2 months on rocket

322 Broadway, Methuen, MA, 01844

$825,000

Home List Price

$9,797*

Closing Credit

6 Bedrooms
5 Full Baths, 1 Partial
2,762 SqFt
$299/SqFt
Multi

Location

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322 Broadway, Methuen$825,000

Buyer Closing Credits

$9,797*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingPaved Drive, Off Street, Paved
Garage1 space
Year Built1860
HeatingBaseboard, Natural Gas
CoolingWindow Unit(s)
BasementYes
MLS #73289422
Lot Size0.21 Acres
StatusActive

About 322 Broadway

Discover the potential of 322 Broadway, a well-located multi-family building featuring 5 units on the edge of Methuen's Historic Downtown. This prime property is just under a mile from tax-free Salem, NH, and minutes away from the vibrant Tuscan Village development. With a 7% Cap Rate and rental upside, this property presents a lucrative opportunity for investors. Current leases are below market rates, offering significant room for rental increases by upgrading unit interiors (1 unit will require TLC). Situated in a Qualified Opportunity Zone, this property is ideally positioned in a high-demand, supply-constrained residential market. Generous lot with ample space for potential future enhancements or expansions. This property offers an excellent opportunity to capitalize on a growing area with the potential to enhance value through strategic upgrades. Don’t miss out on this investment in a thriving community!

Property Details

Property Features

Property Information:

  • Year Built: 1860
  • Living Area: 2,762 SqFt

Listing Office:

  • Office Name: Tower Hill Ventures LLC
  • Office Phone: (617) 412-5498
  • Listing Agent: Jolmi Minaya

Interior Features

Interior Information:

  • Appliances: Range, Refrigerator, Range Hood
  • Basement: Yes
  • Flooring Type: Vinyl, Carpet, Hardwood, Tile
  • Interior: Other, Studio, Crown Molding, Ceiling Fan(s), Heated Attic, Living Room, Kitchen

Bedroom and Bathroom Information:

  • Partial Bathrooms: 1
  • Full Bathrooms: 5
  • Total Bedroom Count: 6

Exterior Features

Parking Information:

  • Garage Space: 1 space
  • Parking: Paved Drive, Off Street, Paved

Lot Features

Lot Information:

  • Lot Size: 0.21 Acres

Utilities

Utilities Information:

  • Heating: Baseboard, Natural Gas
  • Cooling: Window Unit(s)

Other

Directions Information:

  • Directions: Use GPS

Price Information

Listing Price Info

Price Summary:

  • List Price: $825,000
  • Price Per SqFt: $299/SqFt

Tax Information:

  • Annual Amount: $6,740
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Methuen, MA.

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Methuen, MA

City

Med. Sold Price

$571.5K

Med. Price/SqFt

$318

Avg. Days On Market

24

# of Sold Homes

38

322 Broadway vs Methuen

65 DAYS ON ROCKET

+41 Days

$825,000

+$253.5K More

$299/SqFt

-$19 Less

KEY TAKEAWAY

This property is $253.5K more than the Median Sold Price and $19/SqFt less than other homes in Methuen, MA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MLS Property Information Network
  • MLS Number: #73289422

Listing Office:

  • Office Name: Tower Hill Ventures LLC
  • Office Phone: (617) 412-5498
  • Listing Agent: Jolmi Minaya

IDX Disclaimer: The property listing data and information 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 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 set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 10:20:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Dec 03, 2004Home Sold
$405,000
Jan 15, 1999Home Sold
$160,000

Tax History

YEARPROP. TAXASSESSMENT
2021$6,740$511,000
2020$6,750$502,200
2019$6,569$462,900
2018$6,342$444,400
2017$6,273$428,200

History based on county public records data.

Payment Calculator

$4,185

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,540

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-387029
2
/10

  • Community Day Arlington Elementary School

  • 150 Arlington St

  • 1.17 miles

  • Public District Grades KG-4

school-card-donut-387030
4
/10

  • Tarbox Elementary School

  • 59 Alder St

  • 1.32 miles

  • Public District Grades 1-5

school-card-donut-387031
2
/10

  • Leahy Elementary School

  • 100 Erving Ave

  • 1.78 miles

  • Public District Grades 1-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $46,438. The majority of Methuen, MA residents have income between $35k-100k annually. Most families are single, no kids. The majority of residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Living In Methuen, MA

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

What type of housing is available in Methuen, MA?

The housing landscape in Methuen is characterized by a blend of single-family homes, apartments, and townhouses, with single-family homes being the most prevalent. The architectural styles in the area range from classic colonial to contemporary, reflecting the town's historical roots and modern growth. The majority of homes were built during a development surge in the late 20th century, with a homeownership rate that is reflective of a community invested in long-term residency.

Is Methuen, MA a good place to live?

Methuen prides itself on a rich historical heritage and a strong sense of community. The town's character is shaped by its well-preserved historical sites and the annual Methuen Festival of Trees, which showcases the community's engagement and festive spirit. The area is celebrated for its balance of suburban tranquility and active community life, offering residents a peaceful yet connected lifestyle.

Are things conveniently located in Methuen, MA?

Residents of Methuen have access to a range of essential services. The town's educational system includes several public schools at the elementary, middle, and high school levels, as well as private educational options. Healthcare needs are served by local clinics and nearby hospitals that offer a variety of medical services. The public library system supports lifelong learning and community engagement. Retail and dining options are abundant, reflecting the local culture and providing residents with a variety of choices.

What does the transportation in Methuen, MA look like?

Methuen's transport infrastructure supports both private and public transit options, with a network of roads that connect to major highways, facilitating travel and commuting. Public transportation services are available, providing residents with alternatives to private vehicle use. The town also features areas that are pedestrian-friendly, encouraging walking and biking as viable modes of transportation. Recent efforts have been made to enhance the efficiency and accessibility of the transport system to accommodate the needs of the community.

Rocket Homes›Massachusetts›Essex County›Methuen›01844›322 Broadway

This home is located at 322 Broadway in Methuen, MA and zip code 01844. This 2,762 square foot home, which was built in 1860, sits on a 0.21 acre lot. Features: 6 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since September 12, 2024 and is currently priced at $825,000.

Methuen, MA housing market in October 2024 saw over 26 listings sold above listed price, more than 2 sold at listed price and over 10 sold below. Between September 2024 and October 2024, Methuen, MA real estate market has seen increase in the number of listings by 1.5%. In October 2024 median list price was $571,500 and the average listing age was 24 days.

From Rocket Homes Real Estate and based on county public records data.

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