8 - 8 1/2 Herbert Street

Salem, MA
$ 1,650,000 Beds 10 Baths 9 Sq 5,265
Monthly Estimate* How much can I afford?

Rare, 9 unit investment property for sale at a very attractive 7.1% Cap Rate. Located in the historic Derby Street area, minutes from Salem Common, Hawthorne Hotel, numerous shops and restaurants, Peabody Essex Museum, Salem Harbor, Salem Train Station and nearby beaches at Salem Willows Park, Collins Cove, Winter Island and Dead Horse Beach. The 9 units (8 one-bed and one lead compliant two-bed unit) are distributed across a 2 family and a 7 unit building. All leases are TAWs and many tenants have been there for several years. Pro-forma analysis and rent roll are available to qualified buyers. All offers must include pre-approval from lender and proof of funds. First showings to qualified buyers will be by appointment between 1 pm - 3 pm on Saturday June 5 and Sunday June 6. Face masks required.

Contingent

  • Price
  • $ 1,650,000
  • Lot Size
  • 2,614 SqFt
  • Bedrooms
  • 10
  • Sqr Footage
  • 5,265
  • Full Bathrooms
  • 9
  • Year Built
  • 1900
  • Half Bathrooms
  • 0
  • City, Zip
  • Salem
  • Taxes
  • $ 12767
  • County
  • ESSEX
  • Style
  • 5-9 Family
  • Area
  • MLS#
  • 72840948
  • Zip
  • 01970
Listing Provided by: Kathleen Sullivan with RE/MAX 360.
Data Source: MLSPIN

Features

General

Construction Material Frame, Brick
Distance to Beach in Miles 1 to 2 Mile
Electrical Equipment/Features Circuit Breakers, Common, Individually Metered
Energy Features Insulated Windows
Exterior Features Patio, Screens, Fenced Yard, Garden Area
Flooring Wood, Tile
Full Baths 9
Heated Units 2
Lead Paint Certified Treated, Unknown
Levels 5
Parking Features On Street Permit
Roof Asphalt/Fiberglass Shingles
Sewer City/Town Sewer
Square Feet 5265.00
State Massachusetts
Unit 1 Rent 1260
Unit 2 Rent 1200
Unit 3 Rent 1700
Unit 4 Rent 1700
Year End Expenses 12/20

Interior Features

Basement Features Full, Interior Access
Bedrooms (1) 1
Bedrooms (2) 1
Bedrooms (3) 1
Bedrooms (4) 1
Hot Water Natural Gas, Tank
Total Bedrooms 10
Total Number of Units 9

Exterior Features

Exterior Shingles, Brick
Foundation Fieldstone, Granite
House Color Cream/Red
Lot Description Fenced/Enclosed, Level

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$2,869

Per Month

Based on the average sale price from the Methuen, MA office

  • Monthly Principal & interest $1,740
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 3.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

6/2/2021 Listed $1,650,000

Property vs Zip Code Average in 01970

Price
AVG $600K
$1.65M
Taxes
AVG $7,078
$12,767
Visits
AVG 14
2
Year Built
AVG 1896
1900

Map

Areas That We Cover

8 - 8 1/2 Herbert Street Salem, MA is a Single Family Home for sale at $1650000 with 5265 sqft and a lot size of 2,614 SqFt Acre(s). 8 - 8 1/2 Herbert Street Salem has 10 bedrooms, 9 baths and was built in 1900. The property's zip code is 01970 which is in Salem, MA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 3.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.