NOT LISTED FOR SALE

7 Cloutman St Salem, MA 01970

Castle Hill Neighborhood

Estimated Value: $626,000 - $742,000

4 Beds
3 Baths
1,200 Sq Ft
$551/Sq Ft Est. Value

Last Sold September 21, 2021

Last sale price $523,000 $436 Per Sq Ft

Est. 26% increase in value since last sale

Current estimated payment $4,086/month

14 Days on Market

Highlights

  • Medical Services
  • Porch
  • Park
  • Property is near public transit
  • Cooling Available
  • 3-minute walk to St. Annes Park

About This Home

As of September 2021

This beautiful two unit investment property is perfect for an owner occupant or investor. Only 1 mile to downtown Salem offering amazing restaurants, shopping, museums, and Salem Station MBTA commuter rail. Wonderful opportunity to own a multi family. Not many on the market! Unit one offers new stainless steel appliances, beautiful flooring and lighting throughout the unit, beautiful kitchen and bathroom. Also in unit one is a finished downstairs level that offers two great size rooms that could be used for the new owners discretion. In unit two you have a stunning one bed one bath that has an open concept style for the kitchen and living room. The bedroom is spacious and comfortable with a decent sized closet. New siding on this property as well as a paved driveway. Outdoor space. 4-5 parking spaces. Both units are rented but property can be delivered vacant. Small portion of lot has an easement.Home is sold as it is! Offers due Monday 7/12/21 at 5pm.

Last Agent to Sell the Property

Wilson Brea

eXp Realty Listed on: 07/07/2021

eXp Realty

Last Buyer's Agent

Igor Da Silva

eXp Realty

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,711

Year Built

  • Built in 1915

Lot Details

  • 5,227

Home Design

  • Duplex
  • Block Foundation
  • Shingle Roof
  • Concrete Perimeter Foundation
  • Stone

Interior Spaces

  • 1,200 Sq Ft Home
  • Property has 2 Levels
  • Insulated Windows
  • Finished Basement
  • Interior Basement Entry
  • Microwave
  • Washer

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Full Bathrooms

Parking

  • 6 Car Parking Spaces
  • Driveway
  • Paved Parking
  • Open Parking
  • Off-Street Parking

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • Cooling Available
  • Heating Available
  • 100 Amp Service
  • Electric Water Heater

Additional Features

  • Porch
  • 5,227 Sq Ft Lot

Listing and Financial Details

  • Total Actual Rent $3,150
  • Tax Lot .12
  • Assessor Parcel Number 2131275

Community Details

Amenities

  • Medical Services
  • Shops

Recreation

  • Park

Additional Features

  • 2 Units
  • Net Operating Income $37,800

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,711

Year Built

Built in 1915

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Duplex
  • Year Built: 1915
  • Buyer Agency Type: %
  • Transaction Broker Type: %
  • Year Built Details: Actual,Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • Special Features: None
  • Stories: 4

Interior Features

  • Interior Amenities: Unit 1(Storage), Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen)
  • Fireplace YN: No
  • Appliances: Unit 1(Range,Microwave,Refrigerator,Washer,Dryer), Unit 2(Range,Microwave,Refrigerator), Electric Water Heater, Utility Connections for Electric Range
  • Total Bedrooms: 4
  • Full Bathrooms: 3
  • Total Bathrooms: 2
  • Basement: Finished, Interior Entry
  • Living Area: 1200
  • Stories Total: 4
  • Window Features: Insulated Windows
  • MAIN LO: AC0756
  • MAIN SO: AN4624

Exterior Features

  • Construction Materials: Stone
  • Foundation Details: Concrete Perimeter, Block
  • Patio And Porch Features: Porch
  • Road Frontage Type: Public
  • Roof: Shingle
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Paved Drive, Off Street, Paved
  • Total Parking Spaces: 6

Utilities

  • Sewer: Public Sewer
  • Utilities: for Electric Range
  • Cooling: Unit 1(Window AC), Unit 2(Window AC)
  • Heating: Unit 1(Electric Baseboard,Electric), Unit 2(Electric Baseboard,Electric)
  • Cooling Y N: Yes
  • Electric: 100 Amp Service
  • Heating YN: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Park, Medical Facility, Highway Access, Public School, T-Station

Lot Info

  • Parcel Number: 2131275
  • Zoning: B
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.12
  • Lot Size Sq Ft: 5227.2
  • Lot Size Units: Acres
  • LOT SIZE: 5227

Tax Info

  • Tax Year: 2021
  • Tax Annual Amount: 4711
  • Tax Lot: .12

Multi Family

  • Net Operating Income: 37800
  • Number Of Units Total: 2
  • Total Actual Rent: 3150
  • LEVELS 1: 2
  • LEASE 2: N
  • LEASE 1: N

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 7, 2021
Closed on
Sep 21, 2021
Sold by
Pena Julio C
Bought by
Fernandes Andreia R and Puerta Eder J
Seller's Agent
Wilson Brea
eXp Realty
Buyer's Agent
Igor Da Silva
eXp Realty
List Price
$529,999
Sold Price
$523,000
Premium/Discount to List
-$6,999
-1.32%
Current Estimated Value
$660,809

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$137,809
Avg. Annual Appreciation
5.75%
Original Mortgage
$513,527
Outstanding Balance
$465,229
Interest Rate
2.8%
Mortgage Type
FHA
Estimated Equity
$195,580

Purchase Details

Closed on
Mar 22, 2021
Sold by
30 Mason St Realty Llc
Bought by
Pena Julio C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$287,000
Interest Rate
2.8%
Mortgage Type
New Conventional

Purchase Details

Listed on
Apr 29, 2019
Closed on
May 13, 2019
Sold by
Butler Scott N
Bought by
30 Mason St Realty Llc
Seller's Agent
Shirley Burke
Coldwell Banker Realty - Marblehead
Buyer's Agent
Wilson Brea
eXp Realty
List Price
$270,000
Sold Price
$220,000
Premium/Discount to List
-$50,000
-18.52%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
18.50%
Original Mortgage
$276,000
Interest Rate
4.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 1, 1980
Bought by
Butler Scott N
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Fernandes Andreia R $523,000 None Available
Pena Julio C -- None Available
30 Mason St Realty Llc $220,000 --
Butler Scott N $42,900 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Fernandes Andreia R $513,527
Previous Owner Pena Julio C $287,000
Previous Owner 30 Mason St Realty Llc $276,000
Previous Owner Butler Scott N $85,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/21/2021 09/21/21 Sold $523,000 -1.3% $436 / Sq Ft
07/20/2021 07/20/21 Pending -- -- --
07/06/2021 07/06/21 For Sale $529,999 +140.9% $442 / Sq Ft
06/06/2019 06/06/19 Sold $220,000 -18.5% $183 / Sq Ft View Prior Sale
05/06/2019 05/06/19 Pending -- -- --
04/29/2019 04/29/19 For Sale $270,000 -- $225 / 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 $7,286 $642,500 $185,900 $456,600
2024 $7,008 $603,100 $176,700 $426,400
2023 $6,924 $553,500 $163,100 $390,400
2022 $4,636 $349,900 $157,700 $192,200
2021 $4,646 $336,700 $163,100 $173,600
2020 $4,711 $326,000 $154,000 $172,000
2019 $4,670 $309,300 $146,200 $163,100
2018 $4,371 $284,200 $138,900 $145,300
2017 $4,021 $253,500 $117,200 $136,300
2016 $3,886 $248,000 $111,700 $136,300
2015 $3,766 $229,500 $102,700 $126,800
Source: Public Records

Agents Affiliated with this Home

  • Wilson Brea

    Seller's Agent in 2021

    Wilson Brea

    eXp Realty

    1 in this area

    7 Total Sales

    Wilson Brea
    Section Image
  • Igor Da Silva

    Buyer's Agent in 2021

    Igor Da Silva

    eXp Realty

    (617) 221-8877

    1 in this area

    28 Total Sales

    Igor Da Silva
    Section Image

  • S

    Seller's Agent in 2019

    Shirley Burke

    Coldwell Banker Realty - Marblehead

    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72861084

MLS Property Information Network (MLS PIN)

APN: SALE-000024-000000-000213

Massachusetts Essex County Salem 01970 Castle Hill

7 Cloutman St, Salem, MA

Not Listed for Sale

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