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Property profile & analytics
OFF-MARKET
Estimated value
$38,180,000
Residential income homes
224 Salem St Swampscott, MA 01907-1396
Entity Owned
4-yr Hold
Free & Clear
Property ID
US38-0766799
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
2016
Construction
STEEL FRAME
Total area
80,069 SF
Lot
3.13 ac (136,517 SF)
Zoning code
A-2
APN
SWAM M:0017 B:0023 L:0
UPID
US38-0766799
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Residence at Vinnin Square Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$38.49M
Blend (final)
Blend
$38.18M
Owner & transaction history
Pr Swampscott Propco LLC · 4 yrs held
Pr Swampscott Propco LLC
since 2022
Last sale
$36.6M
3 recorded transactions
Zoning & alternative use
A-2 · Swampscott, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$27.6M
+8.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Swampscott submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Swampscott submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$40,975,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$25,600,000
Current use
RESTAURANT
$27,635,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$38.18M
Range $34.36M – $42.00M · ±10% · vs last sale $36.63M (Feb 7 2022)
Last sale anchor
$36.63M
Feb 7 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$477 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$351,392
Tax year 2024
Assessed value
$30,582,400
Assessed 2024
Previous assessed
$30,582,400
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$6,720,000
Assessed improvement
$23,862,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
2016
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
84
Rooms
336
Bathrooms
94
Total area
80,069 SF
Lot
3.13 ac (136,517 SF)
Zoning code
A-2
APN
SWAM M:0017 B:0023 L:0
UPID
US38-0766799
Jurisdiction
SWAMPSCOTT
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
A-2 · Swampscott, MA
Zoning A-2 · permitted uses
A-2 · Swampscott, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Swampscott. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$25.6M
RESTAURANT
Est. value
$27.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2016
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
84
Rooms
336
Bathrooms
94
Lot
3.13 ac
Current owner
From public records · entity-resolved
Pr Swampscott Propco LLC
Entity
Free & Clear · 4 yrs held
Mailing address
3348 PEACHTREE RD NE, ATLANTA, GA 30326-1067
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2022
$36,630,592
Pr Swampscott Propco LLC
Lcb Vinnin Square LLC
Quit Claim Arm's Length For Ne States
—
Nov 3, 2015
$4,050,000
Lcb Vinnin Square LLC
Harold J Keating JR
Quit Claim Arm's Length For Ne States
—
Apr 6, 1992
—
Harold Keating JR.
—
Deed Of Trust
related
$95,000 · Mortgage Master INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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