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    Property profile & analytics

    6 Monroe St Salem, MA 01970-3217

    • Residential income homes
    • 5,265 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimation
    $3,050,000
    Last Sale
    Mar 31, 2025
    $3,200,000
    Location Intelligence
    Property ID
    US38-0968597
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 6 Monroe St

    Year built
    1800
    Construction
    FRAME
    Lot size
    0.10 lot acres
    Property size
    5,265 SF
    Zone code
    R2
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    SALE M:26 L:0539
    APU
    SALEM26L0539

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,935,000

    • CAP approach

      CAP return
      Estimation
      6%
      $3,135,000
      6.5%
      $2,955,000
      7%
      $3,040,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $3,240,000
      Geo Method
      $3,505,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $3,495,000
      Retail
      $3,430,000
      Mixed-Use
      $3,550,000
      Hospitality
      $3,695,000
      Educational
      $3,510,000
      Residential Income
      $3,195,000
      Energy
      $3,465,000
      Income-Based Land
      $3,495,000
      Food Service
      $2,810,000

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9027
    Latitude
    42.5207
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $11,400
    $230,500
    $750,600
    $981,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,360,000
      4,368 SF

      2 Howard St

      BOARDING/ROOMING HOUSE • 4,368 SF
      2 Howard St, Salem, MA 01970-6530
      View Details
    • Value Estimation by Request
      3,902 SF

      128 Brg St

      BOARDING/ROOMING HOUSE • 3,902 SF
      128 Brg St, Salem, MA 01970-3986
      View Details
    • Value Estimation by Request
      3,721 SF

      87 Congress St

      BOARDING/ROOMING HOUSE • 3,721 SF
      87 Congress St, Salem, MA 01970-5509
      View Details
    • Value Estimation by Request
      5,110 SF

      10 Howard St

      BOARDING/ROOMING HOUSE • 5,110 SF
      10 Howard St, Salem, MA 01970-3813
      View Details
    • Value Estimation by Request
      5,949 SF

      313 Essex St

      BOARDING/ROOMING HOUSE • 5,949 SF
      313 Essex St, Salem, MA 01970-3271
      View Details
    • Value Estimation
      $2,005,000
      4,695 SF

      286 Washington St

      BOARDING/ROOMING HOUSE • 4,695 SF
      286 Washington St, Salem, MA 01970-3640
      View Details

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    Similar Nearby for Lease

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      Freestanding Commercial Space, High Traffic
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      Attractive 2,363 sqft office suite in downtown Salem available now.
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    • Contact for pricing

      Retail Space on Route 107

      Retail space available now at a busy intersection.
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      View Details
    • $2,200 /Mo

      Luxury Salon Space in Salem

      Fully furnished salon space with photography set available for rent.
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    • $18 SF/Yr
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      Visible Commercial Space on Highland

      Highly visible 9,831 sq ft commercial space on Highland Ave.
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    • $18 SF/Yr

      Waterfront Business Center Office Space

      Premier waterfront business center with ocean views near historic district.
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      View Details
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    6 Monroe St
    Salem, MA 01970-3217
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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