16-18 Loring Ave, Salem MA 01970
Salem, MA 01970 • South Salem
$1,740,000
Est. $9,261/month
About this home
Prominent Victorian home with total of 5 units and recent approval for 6th, along with 6 large concrete garages located in the rear of property on Charles Street. This home has been in the same family for over 60 years, has been well maintained, with long term tenants and empty owners unit with plans to split into 2 units. Great detail inside and out, this property boast high ceilings, hardwood floors, detailed fireplace rooms as well as the added income from the 6, 12 x 35' garages underneath the yard in the rear of the property.
Sale Statistics
Sale Overview
Original List Price:
$1,959,000
Final Sale Price:
$1,740,000
Difference:
$219,000 (-11.2%)
Performance Metrics
88.8%
List to Sale Ratio
Sold below asking price
68
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft:
$327
Sale $/sq ft:
$290
This property sold for $290 per square foot
Sale Summary
This property sold for 11.2% below the original asking price.
The property spent 68 days on market before selling.
Facts & Features
Property Overview
Property Type
5+ Family - 5+ Units Side by Side
Property Category
Residential Income
Year Built
1895
Bedrooms
9
Full Bathrooms
5
Half Bathrooms
2
Living Area
5,998 sq ft
Total Rooms
25
Stories
6
Levels
6
Interior Features
Flooring
Wood, Tile, Vinyl, Carpet
Has Fireplace
Yes
Number of Fireplaces
4
Basement Details
Full
Window Features
Insulated Windows, Storm Window(s)
Door Features
Storm Door(s)
Exterior & Structure
Construction Materials
Frame
Roof
Shingle
Foundation
Stone, Granite
Patio/Porch Features
Porch
Has Spa
No
Waterfront Property
No
Lot & Land
Lot Size
0.41 acres
Lot Size
17,986 sq ft
Lot Size Area
0.4100
Lot Features
Level
Road Frontage Type
Public
Parking & Garage
Garage Spaces
6
Has Garage
Yes
Total Non-Garage Parking Spaces
7
Parking Features
Off Street
Covered Parking Spaces
6
Utilities & Systems
Utilities Available
Varies per Unit
Water Source
Public
Sewer
Public Sewer
Community & HOA
Community Features
Public Transportation, T-Station
Senior Community
No
Financial & Tax Information
Annual Tax Amount
$22,804
Tax Year
2025
Tax Assessed Value
$2,010,900
Parcel Number
M:32 L:0088
Zoning
R2
Additional Details
Year Built Source
Public Records
Year Built Details
Approximate
Disclosures
Broker has ownership interest in this property.
Location
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Neighborhood
South Salem
16-18 Loring Ave, Salem MA 01970
Salem, MA 01970
Walkability
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Schools
School information not available
Monthly Payment Calculator
%
%
Estimated Monthly Payment
$0
Payment Breakdown
Principal & Interest
$0
Property Tax
$1,900
Homeowners Insurance
$200
PMI
$0
Property History
Market Insights
11.2%
Price Range
69
Total Days on Market
Property Timeline
Sold
Jun 13, 2025
$1,740,000
Property sold
Days on Market: 69
Listed for Sale
Feb 25, 2025
$1,959,000
Original listing
Agent: Matthew Power
Office: 1 Percent Realty, LLC
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 06/13/2025 | ✓ Sold | $1,740,000 | - | - | Property sold |
| 02/25/2025 | 🏠 Listed for Sale | $1,959,000 | - | - | Original listing |