Michelle Doyle
Flow Realty, Inc.
(978) 690-4362
50 Total Sales
1 in Bridge Street
$450,000 Price
58 Bridge St Salem, MA 01970
Bridge Street Neighborhood
9
Beds
10
Baths
4,501
Sq Ft
5,114
Sq Ft Lot
Highlights
- Marina
- Property is near golf course, public transit, and schools
- Corner Lot
- Medical Services
- Wood Flooring
- 2-minute walk to Charles R. Curtis Memorial Park
About This Home
As of August 2022Investors: Rare opportunity to buy a Salem MA 6 Family located in the desirable Salem Neck neighborhood with easy access to public transportation, boating, public beaches, and downtown Salem and Beverly MA. Current Cap Rate is 7% at a $950,000 valuation. Heat, hot water and electric are separate for each of the units. Property is sold AS IS with tenants. All Tenants are TAW. Property is in need of updating. Projected Cap Rate after updating is 8.2% based on a valuation of $1,250,000. Reasonable projected rents were used. Note: There are 7 gas hot water boilers and 7 gas hot water tanks as the townhouse unit has two heating systems and 2 hot water tanks, one for each floor. This property is a Potential Condominium Conversion. Request our Investment Analysis of this Property. Offer Instructions: for Financed Offers, include a commercial loan pre-approval; for Cash Offers include proof of funds.
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,397
Year Built
- Built in 1870
Lot Details
- 5,114 Sq Ft Lot
- Corner Lot
- Level Lot
Home Design
- Brick Foundation
- Stone Foundation
- Frame Construction
- Shingle Roof
- Rubber Roof
Interior Spaces
- 4,501 Sq Ft Home
- Insulated Windows
- Basement Fills Entire Space Under The House
Flooring
- Wood
- Vinyl
Bedrooms and Bathrooms
- 9 Bedrooms
- 10 Full Bathrooms
Parking
- 5 Car Parking Spaces
- Off-Street Parking
Utilities
- 7 Heating Zones
- Heating Available
- Natural Gas Connected
- Gas Water Heater
Additional Features
- Porch
- Property is near golf course, public transit, and schools
Listing and Financial Details
- Total Actual Rent $8,050
- Rent includes unit 1(heat electric water hot water), unit 2(heat electric gas water hot water), unit 3(heat electric water hot water), unit 4(water)
- Assessor Parcel Number 2137296
Community Details
Overview
- 6 Units
- Property has 1 Level
Amenities
- Medical Services
- Shops
- Coin Laundry
Recreation
- Marina
- Park
Building Details
- Operating Expense $30,029
- Net Operating Income $66,571
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 21, 2022
Closed on
Aug 3, 2022
Sold by
Young Raymond L
Bought by
Seller's Agent
Kathy Sullivan
RE/MAX Beacon
Buyer's Agent
Maria Salzillo
LAER Realty Partners
List Price
$950,000
Sold Price
$965,000
Premium/Discount to List
$15,000
1.58%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,225,000
Interest Rate
5.81%
Mortgage Type
Commercial
Purchase Details
Listed on
Jun 21, 2022
Closed on
Jul 27, 2022
Sold by
Sagrado Rt and Young
Bought by
Young Raymond L
Seller's Agent
Kathy Sullivan
RE/MAX Beacon
Buyer's Agent
Maria Salzillo
LAER Realty Partners
List Price
$950,000
Sold Price
$965,000
Premium/Discount to List
$15,000
1.58%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,225,000
Interest Rate
5.81%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 15, 1987
Sold by
Costa Leonard
Bought by
Walsh Dean
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Bridge Street, MA
-
Michelle Doyle
-
David Brown
David Brown
Coldwell Banker Realty - Beverly
(339) 666-1240
60 Total Sales
1 in Bridge Street
$855,000 Price
-
Juan Lopera-Martinez
Juan Lopera-Martinez
eXp Realty LLC
(339) 338-4961
85 Total Sales
1 in Bridge Street
$650,000 Price
-
Steven Mango
Steven Mango
StartPoint Realty
(339) 444-1357
60 Total Sales
1 in Bridge Street
$610,000 Price
-
North Shore and More Team
North Shore and More Team
eXp Realty LLC - Corporate Office
(339) 444-2882
36 Total Sales
2 in Bridge Street
$520K - $670K Price Range
-
Alexa McCormick
Alexa McCormick
Responds QuicklyLyv Realty
(508) 281-2432
33 Total Sales
1 in Bridge Street
$328,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $965,000 | None Available | ||
| Young Raymond L | -- | None Available | |
| Walsh Dean | $121,284 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $2,370,000 | ||
| Closed | Jam 5 Properties Llc | $1,225,000 | |
| Previous Owner | Sagrado Rt | $150,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/03/2022 08/03/22 | Sold | $965,000 | +1.6% | $214 / Sq Ft |
| 06/30/2022 06/30/22 | Pending | -- | -- | -- |
| 06/21/2022 06/21/22 | For Sale | $950,000 | -- | $211 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $9,781 | $862,500 | $153,400 | $709,100 |
| 2024 | $8,662 | $745,400 | $153,400 | $592,000 |
| 2023 | $8,094 | $647,000 | $135,400 | $511,600 |
| 2022 | $8,397 | $633,700 | $126,400 | $507,300 |
| 2021 | $8,200 | $594,200 | $117,900 | $476,300 |
| 2020 | $8,330 | $576,500 | $122,200 | $454,300 |
| 2019 | $7,875 | $521,500 | $111,300 | $410,200 |
| 2018 | $6,944 | $451,500 | $96,300 | $355,200 |
| 2017 | $6,393 | $403,100 | $77,000 | $326,100 |
| 2016 | $6,317 | $403,100 | $77,000 | $326,100 |
| 2015 | $6,301 | $384,000 | $66,200 | $317,800 |
Source: Public Records
Agents Affiliated with this Home
-
Kathy Sullivan
Seller's Agent in 2022
Kathy Sullivan
RE/MAX
(781) 771-9949
1 in this area
58 Total Sales
-
Terry Sullivan
Seller Co-Listing Agent in 2022
Terry Sullivan
RE/MAX
(781) 771-9929
1 in this area
30 Total Sales
-
Maria Salzillo
Buyer's Agent in 2022
Maria Salzillo
Laer Realty
(508) 527-6910
1 in this area
106 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73001343
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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