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!
Sold for $825,000
$825,000
322 Broadway, Methuen, MA 01844
6beds
2,762sqft
5-9 Family
Built in 1860
-- sqft lot
$-- Zestimate®
$299/sqft
$5,474 Estimated rent
Home value
Not available
Estimated sales range
Not available
$5,474/mo
Zestimate® history
Owner options
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$5,474/mo
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$5,103/mo
Est. payment
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$5,103/mo
Est. payment
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Generous lotUpgrading unit interiors
Zillow last checked:
Listing updated:
Listed by:
Jolmi Minaya 617-412-5498,
Tower Hill Ventures LLC 617-412-5498,
Jolmi Minaya 617-412-5498
Bought with:
Jolmi Minaya
Tower Hill Ventures LLC
Source: MLS PIN,MLS#: 73289422
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 6
- Full bathrooms: 5
- 1/2 bathrooms: 1
Heating
- Baseboard, Natural Gas
Cooling
- Window Unit(s)
Appliances
- Included: Range, Refrigerator, Range Hood
Features
- Other, Studio, Crown Molding, Ceiling Fan(s), Heated Attic, Living Room, Kitchen
- Flooring: Vinyl, Carpet, Hardwood, Tile
- Basement: Full,Walk-Out Access,Interior Entry,Concrete,Unfinished
- Number of fireplaces: 1
Interior area
- Total structure area: 2,762
- Total interior livable area: 2,762 sqft
Property
Parking
- Total spaces: 13
- Parking features: Paved Drive, Off Street, Paved
- Garage spaces: 1
- Uncovered spaces: 12
Features
- Patio & porch: Deck
Lot
- Size: 9,060 sqft
Details
- Parcel number: M:00612 B:00122 L:00009,2040582
- Zoning: CBD
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 5-9 Family
Materials
- Frame, Stone
- Foundation: Stone
- Roof: Shingle
Condition
- Year built: 1860
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: for Gas Range
Community & neighborhood
Community
- Community features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Highway Access, Private School, Public School
Location
- Region: Methuen
HOA & financial
Other financial information
- Total actual rent: 7075
Other
Other facts
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 1/23/2025 | Sold | $825,000$299/sqft |
Source: MLS PIN #73289422 Report a problem | ||
| 12/4/2024 | Contingent | $825,000$299/sqft |
Source: MLS PIN #73289422 Report a problem | ||
| 10/2/2024 | Price change | $825,000-2.9%$299/sqft |
Source: MLS PIN #73289422 Report a problem | ||
| 9/12/2024 | Listed for sale | $850,000+109.9%$308/sqft |
Source: MLS PIN #73289422 Report a problem | ||
| 12/3/2004 | Sold | $405,000+153.1%$147/sqft |
Source: Public Record Report a problem | ||
| 1/15/1999 | Sold | $160,000$58/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,131 +2.8% | $674,000 +5.5% |
| 2024 | $6,940 +2.4% | $639,000 +10.3% |
| 2023 | $6,779 | $579,400 |
| 2022 | $6,779 +0.6% | $579,400 +13.4% |
| 2021 | $6,740 -0.1% | $511,000 +1.8% |
| 2020 | $6,750 +2.8% | $502,200 +8.5% |
| 2019 | $6,569 +3.6% | $462,900 +4.2% |
| 2018 | $6,342 +1.1% | $444,400 +3.8% |
| 2017 | $6,273 +8.1% | $428,200 +9.3% |
| 2016 | $5,803 | $391,800 +5.6% |
| 2015 | -- | $371,000 |
Find assessor info on the county website
Neighborhood: 01844
Nearby schools
GreatSchools rating
- 4/10Tenney Grammar SchoolGrades: K-8Distance: 0.6 mi
- 3/10Methuen High SchoolGrades: 9-12Distance: 0.9 mi
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- Massachusetts
- Essex County
- Methuen
- 01844
- 322 Broadway
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