81 Summer St Salem, MA 01970
Broad Street NeighborhoodEstimated Value: $874,000 - $928,370
7
Beds
3
Baths
2,690
Sq Ft
$334/Sq Ft
Est. Value
Highlights
- Golf Course Community
- Deck
- Wood Flooring
- Medical Services
- Property is near public transit
- 3-minute walk to High Street Park
About This Home
As of March 2024Opportunity awaits! Whether you're an investor looking to grow your portfolio, or you're looking to purchase your first multi to live in one of the units while generating rental income, this is the best of both worlds. Unit 1 was just completely renovated. Hardwood floors, quartz countertops, shaker cabinets, stainless appliances. Live in unit 1, and collect rent from unit 2. Or rent unit 1 to generate 7K cash flow per month. Located on the corner of Summer and Prescott street within a quarter mile of The Salem Post Office, Steve's Market, The Derby and much more. Enjoy all that downtown Salem has to offer - Don't miss out! Basement has been completely renovated. New electrical in the last 18 months. Brand new Washer/Dryer coin ops. Brand new exterior decks.
Last Agent to Sell the Property
Herrick Lutts Realty Partners Listed on: 02/07/2024
Co-Listed By
Patrick Sargent
Herrick Lutts Realty Partners
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,100
Year Built
- Built in 1914
Lot Details
- 4,974 Sq Ft Lot
- Corner Lot
Parking
- Open Parking
Home Design
- Stone Foundation
- Slate Roof
Interior Spaces
- 2,690 Sq Ft Home
- Property has 1 Level
- Living Room
- Dining Room
- Home Office
- Wood Flooring
- Basement Fills Entire Space Under The House
Kitchen
- Range
- Microwave
- Freezer
- Dishwasher
Bedrooms and Bathrooms
- 7 Bedrooms
- 3 Full Bathrooms
Outdoor Features
- Deck
- Rain Gutters
Location
- Property is near public transit
- Property is near schools
Schools
- Saltonstall Elementary School
- Collins Middle School
- Salem High School
Utilities
- 200+ Amp Service
Listing and Financial Details
- Total Actual Rent $7,000
- Assessor Parcel Number 2132055
Community Details
Overview
- 2 Units
Amenities
- Medical Services
- Shops
Recreation
- Golf Course Community
- Park
Building Details
- Electric Expense $2,700
- Insurance Expense $2,500
- Water Sewer Expense $1,200
- Operating Expense $17,577
- Net Operating Income $67,623
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 7, 2024
Closed on
Mar 15, 2024
Sold by
Summer Salem Llc
Bought by
Avendano Walter and Chavez Hellen
Seller's Agent
Herrick Lutts Realty Partners
Herrick Lutts Realty Partners
Buyer's Agent
Peggy Calle
Century 21 North East
List Price
$879,000
Sold Price
$880,000
Premium/Discount to List
$1,000
0.11%
Total Days on Market
2
Views
35
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
$18,593
Avg. Annual Appreciation
1.69%
Original Mortgage
$769,250
Outstanding Balance
$760,137
Interest Rate
6.63%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$138,456
Purchase Details
Closed on
May 16, 2006
Sold by
81 Summer Street Rt and Sargent
Bought by
Sargent Kathleen M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$225,000
Interest Rate
6.4%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Aug 1, 1982
Bought by
81 Summer St Rt
Similar Homes in Salem, MA
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Avendano Walter | $880,000 | None Available | |
| Sargent Kathleen M | -- | -- | |
| 81 Summer St Rt | $69,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Avendano Walter | $769,250 | |
| Previous Owner | 81 Summer St Rt | $329,100 | |
| Previous Owner | 81 Summer St Rt | $339,500 | |
| Previous Owner | 81 Summer St Rt | $225,000 | |
| Previous Owner | 81 Summer St Rt | $152,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/15/2024 03/15/24 | Sold | $880,000 | +0.1% | $327 / Sq Ft |
| 02/10/2024 02/10/24 | Pending | -- | -- | -- |
| 02/07/2024 02/07/24 | For Sale | $879,000 | -- | $327 / 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 | $8,549 | $753,900 | $190,700 | $563,200 |
| 2024 | $8,104 | $697,400 | $181,200 | $516,200 |
| 2023 | $7,913 | $632,500 | $167,200 | $465,300 |
| 2022 | $7,910 | $597,000 | $161,700 | $435,300 |
| 2021 | $7,491 | $542,800 | $150,500 | $392,300 |
| 2020 | $7,255 | $502,100 | $142,200 | $359,900 |
| 2019 | $7,182 | $475,600 | $134,900 | $340,700 |
| 2018 | $6,698 | $435,500 | $128,200 | $307,300 |
| 2017 | $6,279 | $395,900 | $108,200 | $287,700 |
| 2016 | $6,124 | $390,800 | $103,100 | $287,700 |
| 2015 | $5,778 | $352,100 | $94,800 | $257,300 |
Source: Public Records
Agents Affiliated with this Home
-
Herrick Lutts Realty Partners
H
Seller's Agent in 2024
Herrick Lutts Realty Partners
Herrick Lutts Realty Partners
4 in this area
243 Total Sales
-
P
Seller Co-Listing Agent in 2024
Patrick Sargent
Herrick Lutts Realty Partners
-
Peggy Calle
Buyer's Agent in 2024
Peggy Calle
Century 21 North East
(617) 438-5355
1 in this area
82 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73200448
APN: SALE-000025-000000-000627
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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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