas heat & hot water systems, gleaming hardwood flooring, thoughtfully updated kitchens, custom tiled baths, private laundry for each unit, Spacious wrap-around porch on 1st floor and 2nd floor porch. Off-street parking for 5 cars. Very low maintenance! Perfect opportunity for owner-occupant, extended family living, or an ideal 1031 exchange or investment with record high rents in the area, proximity to Salem State University. Property just got renovated and is vacant so owner can occupy any unit and/or rent at current market rents!! Private showings start Thursday & Friday. Open House Sat 12/10 & Sun 12/11 from 11AM-1PM
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,885
Year Built
- Built in 1910
Lot Details
- 3,080 Sq Ft Lot
- Corner Lot
Home Design
- Triplex
Interior Spaces
- 3,710 Sq Ft Home
- Insulated Windows
- Insulated Doors
Bedrooms and Bathrooms
- 7 Bedrooms
Parking
- 5 Car Parking Spaces
- Paved Parking
- Open Parking
- Off-Street Parking
Utilities
- Cooling Available
- 1 Cooling Zone
- 3 Heating Zones
- Heating Available
- Tankless Water Heater
- Gas Water Heater
Listing and Financial Details
- Total Actual Rent $8,650
- Assessor Parcel Number M:33 L:0395,2134983
Community Details
Overview
- 3 Units
- Property has 1 Level
Building Details
- Net Operating Income $103,800
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 17, 2012
Closed on
Aug 2, 2012
Sold by
Loureiro John F
Bought by
Paulino Elizabeth F
Seller's Agent
Linda Moutsoulas
Century 21 North East
Buyer's Agent
Linda Moutsoulas
Century 21 North East
List Price
$399,000
Sold Price
$380,000
Premium/Discount to List
-$19,000
-4.76%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$904,885
Avg. Annual Appreciation
9.74%
Original Mortgage
$373,117
Interest Rate
3.37%
Mortgage Type
FHA
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
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Paulino Elizabeth F | $380,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Ira Hyundai Inc | $500,000 | |
| Open | Hinchion Elizabeth F | $770,500 | |
| Closed | Paulino Elizabeth F | $42,000 | |
| Closed | Paulino Elizabeth F | $373,117 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/30/2022 12/30/22 | Sold | $1,250,000 | -3.1% | $337 / Sq Ft |
| 12/15/2022 12/15/22 | Pending | -- | -- | -- |
| 12/06/2022 12/06/22 | For Sale | $1,290,000 | +239.5% | $348 / Sq Ft |
| 08/02/2012 08/02/12 | Sold | $380,000 | -4.8% | $102 / Sq Ft |
| 07/03/2012 07/03/12 | Pending | -- | -- | -- |
| 05/17/2012 05/17/12 | For Sale | $399,000 | -- | $108 / 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 | $13,040 | $1,149,900 | $162,800 | $987,100 |
| 2024 | $11,917 | $1,025,600 | $154,200 | $871,400 |
| 2023 | $10,303 | $823,600 | $142,800 | $680,800 |
| 2022 | $9,885 | $746,000 | $134,200 | $611,800 |
| 2021 | $9,568 | $693,300 | $134,200 | $559,100 |
| 2020 | $8,735 | $604,500 | $116,000 | $488,500 |
| 2019 | $8,651 | $572,900 | $110,200 | $462,700 |
| 2018 | $7,941 | $516,300 | $105,100 | $411,200 |
| 2017 | $7,472 | $471,100 | $85,700 | $385,400 |
| 2016 | $7,310 | $466,500 | $81,100 | $385,400 |
| 2015 | $6,874 | $418,900 | $73,100 | $345,800 |
Source: Public Records
Agents Affiliated with this Home
-
David Cutler
-
Haley Paster Scimone
Buyer's Agent in 2022
Haley Paster Scimone
Sagan Harborside Sotheby's International Realty
(781) 367-5523
2 in this area
104 Total Sales
-
L
Seller's Agent in 2012
Linda Moutsoulas
Century 21 North East
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73063078
APN: SALE-000033-000000-000395
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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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