Active Under Contract

19 Days on market

3 Larch Avenue Salem — Photo 1 of 42

$924,900

Investment Analysis — 3 Larch Avenue

Salem, MA 01970 — Northwoods

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01970 carries an estimated $3,080/mo in gross rent — about a 2.08% cap rate and $19,253/yr in estimated NOI at the $924,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

2,067

Style

Single Family

Built

1960

Located just 1 mile from town and the train this 3 bedroom, 2 bath home feels like you are in another world. It is the perfect location for daily walks in a peaceful and quiet area and yet all the action is a few minutes away, plus easier access to major highways. It is just about the perfect location! Built in 1960 this home offers a unique and flexible floor plan. Large living room with vaulted ceiling, a gas fire place and hard wood floors greet you upon entering. The dining room is adjacent to a lovely screened porch where you can relax in three season. A well appointed kitchen opens to another seating area or even a dining area, offering access to a deck for summer entertaining. There is a 3/4 bath and a laundry room. The second level offers 3 bedrooms and a second bath. The lower level has a finished room for crafts, exercise room and the potential for more finished space. The oversized attached garage will make winter a bit easier. The grounds are stunning with mature plantings. This one has lots of curb appeal but the inside is even better. Make an appointment to see this beauty as you won't be disappointed .

ADU Potential

Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 900 sq ft (the lesser of 900 sq ft or half the 2,067 sq ft principal dwelling). Lot size: 6,499 sq ft.

Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.