15 1/2 Palmer St Salem, MA 01970
The Point NeighborhoodEstimated payment $5,655/month
Highlights
- Medical Services
- Enclosed Patio or Porch
- Coin Laundry
- Property is near public transit and schools
- Park
- 3-minute walk to Mary Jane Lee Park
About This Home
Located on a quiet side street just moments from downtown Salem, this deleaded three-family property presents an outstanding investment opportunity with a proven rental history. The Property features three (3) spacious two-bedroom units, making it an attractive option for both investors and owner-occupants seeking stable income. Well maintained throughout, the property includes modern high efficiency Navien heating systems, a convenient coin-operated laundry area, covered rear porches, a fenced in backyard for shared outdoor space and parking for all three units. The Property is currently occupied by long-term tenants, providing immediate and consistent rental income. The owner pays for heat and hot water, tenants are responsible for electric.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,054
Year Built
- Built in 1915
Lot Details
- 4,021 Sq Ft Lot
- Fenced
Home Design
- Frame Construction
- Shingle Roof
- Concrete Perimeter Foundation
Interior Spaces
- 3,968 Sq Ft Home
- Property has 1 Level
- Range
- Basement
Bedrooms and Bathrooms
- 6 Bedrooms
- 3 Full Bathrooms
Parking
- 4 Open Parking Spaces
- 4 Car Parking Spaces
- Off-Street Parking
Additional Features
- Enclosed Patio or Porch
- Property is near public transit and schools
- Heating System Uses Natural Gas
Listing and Financial Details
- Rent includes unit 1(heat hot water), unit 2(heat hot water), unit 3(heat hot water)
Community Details
Overview
- 3 Units
Amenities
- Medical Services
- Coin Laundry
Recreation
- Park
Building Details
- Electric Expense $758
- Insurance Expense $2,881
- Water Sewer Expense $1,352
- Operating Expense $20,679
- Net Operating Income $57,880
Map
Home Values in the Area
Average Home Value in this Area
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/04/2026 08/04/26 | Price Changed | $899,000 | -4.3% | $227 / Sq Ft |
| 07/28/2026 07/28/26 | For Sale | $939,000 | -- | $237 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73556225
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