Overview Property Details Payment Calculator Walkability

Pending

11 Summer St, Salem MA 01970

$2,500,000

Estimated $4,807.49/month Calculator

Multi Family

Total Units: 6

Price Per Unit: $416,666.67

Total Rent: 62400/year

Estimated CAP Rate: 2.13%

10 Bedrooms

6 Full Baths

6,744 SqFt

Total Parking: 38 (10 Garage)

13,000 SqFt

Six family home with close to 7,000 sq. ft. of living space, on the biggest lot in downtown Salem, next to the Salem Inn. This property is zoned mixed use, so could have commercial and residential space. Great potential for further development. The house needs to be renovate...

This home has been viewed 75 times

Last Checked: May 7th, 2024 at 12:40am (Source: MLS PIN #73044002)

Gross Income: $62,400

Gross Expenses: $9,045

Net Income Calc: $53,355

CAP Rate: 2.13%

Annual Expenses for 11 Summer St, Salem MA 01970

Total Gross Expenses (Calculated)$9,045/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$9,045

Annual Income & Unit Breakdown for 11 Summer St, Salem MA 01970

Total Gross Income (Calculated)$62,400

Unit 1

Rental Income$1,300

LeaseN

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water), Unit 4(water)

Unit 2

Rental Income$1,300

LeaseN

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water), Unit 4(water)

Unit 3

Rental Income$1,300

LeaseN

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water), Unit 4(water)

Unit 4

Rental Income$1,300

LeaseN

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water), Unit 4(water)

General Information for 11 Summer St, Salem MA 01970

Listing ID73044002

Property TypeMulti Family / 5+ Family

Price$2,500,000 ($370.7/SqFt)

Style5-9 Family

CitySalem

CountyEssex

MLS Area

Neighborhood(s)Ipswich

Approximate Living Area Total6,744 SqFt

Approximate Lot Size (Acres)0.3 acres

Total Parking38 (10 Garage)

Garage Parking10 / Detached

Year Built1870

Year Built SourcePublic Records

Year Renovated

Year Built DetailsApproximate

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsFrame

Lot FeaturesLevel

Foundation Area

Foundation DescriptionIrregular

Accessible Features

Outdoor Space

ZoningB5

Zoning Details

Water Views

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 11 Summer St, Salem MA 01970

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data SourceOwner

Total Gross Expenses By Broker$0

Total Gross Income By Broker$73,200

Total Net Income By Broker$73,200

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation1.5

Facilitator Compensation

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 11 Summer St, Salem MA 01970

Real Estate Taxes$9,045

Tax Year2018

Assessed Value$588,100

Financial Data SourceOwner

Total Gross Expenses By Broker$0

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$73,200

BostonRealEstate.com Gross Income

Total Net Income By Broker$73,200

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)2.13%

Location Information for 11 Summer St, Salem MA 01970

Elementary School

Middle SchoolSalem

High SchoolSalem High

Neighborhood(s)Ipswich

MLS Area

Area AmenitiesWalk/jog Trails, Conservation Area, Highway Access, House Of Worship, Public School, Shopping, Golf, Park, Medical Facility, Laundromat, Bike Path, Public Transportation, T-station, Pool, Tennis Court(s), Stable(s), Marina, Private School, University, Other

Contact Information for 11 Summer St, Salem MA 01970

Agent

Name: Heather Klosowski

MLS ID: CT001890

Office ID: AN2691

National Association ID: 454006239

Address: 245 Center Street

City: Groveland

State: MA

Zip: 01834

Office

Name: Heather Klosowski Real Estate

MLS Office ID: AN2691

Phone: 978-914-2300

Team Members

Payment Calculator

$16,157.95 per month

30 Years Fixed, 6.75% Interest

Property Taxes $753.75

Principal & Interest $15,404.20

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Heather Klosowski Real Estate

Heather Klosowski

Agent Phone

Office Phone

(978) 914-2300

Text Agent Call Agent Call Office

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        )

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[year_built] => 1870
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EXIT

Pending

11 Summer St, Salem MA 01970

$2,500,000

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Financial Information for 11 Summer St, Salem MA 01970

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Heather Klosowski Real Estate

Heather Klosowski