$1,100,039
SOLD SEP 20, 2021
10 Beds
4 Baths
5,433 Sq Ft
6,098 Sq Ft Lot

Recently Sold

$202 Per Sq Ft

12% Above List Price

12 Days on Market

About This Home

As of January 2025

7 Hancock Street is a 4-unit multifamily located in Salem, Massachusetts. 7 Hancock Street provides investors with a value-add opportunity in a rapidly appreciating submarket. Salem, one of the North Shores most vibrant towns, is known for its museums and attractions dedicated to the city’s rich history which draws hundreds of thousands of tourists annually. 7 Hancock Street is conveniently situated between Salem State University and down-town Salem, providing a healthy renter population of both students and professionals. The neighborhood commuters enjoy the benefit of being in close proximity to Rte 1, I-95, and Salem’s MBTA Station, which provides residents quick and easy access to down-town Boston.

Last Agent to Sell the Property

Ryan McDonald

Boston Realty Advisors Listed on: 08/06/2021

Last Buyer's Agent

Joshua Green

Keller Williams Realty Evolution

Keller Williams Realty Evolution

Property Details

Home Type

  • Multi-Family

Year Built

  • 1917

Interior Spaces

  • Property has 2 Levels

Property Details

Home Type

Multi-Family

Year Built

1917

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Gross/Full Sale Price
  • APOD AVAILABLE: No
  • Directions: Lafayette to Hancock Street via 1A
  • Garage Yn: No
  • Year Built Details: Actual
  • Special Features: None
  • Year Built: 1917

Interior Features

  • Total Bathrooms: 4
  • MAIN LO: NB9260
  • LIST PRICE PER Sq Ft: 180.38
  • PRICE PER Sq Ft: 202.47
  • MAIN SO: AN6527
  • Full Bathrooms: 4
  • Total Bedrooms: 10
  • Fireplace: No
  • Flooring: Other
  • Stories: 8

Exterior Features

  • Foundation Details: Granite
  • Lot Features: Other
  • Waterfront: No

Garage/Parking

  • Total Parking Spaces: 3

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Lot Info

  • LOT SIZE: 6120
  • PAGE: 264
  • Farm Land Area Units: Square Feet
  • Lot Size Sq Ft: 6098.4
  • Zoning: R2

Multi Family

  • LEVELS 1: 2
  • LEVELS 4: 2
  • LEVELS 2: 2
  • LEVELS 3: 2
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 1
  • FLRS 4: 2
  • FLRS 3: 2
  • FLRS 2: 1
  • Annual Gross Income: 62000
  • Property Net Operating Income: 41508
  • Number Of Units Total: 4
  • Annual Operating Expense: 19692
  • Total Actual Rent: 5100

Tax Info

  • Tax Annual Amount: 8489.76
  • Tax Book Number: 13086
  • Tax Year: 2021

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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

Property History

Date Event Price Change Sq Ft Price
01/16/2025 01/16/25 Sold $1,505,000 +0.3% $271 / Sq Ft
11/27/2024 11/27/24 Pending -- -- --
11/05/2024 11/05/24 For Sale $1,499,900 +36.3% $270 / Sq Ft
09/20/2021 09/20/21 Sold $1,100,039 +12.2% $202 / Sq Ft
08/17/2021 08/17/21 Pending -- -- --
08/05/2021 08/05/21 For Sale $980,000 -- $180 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72877610

MLS Property Information Network (MLS PIN)