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38 SALEM STREET/ MAP NO. LOT NO. PROPERTY RECORD -CITY OF SALEM (WARD 41 PRECINCT) CARD NO. � MEMORANDA -11 PHOTO (7[/e it h /21/0/2y t4( 034 0254 38 SALEM STREET RECORD OF OWNERSHIP NUMBER DATE BOOK PAGE U�j � v1 >~ W LEVY LEONARD 05945 21 OBER ST 0640 BEVERLY MASS 73 AC. S.F. 13400 VALUE 2100 HOU5 24000 V. VERIFICATION OF INSPECTION a R (�oF (/// d/c W- 3ASSESSMENT RECORD 1975 19 19 19 19 19 19 19 19 19 APPEAL DATA DWELLING GARAGE Granted Appeal Denied SWIM POOL Value Land APARTMENTS Change Building CONDO 9Y/L , .�;,. COMM OR IND TOTAL VALUE BUILDINGS TOTAL VALUE LAND TOTAL VALUE LAND &BUILDINGS CONSTRUCTION Size Area Class Age Remod. Cond. Repl. Value Phys. Func.Dep. Phys. Value Dep. Sound Value 11 14 15 18 19 22 23 25 26 29 30 31 32 37 38 39 40 45 46 47 48 53 PHOTOGRAPH I PERMIT COMP. DATE Total LAND VALUE COMPUTATIONS Square Unit Unit Square Ft. Corner Total Depr.% Value 3 Footage 6 7 10 11 Price 14 15 % 17 18 Price 23 24 25 26 32 33 34 35 41 / _ RENTAL EXPENSE ITEMS PROPERTY INFORMATION VACANCY LAND COST HEATING BLDG.COST J WATER SALE PRICE ELECTRICITY GROSS ANNUAL INCOME ,3'.. := 1 , JANITOR LESS EXPENSES I _ MANAGEMENT NET INCOME LAND @ %= 42-52 LAND RECORD Total Value Land BLDG. @ %= Sewer No Street E High I Water BI Dirt Street F Low j Total Value Buildings L TOTAL FLAT EXPENSES TOTAL Gas / Paved �' Level / Total Value Land and Buildings Elec. 0 No Sidewalk H II (� Q� 7 BUILDING RECORD T JWHIPPLE,MAGANE AND DARCY CONTROL No. MEASURED BY I IDATE 4 ���� LISTED BY I�I / I DATE j f� / Yvvw' Ill el I `r 75 80 SEMI MOD KIT �} h 1 ��� n,fr ![`/�O r. BLOCK r LOT ' MOD BATH V 7 EXEMPT BLOCK LOT`_� / CLASS SEMI MOD BATH f(� �sF/ee✓ I5e r�js �^,. S 1 1 I I I®nI° iy W I iota IZIJI� I I I • I I TSTORE FRONT on/� 6 -�� Ill COMPUTATIONS 6 7 11 12 16 17 20 FIRE PROOF CONST Y G1� NO. AREA • UNIT TOTAL FERIA NABEIRRI DAT BUILT, SHEET OF MILL CONST _ „J^41F/ovr RC/17-t> 5 1y.D3 , ITEM QTY. COST �� � /I L_J �J REINF CONC BEAMS&COLS J 1.� �� �J� _Al /7 21 26 2 32 34 STEEL FRAME 3'P/M•., "� ' V`"' ff P �'� �ZZS S/ o?6 7 J�v EXTERIOR WALL VARIATIONS STEEL BEAMS&COLS / pp�' DESIGN STEEL TRUSSES 3rd Floor /]e,i S V RANCH 1. Common Brick V/F 5. Face Brick V/M STEEL OR BAR JOIST .312/J ii 41-7P 011�� 1I G '��L 2. Face Brick V/F 6. Cut Stone V/M TIMBER BEAMS&COLS ,✓ / ✓. % I J SPLIT LEVEL or BY LEVEL 3. ADDITIONS OR DEDUCTIONS 3. Cut Stone V/F 7. Perna Stone WOOD TRUSSES Kyle Poor 0f�e4�-s — Si?P�/� k d� COLONIAL 4. Common Brick V/M SPRINKLER SYS ylh - Red` I,' I t3 R t O (/4 h..S ,�`',w CAPE COD PASS ELEV TYPE STORIES LINEAL FEET CONDO I I FREIGHT ELEV 3•r -- tot.. y' 3 , t km CONVENTIONAL 35 3637 38 0 �7, Y - 344 17, SWc t ,�L•w 19 W A� ��al MODERN FINISHED ATTIC OR SECOND FLOOR FLOORS 5 n /��"'b t y' I '� /jQ RAISED RANCH B 1 2 3 ' )S ` .2-11/ 9' S/ '/a i L n, SINGLE FAMILY Cement 7' "j..tr — r,E. 1' FAM. FLAT Hardwood / /` / 1 .3 e 1 PieFin Area 43 I I I I 46 Tv.. FAM. DUPLEX Fin.Attic% 47 I 1 I 150 Single Fl. FAM. CONV. Unfinished Y,Story% 51 L _ I I _1 53 Asph.Tile COMM. DORMERS APARTMENTS / Wood Joist 7 APART No.of Fam. (50) I),p � II NUMBER SIZE II NUMBER SIZE Reinf.Conc. TOTAL INDUSTRIAL 5456 58 6 t '59 L0�61J SCb1e// FOUNDATION ,. g CONCRETE BASEMENT AREA Q �i� vJ t/�`�, -Pa r ':,- CEMENT BLOCK Rec.Room%I • I ILI I I W I I I SALE 27$ I I/Iy0014I4;133 OVERALL DIMENSIONS BASEMENT BRICK 62 63 64 65 66 67 68 STORIES WIDTH LENGTH AREA FULL- DATE 36 I/I9I7 L3I39 STONE / No Concrete Floor 0 69 ■p I I I I I I I ■ I I 41 42 43 44 45 46 49 50 52 TOTAL -27/4,V CAP IMPROV $II I I II I 159 L _ J I I I I I I 1 ■ I I COST CONVERSION ROOFING /?� I1 / Wll 0 2 Pls 1 DATE 62I 1 I 1 165 2 3 4 5 6 7 8 11 12 14 ASPHALT,ASBESTOS Air Cond. 04 Percent I ■ I IREPLACEMENT I 1 32 WOOD SHINGLES 5 6 7 % / 27u 29 30 3W 33 I I I36 1 37 I 39 VALUE 3,,,?''p /928BATH ROOMS G Z 0 4 SLATE PHYSICAL DEP.FIXTURES NO. FLOOR WA NS BOTH I L—J I I I -;;-,;) TAR &GRAVEL / IV I I/ I 1 3 40 41 42 43 44 45 46 49 50 52 VALUE / 9SZ6Gi COMPOSITION 8 g 10) PATIOS FUNCTIONAL OR `( BUILT IN PORCH Type Width Length Area ECON. OBS, yO SHED DORMER LF U 1 2 3 TYPE STORIES LLJ IIII I WIDTHI W I. 1 LENGTH I AREA I PICTURE DORMER LF 11 12 (13) E 0 G (53) I I 1 CEMENT U I I I—II 12 3 4 5 6 7 18 19 I EXTERIOR WALL TYPE U U 1 2 3 54 55 56 57 58 59 60 61 62 A. FRAME WITH WOOD, 14 15 (16) 30THER U IUD I I I I I ASBESTOS,STUCCO, r FIREPLACES WIDTH LENGTH AREA 10 11 12 13 14 15 16 17 SUMMARY OF APPRAISED VALUE ALUM,SIDING (19) I 1 ON 1 U 2ON 1 U BUILT IN GARAGE I I I I I I I I I 1 BAY WINDOWS NO.I I I STORIES L 1 18 19 20 21 22 24 25-26 27-28— PRINCIPAL BLDG. MISCELLANEOUS ADDS OR DEDUCTS APPRAISAL $ //, /0 p B. CONCRETE BLOCK BSMT (No.of Cars) 1 0 2 0 3 0 25 PORCHES ON TILE-STUCCO ON r— CODE DOLLAR AMOUNT OTHER PRINCIPAL HEATING 26 ROOMS B 1 2 3 TYPE STORIES WIDTH LENGTH� I ' AREA BLDGS.APPRAISAL $ BLOCK OR TILE (19) �/ E 0 G (33) III L_1_ I LJ III I 43 I I I 145 4611 I I I49 0 0NONE Living YLj 1ACCESSORY BLDGS. C. BRICK OR STONE 1 OFORCEDHOTAIR Dining + I 35 36 37 I 39I 40 42 60 I I j62 63 I I I I66 APPRAISAL $ VENEER (19) � E 0 G (50) I I I Lai 1 I I I I I I 1I 2 ❑STEAM 1 PIPE Bed /a 17' I2,II, 51 52 53 54 55 56 57 59 TOTAL BLDG. D.SOLID BRICK OR Kitchen J fr,/ / E O G (2) III I I IL I I I I I 121 I 1 114 151 I I I 118 APPRAISAL $ // 7 /U STONE (19) 3 OFLOOR OR WALL 7 r 3 4 5 6 7 8 9 11 TOTAL LAND Rec. Rm. Finish II�� _ 4 OCeilingRadiantElec. Width ATTACHED GARAGE Over Physical Depr. 19I ,O 120 APPRAISAL OTHER 5 ❑BaseboardElectric Apts. 23 I I 124 251 I 126 271 I I 129 1130 Economic Obs. 211 I I22 $ 2S C) Office TOTAL APPRAISED $ / 6 ❑FloorRadiantElec. ��� 7 OFloor Radiant Hot Stores Other Accessory Bldgs 3I I I I I I VALUE Water 8 Q Gravity-Pipeless 9 12S Steam 2 Pipe Total Land Value 421 01 L'13 I ? I 'Si CIO 148 r Rents ACT1 'AL PROJECTED Apt. :game Aonthly Income Apt. Con,I. "4k Mo. Yearly Yearly 1 James Dennis eemoAeled 43.00 1 .955.00 2.232.00 2 Maureen Gill ADC 300.00 Nee:=s sork 176.50 2 .076.00 2.118.00 Azad 4arisosian unemployed emodeled 43.00 1838.00 2.232.00 e Lois .Fuller AOC Needs •ork 154.00 1 .846.00 1 .848.00 5 eilfred -it-ert 'art time Care. Needs :pork. 34.00 1 .606.00 1.764.00 6 Theresa Carpenter ADC 360.00 mo. Needs :,ork 152.00 1 . 824.00 1 .824.00 7 Virgina Melendaz Fereral Aid Remodeled 170.00 1 .700.00 2.040.00 8 Cathy L' Italian remodeled 165.00 19976.00 1 .980.00 9 .1ma Center 'emodeled 43.00 1 . 978.00 2.232.00 10 'anto Calai.ro emodeled 40.00 2.080.00 2.076.00 11 Ann qcCormack ADC 414.00 mo. seeds ork 172 .00 2.064.00 2.064.00 12 Imela Allain emodeled 41 .00 2.132.00 2.136.00 1? Steven Carpenter Needs Work 160.00 1 .600.00 1 .920.00 14 Susan :•sieves Federal Aid Needs Work 170.00 2.040.00 2.040.00 15 Mary -;chrader ADC Needs Work 165.00 1 .980.00 1 .980.00 16 Jack , achtel Needs work 26.00 1 .872.00 1 .872.00 TOTAL; 30.569.00 fp 32. 358.00 T forout D C allows `� 25.00 per e.Ae�. rent. The difference has to come of food money, etc. urgently needed repairs for 1t75 .eplaster and repaint front halls , 800.00 r-:epoint tricks and replace cracked 1-rice in exterior 1 .400.00 • brick wall. ;:eplaster apartment walls ehich have teen damaged by water 600.00 leaks in exterior Lric'e wall 6 rooms ) AGeneral e pairs -- As tenants move out 10 Apartments -- _ - 10.000.00 ( ,paint-- paper- floors--cabinets- bathroom ) oof is 1 -2D years old. have teen doing patch work tut was informed that complete roof will have to 3-e replaced within 3 years. 3 c a ) _ 7., - - 1 �- � �} . 1974 1075 l resent owners expense Actual xpenses : ro jected Expenses First Mortgage 20 year-3 ILF 9.012.48 9.012.48 second Mortgage 10 years I&! 2.685.96 2 .685.06 Third Mortgage 5 years i&; "^ .24`t.60 Fuel - Dec 1 i11 "'6.^ per gal. 20 .000 galsx"6 .9= 4 7. -80.t00 4.576.04 7 . '80.00 Electricity 119.8 oater 568.08 568.98 Insurance 1 .280.0U 1 .280.00 Misc. 177.48 177.48 _�.ent collection £ cleaning 2.080.00 2.080.0O epairs ?.075. 12 ? .035.32 1975- Immediate nee1 reairs r:eplaster <, repaint front halls >epoint and replace cracked '.ricks in exterior ?:rick :all street si. -;e repla: ter 6 rooms, walls are crumpling due to water coming through cracks in exterior brick wall. Normal plum&ing-electrical-heating repairs- broken windows, etc. Tax 1974 ` 967 20 XXXXIMES Tax 1075- if tax rate is 50 .00 on assestment of 150.000 TOTAL E F A 3 S 1 T 1 .826.^5 $ 38.201.71 1074 Income '`0.569.uO 10.569.0t CASH LLi_S LOSS 4_. 1 .257.95 LOSS 7.634.71 Less for 16 a;7artm: nts ____.____ 7.674.71 Loss per apartment - yearly 477 . 17 .oss per apartment weekly . 1 What amount should le allowed for a fair profit EQUITY- first '•;ortgage 4, 1 .489.04 Second Mortgage '50.24 Third i ortgage 2.01C .00 Deal :quity $ 3.864.88 Proposal for new buyer Purchase or sale price $ 147.000.00 $ 100.000.00 - 10 Down aynent 15.000.00 10.000.00 Valance to a financed 112.000.00 90.000.00 First Mortgage- 70% of sale price 102.000.00 70.000.00 Second Mortgage 30.000.00 20.000.00 Yearly Lxpenses First mortgage- 20yrs at 10% I&a 984. 74 no. 11.F12.08 S .106.24 Second Mortgage 10yrs at 10 h' IJ.- 396.46 mo. 4.757.52 1 .171 .72 Tax- if valuation is 150.000.00 - 50.00 rate 7.500.00 - ------- Tax- if valuation is 100.000.00-- 50 .00 rats- ___-____ 5.000.00 Fuel 20.000.00 gals at 36.9 7.38J.00 7.380.00 Water 568.08 568.98 Major remo-'et i nq? repairs see note\ age 1 1.075. 12 3.035.7-2 Insurance 1 .280.00 1 .280.00 ent collection cleaning 5" of income 1 .500.00 1 .500.00 Yr;A.KLY eXt=F.NSE3 37.8 .90 10.042.26 If buyer invested his down payment in a bank savings account, he would mate at least 6% 900.0U 600 .00 interest on his investment Take into consideration- vacancies-non payment of rents increase in insurance- normal 2.624.10 2. 315.74 electrical and pluming repairs- window , reakaue legal and accounting expenses rlus a fair profit 41.358.00 4 12.g58.00 Yearly income-- if no vacancies any: no loss of rents 32. 358.00 32. 7.58.00 Cash loss $ -9.000.00 Equity First Mortgage ( 17 .00 per 1 .000.00 ) 1 .734.00 1 .190.00 Second Mortgage( 61 .00 per 1 .000.00 ) 1 .8 30.00 1 .220.00 Total £giity 1..564.00 2.410.00 LOSS $ 9.000.00 16 Apartments-- Loss per apartment- yearly 562.50 weekly 10.82 ;voul :, have to increase the rent in each apartment 10.92 wer kly N) / /f `` I 1 .� \ r f VF page 107 THE VALUE FORMULA Applicable to 3-Family (or over) buildings and other Income Property. STEP 1: to find the ANNUAL WORKING INCOME (the AWI) Enter the Gross Yearly Rents here $ Enter total yearly taxes and utilities supplied here (see* note) $ 1/1 / ,,7 DEDUCT tax and utility total from Gross Rents, Balance is ANNUAL WORKING INCOME enter here $2 6 6. 03 STEP 2: List above-normal expenses; fuel; loss factors. Enter any annual mortgage interest above 6% here $ Enter any janitor cost above 7% of the ANNUAL WORKING INCOME (AWI) here $ If Wood Exterior, - - enter 10% of the ANNUAL WORKING INCOME here $ If building is reached by a hillclimb enter 7% of Annual Working Income here $ DEDUCTION FOR LOCATION: For Excellent location 0% of AWI For Good location 5% of AWI © 7 For Fair lc cation 10% of AWI ----- .�_ For Poor location 25% of AWI For Very Poor or Slum - - - -50% of AWI IF HEATED by OWNER, enter ANNUAL FUEL BILL HERE - - $ } 9 411/ If building contains 4th floor walkups enter 20% of the 4th floor rents here $ If building contains 5th floor walkups enter 30% of the 5th floor rents here $STEP 3: ADD ALL ITEMS IN STEP 2 and enter total here $ 7 4 / STEP 4: SUBTRACT from ANNUAL WORKING INCOME. $ / f �� Balance is PRIMARY ADJUSTED INCOME. Enter here 7i / = = = Part II of The Value Formula = _ _ ADDITION OF EXTRA-PROFIT ITEMS AND FACTORS enter PRIMARY ADJUSTED INCOME FIGURE HERE $ /7, /3 STEP 5: List all extra-profit items and factors: List any mortgage interest saving UNDER 6% enter annual saving here $ If parking or garages available; 1 per tenant, whether free or not; for parking, 5% of AWI; for garages, 8% of AWI $ f , If janitor service is NOT supplied enter 5% of ANNUAL WORKING INCOME here $ / 4-0 Q If all electric bills are paid by the tenants enter 2% of the ANNUAL WORKING INCOME HERE $ STEP 6: ADD total of all items in Part II including Primary Adjusted Income. Total is FINAL ADJUSTED INCOME - - - - STEP 7: MULTIPLY Final Adjusted Income by 6-2/3 (or divide by 3 and multiply by 20) Result is GROSS VALUE $ STEP 8: Enter cost of repairs required to put property in reasonable condition here $ STEP 9: DEDUCT cost of repairs from Gross Value. Balance is FAIR MARKET VALUE of the property $ ! 3g. fj *note in computing Tax-and-utility deduction: where furnishings are supplied with apartments, include here the annual cost of replacing furniture and furnishings. Copyright 1960 Lee Institute Order these forms direct from Realforms, P.O. Box 1, Brookline 46, Mass. Form No. 107 VF f . 75V F page 107 c THE VALUE FORMULA Applicable to 3-Family (or over) buildings and other Income Property. STEP 1: to find the ANNUAL WORKING INCOME (the AWI) Enter the Gross Yearly Rents here $ 31-D_Zo Q Enter total yearly taxes and utilities supplied here (see* note) $ DEDUCT tax and utility total from Gross Rents, Balance is ANNUAL WORKING INCOME enter here $ / r STEP 2: List above-normal expenses; fuel; loss factors. Enter any annual mortgage interest above 6% here $ Enter any janitor cost above 7% of the ANNUAL WORKING INCOME (AWI) here $ If Wood Exterior, - - enter 10% of the ANNUAL WORKING INCOME here $ If building is reached by a hillclimb enter 7% of Annual Working Income ere h $ DEDUCTION FOR LOCATION: For Excellent location 0% of AWI For Good location 5% of AWI For Fair lccation 10% of AWI 1-7 57 For Poor location 25% of A701"`/- For Very Poor or Slum - - - -50% of AWI IF HEATEDbyOWNER, enter ANNUAL FUEL BILL HERE - - $ 7 == 40 If building contains 4th floor walkups enter 20% of the 4th floor rents here $_ / /'r0Q If building contains 5th floor walkups ! enter 30% of the 5th floor rents here $ STEP 3: ADD ALL ITEMS IN STEP 2 and enter total here $ /3 570 STEP 4: SUBTRACT from ANNUAL WORKING INCOME. Balance is PRIMARY ADJUSTED INCOME. Enter here $ g yr53O _ = Part II of The Value Formula = = _ ADDITION OF EXTRA-PROFIT ITEMS AND FACTORS enter PRIMARY ADJUSTED INCOME FIGURE HERE $ STEP 5: List all extra-profit items and factors: List any mortgage interest saving UNDER 6% enter annual saving here If parking or garages available; 1 per tenant, whether free or not; $ tig n for parking, 5% of AWI; for garages, 8% of AWI $ ,,...- If janitor service is NOT supplied enter 5% of ANNUAL WORKING INCOME here If all electric bills are paid by the tenants $ enter 2% of the ANNUAL WORKING INCOME HERE $ G,vyI Q STEP 6: ADD total of all items in Part II including Primary Adjusted Income. Total is FINAL ADJUSTED INCOME - - - - $ '9 STEP 7: MULTIPLY Final Adjusted Income by 6-2/3 (or divide by 3 and multiply by 20) Result is GROSS VALUE STEP 8: Enter cost of repairs required to put property in reasonable 80, condition here $ `_� cc' 0 STEP 9: DEDUCT cost of repairs from Gross Value. Balance is FAIR MARKET VALUE of the property $ 9657 )7 *note in computing Tax-and-utility deduction: where furnishings are supplied with apartments, include here the annual cost of replacing furniture and furnishings. Copyright 1960 Lee Institute 14) Order these forms direct from Realforms, P.O. Box 1, Brookline 46, Mass, Form No. 107 VF l \ F page 107 - - THE VALUE FORMULA .- V Applicable to 3-Family (or over) buildings and other Income Property. STEP 1: to find the ANNUAL WORKING INCOME (the AWI) Enter the Gross Yearly Rents here $ 3 AA 740 Enter total yearly taxes and utilities supplied here (see* note) $ ZtC) DEDUCT tax and utility total from Gross Rents, Balance is ANNUAL WORKING INCOME enter here $,f4,, /st,(27 STEP 2: List above-normal expenses; fuel; loss factors. Enter any annual mortgage interest above 6% here $ Enter any janitor cost above 7% of the ANNUAL WORKING INCOME (AWI) here $ If Wood Exterior, - - enter 10% of the ANNUAL WORKING INCOME here $ If building is reached by a hillclimb enter 7% of Annual Working Income here $ DEDUCTION FOR LOCATION: For Excellent location 0% of AWI For Good location 5% of AWI For Fair lccation 10%,of AWI For Poor location 25% of AWI For Very Poor or Slum - - - -50% of AWI IF HEATED by OWNER, enter ANNUAL FUEL BILL HERE - - $ 7 3$O If building contains 4th floor walkups enter 20% of the 4th floor rents here -'�- f ' - - - - - - - $ /• '71a If building contains 5th floor walkups enter 30% of the 5th floor rents here $STEP 3: ADD ALL ITEMS IN STEP 2 and enter total here $ / ,376 STEP 4: SUBTRACT from ANNUAL WORKING INCOME. Balance is PRIMARY ADJUSTED INCOME. Enter here $ / .gall = _ = Part II of The Value Formula = = = ADDITION OF EXTRA-PROFIT ITEMS AND FACTORS enter PRIMARY ADJUSTED INCOME FIGURE HERE $ 1/• STEP 5: List all extra-profit items and factors: List any mortgage interest saving UNDER 6% enter annual saving here $ If parking or garages available; 1 per tenant, whether free or not; for parking, 5% of AWI; for garages, 8% of AWI $ / 73 g If janitor service is NOT supplied enter 5% of ANNUAL WORKING INCOME here $ g If all electric bills are paid by the tenants enter 2% of the ANNUAL WORKING INCOME HERE $ 95 STEP 6: ADD total of all items in Part II including Primary Adjusted Income. Total is FINAL ADJUSTED INCOME - - - - $ /6.QS / STEP 7: MULTIPLY Final Adjusted Income by 6-2/3 (or divide by 3 and multiply by 20) Result is GROSS VALUE $ /07. c STEP 8: Enter cost of repairs required to put property in reasonable condition here $ 3 ,. 00 a STEP 9: DEDUCT cost of repairs from Gross Value. Balance is FAIR MARKET VALUE of the property $ /Oa 6)1r *note in computing Tax-and-utility deduction: where furnishings are supplied with apartments, include here the annual cost of replacing / , z) (0 b furniture and furnishings. Copyright 1960 Lee Institute Order these forms direct from Realforms, P.O. Box 1, Brookline 46, Mass. Form No. 107 VF esas AL INFCSMATICe 1 . 'lost apartments have only half tubs and showers. Others have old fashioned tuts. athrooms are very small and will not accept a full tut . 2 . uiLling had been for sale for quite a few years, many agents bad listing . I thought I could Puild up some equity for retirement. z. Tfae into consideration, occasional vacancies, non-payment of rent, difficulty in renting a forth floor apartment, and building location. hen I place an ad in the newspapers and eo7sle call me up on the phone, in most cases when I tell them the location of the apartment they tell me they are looking for a Petter area. 4. I would glally sell the building, just to get my investment Lack, I' ll even taKe a little loss. 5. In 1987, I must pay off the balance of the second mortgage ( 24.174.77) . I should le making a profit to put aside for this purpose or else I will have to re-borrow or re-finace eortgage. 6. Check with city police, this area is one of the fastedt growing crime areas in the city. Three weeks ago, someone ircke into the locke ' cellar and stole tools, car raio, etc. total value 700.0e1 7. NO federal Aid as in low cost housing. F. If I raise rents, which tenants can' t afford, ,L sill only have more vacancies or if the tenants edon' t move , more of them will le lehina in rent payments which they will never be aLle to catch up. n. I don' t snorer the new assestment for other houses in the area, lut if they are all in the same percentage as mine, the owners would not be able to keep up the property. Many buildings will be lost to the banks our abandoned. This area will become the greatest slum around. 10 . Salem news article quotes the mayor as saying that the assestments he has seen incresed about 3 times over last year . iy assestment has increased 6 times. SLE NiLV.SPAPER ARTICLz; 11 . A33eSTMITS- 1174 1975 Land 2.100.00 33.500.00 Luilding 24.000.00 117.100.00 26-.100.00 150.600.00 Increase 5.77 77,re5 ate of 152.00 Tax a.167.20 If rate of 50.00 Tax 7.500.00 12 . At time I purchases ** property, the oil cost was 4 3.000.00 Cost will le 7.380.00 7 NAME.., IeO/t1/1A'� -t- _ 0se Levy YEAR ENL .G , ecepn; 1,Q,,, 5/,1! ► 1 / Q ) ADDRFfiS a 0QE� Cl y-,4 ieUr,'? GL I DS 0Z-2 ,c- _ F._, f�1 C L t 1. 1))� �'- — l i./77--.-....1:*" INCOME FROM 1 NTS Aar g'�y� Na, js•r ./?3E. 32 F. I PROPERTY fs))s e/ Si .si•/) t o/r/,vi 1T�r t oh,/,,i, .5m k./Y, j T.OTAL ..re J rJ1,/•et Sa ere;,.;;ti cpteal eocree lt,LI Sh1f vl RENTAL INCOME J 7S`3 Y/ 4 f 9 ll R 6 ev e.3 017 Lit s 3 . v ,27y52 en so7A 5 6d S . J7 1317- 2i11L3 1 .a DEPRECIATION V/ /'D l' V. / P,i'- .ry'[ l rp r? .'? Gi ,70 se e,._ . - REPAIRS: _ s_l Heating nit ��_ Plastering -- —Roofing Plumbing t ASi 3y . . . L7! `l 13 6 o t{, _._.t_._w i; Carpentry - Electrical 1 Masonry _ I Supplies Maintenance '/ 72 76 y t,_r %' '�' 1' �, 'm Paper hanging it Floor scraping i 11 li EXPENSES: - f i R. E. Taxes rno SV C1Z'! `' ! c2v 00 .55'2 so ' , s1 s7 Interest /Pio 7y 1 j R 13 5170 YY .2 D3, V/S /, Y73 ,or 1 ti Insurance 3 fl 7 _o j /5')- oo ► z.o no ' 1I Water '/c 3/ !p O 'V 2 2 2 S ')'L' i e ?0 // 3 • . . l So zo a77 Janitor I 1 Payroll taxes r _ J Legal & Audit /73 r(/ S/1 VS 6 721 1 Travel & Auto _ _, �I .-- Advertising 1 Telephone oFriCe, (:en)T 1 7. - r,:� —__ 1 r OTAL COSTS �{� SO 0 (s / J? �l ti3 sz 8e so P Y _? 6 ? 3 ' T ' PERSONAL TENANCY , _.. / DEDUCTIBLE wars NET T.NCOME(: > . (g 9/ / %; 1 �r-,o :'ti,., �__ "� , ,�"7// t. ", /T• 1 - -�--- 1 / 5 i C Schedule EXPLANATION Or DEDUCTION FOR DEPRECIATION • Cost or .0 ' Depreaas ion bans (lb vot Remaining cost of Rae Deptetiation Deis include lona or allowed (or (�,) atgsittd other nondepre allowable)in other basis to be Method or life(years) allowable thin RING Of PNOP(RTy rtcoraed year ciable property! prior 1 i !�_-1 . j .,.• form 3040 (1973) Page 2 (a) NAME (b) Relationship (c) Months lived in your (d) Did de- (e) Amount YOU (f) Amount fur- i '2 home. If born or died pendent have furnished for de- nished by OTHERS i C, during year,write B or D. income of pendent's sup- including depen- a. i b C) - $750 or more? port. If 100% dent. h C) write ALL. r $ $ C Ca } 27 Total number of dependents listed in column (a). Enter here and on line 6d l_ Income other than Wages, Dividends, and Interest -- 28 Business income or (loss) (attach Schedule C) 29 Net gain or (loss) from se or al exchange of capital assets (attach Schedule D) 29 I S 43 el ISot g 30 Net gain or (loss) from Supplemental Schedule of Gains and Losses (attach Form 4797) . • • 30 (/IS 31 Pensions, annuities, rents, royalties, partnerships, estates or trusts, etc. (attach Schedule E) • • 31 JS L[ 7 32 Farm income or (loss) (attach Schedule F) 32 33 Fully taxable pensions and annuities(not reported on Schedule E—see instructions on page 8) 33 T 34 50% of capital gain distributions (not reported on Schedule D) 34 — r does not apply if refund is for year in which you took the 35 — 35 State income tax refunds(standard deduction—others see instructions on page 8 3333 36 Alimony received 36 - _ _ 37 Other (state nature and source) ► 37 1 )3, g ,� 38 Total (add lines 28, 29,30, 31,32,33,34,35,36, and 37). Enter here and on line 12 . . .► 38 .. Adjustments to Income 39 "Sick pay." (From Forms W-2 and W-2P.If not shown on Forms W-2 or W-2P,attach Form 2440 or statement.) 39 40 Moving expense (attach Form 3903) - 40 il 41 Employee business expense (attach Form 2106 or statement) 41 — .42 Payments as a self-employed person to a retirement plan,etc. (see Form 4848) 42 43 Total adjustments (add lines 39,40,41,and 42). Enter here and on line 14 F' d3 — ! e{q : 45 { NOTICE TO EMPLOYEE: 47 1. Income Tax Wages, - This statement is important. Copy B must he filed with your l-ederal Income Tax Return for 1973 and Copy 2 must be filed with your State or City Income Tax Return for - • 1973. if your sociat security number, name, o. address is stated incorrectly, correct the r information on copies B and 2 and notify your employer. - t 2. Social Security Wages - If your wages were subject to social security taxes, but are not shown,your Mi i social cecuri(y wages are tine same as wages shown under "FEDERAL INCOME TAX ; { INFORMATION-" but not more than the maximum amount subject to FICA tax. j • 49 i 5Q 3. Credit For FICA Tax - if more than the maximum of FICA (social security and hospital insurance) employee tax ille . ing 1973 because you received wanes from more than one 51 entl)lo� claimed as a credit against your Federal income tax. See 52 instr!cti(- S .:ome tax return. The social security (FICA) rate of 5.85% 53 , - . • . .. . `.rt -_ : :, f-).- _,i l )ten ,irV'Vorc -rIC r;ic-:)) IItV 54 insurance. til 55 • 56 • - - - - -, 58 Minimum tax. Check here ► Ei, if Form 4625 is attached 58 59 Social security tax on tip income not reported to employer(attach Form 4137) 59 60 Uncollected employee social security tax on tips (from Forms W-2) 60 61 Total (add lines 55, 56, 57,58, 59,and 60).Enter here and on line 19 ► _ 61 - j` : '; Other Payments 62 Excess FICA tax withheld (two or more employers—see instructions on page 9) 62 63 Credit for Federal tax on special fuels, nonhighway gasoline and lubricating oil (attach Form 4136) 63 , 64 Credit from a Regulated Investment Company (attach Form 2439) 64 65 Total (add lines 62, 63,and 64). Enter here and on line 21d 65 Did you, at any time during the taxable year, have any interest in or signature or other authority over t.1 a bank, securities, or other financial account in a foreign country (except in a U.S. mii:tary banking •2,: 8 facility operated by a U.S. financial institution)? ► f] Yes No , II;eV If"Yes," attach Form 4683.(For definitions, see Form 4683.) i Lr levy O 7-/8 - 2315 ` r - ,C)1. • 4, 9 MAP ~/ LOT APPLICATION FOR REVIEW OF REAL ESTATE ASSESSMENT Address of Property . ,. ..,..-„� .. .. . .... SS • Owner on January 1, 197 4 i-E-d/vA X.D . Year Land was Purchased Amount Paid Year Land and Bldgs. Purchased 7 Amount Paid / y 7 O d C - • ® / './ S. Approximate Age of House • Original Cost, if Known .. ... .._ _.... . ... ........... Approximate Age of Other Bldgs. Original Cost, if Known Give the approximate cost of any other improvements or alterations not included above: Year Installed Cost Details of Improvements Do the costs given above include the value of all labor and materials necessary to complete the construction? If not, please explain Were the buildings constructed by a contractor or by the owner? The total Fire Insurance coverage on the buildings is I —4" .Total rentals received per Month 1.. `/ // The present Mortgage on the property is If you were to sell the property at the present time, what would you expect the Sale Price to be? • List any other factors that you wish to be considered. 94 nL'77r-/S df -'7 7-/ — Ri C! 3. n. 2- / F �,. y/ VA1.�.4TrD4/ r$ /S� .4v!>•Oo0.0 o . .i, .eAre- ,$ s� - ,v&- r c- 40- c/�..c. 'gee- _ ), 93 7 man ►� t ram- N�k/ O!— /CAT& - "ar,-rr! 444r�6-- 3' 11 gLei'd oS Si Date lC),i / 9 7;7_ RECOM- INTV NO. MENOATION"i NC CM REV INSP INS BY REV. BY NC CM ' 4 5. Does the lease contain a tax clause or any other clause that reimburse owner any or part of operating expenses?If .there: is a tax clause , please state the base year of said clause and the amount over base year that the tenant pays . Please list any other clauses that reimburse owner any part of operating expenses. xr 6. If owner occup%ed, please state gross amount of sales for the following years. 1970 1971 1972 6A Nature of business 7. Actual gross income from property: 1970 ,1 - 1971 .9_' e,ev. — 1972 -a-e-tcr s-aff Ling the value of the Property: 9. At present there is a physical appraisal being made of the property under the equalization survey now in progress. The above information requested is to determine economic factors affecting t value of the property normally considered in commercial proper- ties . This information is for the use of the Assessor ' s Office and the Appraisal Concern only and shall be retained by the Assessor ' s in a confidential file. It shall not be placed with other records and data available for public insp ction at any time without the written consent of the ro erty own . Date /j .-// -'�3 Signed ___ • t REVALUATION PROGRAM CONFIDENTIAL INFORMATION Please Return to the Assessor' s Office Town Fall Salem, Massachusetts 01970 Map 3y Plot 2S 1 Property Address 3 SA le Utn�er k©yen, `� 1-r,)s e s -TaimI& rs CTA / Trs 1. (a) Year property purchased/94 /L. Purchase Price ,5-9 e() (% (b) Year building was erected_742/ ___ (c) Original Cost if known (d) Did contract include complete price , Including con- tractor's profit and overhead and architect ' s fees? -- if not , please explain. (e) Did you subcontract the construction? Aie 2. Give year, cost and brief description of all major additions or alterations to property. yam- 3. Rental Data (a) First Floor Unit Type of Occupancy- Year Lease Year Present Gross (Office , Apartment , Negotiated or -Lease !Monthly Mo. Store or Other) Tenant at Will Expired :Rent Rent First Occupied 9.0 SO . AB • I ( . 3. Rental Data (Continued) , Floor Type of Occupancy- I Gross Rent Services Furnished (Office, Apartment,I Per Month Tenent Store or Other ) ' Show V if Vacant X (b ) 2 1 h99.4e7GP247i/7" fd 2 /, 0 _7e- .1 _/. if er -./.- ,6.; 4 11 1 'X 4 - , ,A/v ____ 5 : 7 1 (c ) 3 1 •-•‘/Zzel/ r ii 2 , f V.1 II is isv - ,, ,,20-1,4.7--ziz ______ ,-- ii (d ) 4 I o 2 j4,A421---41- )'>/ dfc/ II • --e?.4.e'e -/ ' I 4 2S -43 5 i (e ) 5' 1 _ 2 4. Operating Expense Last Three Years a .;,, ecr ,z 9 ' ..?,3 Heat 1972 Electricity 0140. 57** V‘t / ., Water y„t1,t4r: aTe5/-,4i Janitor - .__ ___1..P_,__ae 1 Insurance(Pro Rata Annual) ff-b-,,,,./0 z ado",e.0 4 . 62. ' 7 Maintenance — _21,4g,zto-J2 _9 '9/', 9 0.2 6ii. 7./ Management Other Expense rAlacc s f 7 5°07-1'9 3 46P. Other Expense ifiyymi)Eacita-s -0'iye/j.d- _ '' _ _ .J-60. e)e' Other Expense ----- — - , _ . ______ 1 •