NOT LISTED FOR SALE

614 E 7th St Unit 618 Salem, VA 24153

Estimated Value: $238,251 - $298,000

5 Beds
2 Baths
2,062 Sq Ft
$132/Sq Ft Est. Value

Last Sold March 15, 2019

Last sale price $129,000 $63 Per Sq Ft

Est. 111% increase in value since last sale

Current estimated payment $1,528/month

5 Days on Market

Highlights

  • No HOA
  • Forced Air Heating and Cooling System
  • 4-minute walk to Salem Parks & Recreation
  • G.W. Carver Elementary School Rated 9+

About This Home

As of March 2019

Rare opportunity to own a remodeled duplex in Salem. Most recent updates include roof, windows, siding, refinished floors and carpet, kitchen and baths. Great rental income or live on one side and rent the other side. Both sides have gas heat. 618 7th Street is 3 bedrooms with central air, 1 bath, kitchen, dining room, living room, heated laundry/storage room, also additional storage room on back of home. 614 7th Street is 2 bedrooms, large kitchen with attached dining area, spacious living room, full bath. Storage building has locks to share with both sides.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,381

Year Built

  • Built in 1959

Lot Details

  • 7,405 Sq Ft Lot

Home Design

  • Duplex

Interior Spaces

  • 2,062 Sq Ft Home
  • Crawl Space

Parking

  • 2 Parking Spaces
  • Off-Site Parking

Schools

  • G. W. Carver Elementary School
  • Andrew Lewis Middle School
  • Salem High School

Utilities

  • Forced Air Heating and Cooling System
  • Natural Gas Water Heater

Listing and Financial Details

  • Tenant pays for all utilities
  • Tax Lot 31 & 32

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 2 Leased Units
  • Operating Expense $8,200
  • Gross Income $17,000
  • Net Operating Income $8,800

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,381

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Heating System: Forced Air Gas
  • Type: Multi-Family
  • Has Basement: Crawl Space
  • Cooling System: Central Cooling
  • Major Area: 03 - City of Salem
  • NumberLeasedUnits: 2.00
  • NumberVehicleSpaces: 2.00
  • Hoa2 Or Poa: No
  • RatifiedContractDt: 2019-02-05
  • TotalAnnualExpen: 8200.00
  • Water Class: N/A
  • Water Heater Energy: Natural Gas
  • YardSign: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement YN: No

Garage/Parking

  • Parking Description: Off Site

Utilities

  • Sewer Description: Public Sewer
  • Water Description: Public Water

Association/Amenities

  • Misc Features: Maint-Free Exterior

Schools

  • Elementary School: G. W. Carver
  • Middle School: Andrew Lewis
  • High School: Salem High

Lot Info

  • Property Group Id: 19990816212116581394000000
  • Total Acreage: 0.17
  • Lot: 31 & 32

Building Info

  • Year Built: 1959

Tax Info

  • Taxes (6 mo): 1381.00
  • FILLTAXID: 186-9-5

Multi Family

  • Lease Type: Month-to-Month
  • Tenant Pays: All Utilities
  • Units In Building: 2.00
  • Multi Family Type: Duplex

MLS Schools

  • Elementary School: G. W. Carver
  • HighSchool: Salem High
  • Middle School: Andrew Lewis

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 31, 2019
Closed on
Mar 11, 2019
Sold by
Basham Terry L and Basham Katherine B
Bought by
Woods Jason P
List Price
$134,500
Sold Price
$129,000
Premium/Discount to List
-$5,500
-4.09%
Current Estimated Value
$272,813

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$143,813
Avg. Annual Appreciation
12.04%
Original Mortgage
$109,650
Outstanding Balance
$96,401
Interest Rate
4.4%
Mortgage Type
New Conventional
Estimated Equity
$176,412

Purchase Details

Closed on
Jul 23, 2007
Sold by
Vision Realty Investments Llc
Bought by
Basham Terry L and Basham Katherine B

Purchase Details

Closed on
Jun 21, 2005
Sold by
Jones Lilburn Leroy and Holtzman Marcia Jonas
Bought by
Vision Realty Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$80,000
Interest Rate
5.71%
Mortgage Type
Credit Line Revolving
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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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
Woods Jason P $129,000 First Choice Title & Setmnt
Basham Terry L -- Multiple
Vision Realty Investments Llc -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Woods Jason P $109,650
Previous Owner Vision Realty Investments Llc $80,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/15/2019 03/15/19 Sold $129,000 -4.1% $63 / Sq Ft
02/05/2019 02/05/19 Pending -- -- --
01/31/2019 01/31/19 For Sale $134,500 -- $65 / Sq Ft
Source: Roanoke Valley Association of REALTORS®

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 $979 $166,000 $35,900 $130,100
2024 $916 $152,700 $34,900 $117,800
2023 $1,688 $140,700 $32,400 $108,300
2022 $1,606 $133,800 $28,400 $105,400
2021 $1,546 $128,800 $26,200 $102,600
2020 $1,470 $122,500 $26,200 $96,300
2019 $1,404 $117,000 $26,200 $90,800
2018 $1,106 $93,700 $26,200 $67,500
2017 $1,106 $93,700 $26,200 $67,500
2016 $1,106 $93,700 $26,200 $67,500
2015 $1,097 $93,000 $26,300 $66,700
2014 $1,097 $93,000 $26,300 $66,700
Source: Public Records

Map

Source: Roanoke Valley Association of REALTORS®

MLS Number: 855604

Roanoke Valley Association of REALTORS®

APN: 186-9-5

Virginia Salem City County Salem 24153

614 E 7th St Unit 618, Salem, VA

This home is located at 614 E 7th St Unit 618, Salem, VA 24153 since 31 January 2019 and is currently estimated at $272,813, approximately $132 per square foot. This property was built in 1959. 614 E 7th St Unit 618 is a home located in Salem City with nearby schools including G.W. Carver Elementary School, Andrew Lewis Middle School, and Salem High 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.

Roanoke Valley Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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