NOT LISTED FOR SALE

17 Palmer St Salem, MA 01970

The Point Neighborhood
19 Beds
6 Baths
7,044 Sq Ft
7,052 Sq Ft Lot

Last Sold May 17, 2024

Last sale price $1,900,000 $270 Per Sq Ft

13 Days on Market

About This Home

As of May 2024

Discover the potential of this oversized 6-family property located at 17-23 Palmer St. Each unit boasts ample space, with four (4) large 3-4 bedroom, 1 bath units, and two (2) spacious 3 bedroom, 1 bath units. With 6-7 off-street parking spots, this property offers convenience and accessibility for both tenants and landlords alike. Landlord is responsible for Heat and some HW. Tenants pay their own electric. Rents are below market. See attached OM for rent roll (including pro forma) and detailed incomes/expenses.

Last Agent to Sell the Property

Francesca Little

Little & Co., REALTORS® Listed on: 03/21/2024

Last Buyer's Agent

Arfaat Ali

Fairview Partners International LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,657

Year Built

  • Built in 1915

Lot Details

  • 7,052 Sq Ft Lot

Home Design

  • 7,044 Sq Ft Home
  • Stone Foundation
  • Shingle Roof

Bedrooms and Bathrooms

  • 19 Bedrooms
  • 6 Full Bathrooms

Parking

  • 6 Car Parking Spaces
  • Off-Street Parking

Utilities

  • Heating System Uses Natural Gas
  • Hot Water Heating System

Listing and Financial Details

  • Total Actual Rent $10,827

Community Details

Overview

  • 6 Units
  • Property has 1 Level

Building Details

  • Electric Expense $895
  • Insurance Expense $6,748
  • Water Sewer Expense $8,540
  • Operating Expense $37,590
  • Net Operating Income $88,436

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,657

Year Built

Built in 1915

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5-9 Family
  • Year Built: 1915
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 9

Interior Features

  • Fireplace YN: No
  • Total Bedrooms: 19
  • Full Bathrooms: 6
  • Total Bathrooms: 6
  • Living Area: 7044
  • Spa YN: No
  • Stories Total: 9
  • MAIN LO: C67600
  • MAIN SO: AN6181

Exterior Features

  • Foundation Details: Stone
  • Home Warranty YN: No
  • Roof: Shingle
  • Waterfront YN: No
  • Waterview Flag: No

Garage/Parking

  • Garage YN: No
  • Parking Features: Off Street
  • Total Parking Spaces: 6

Utilities

  • Sewer: Public Sewer
  • Heating: Hot Water, Natural Gas
  • Heating YN: Yes
  • Water Source: Public
  • Hot Water: Natural Gas

Condo/Co-op/Association

  • Senior Community YN: No

Fee Information

  • Water Sewer Expenses: 8540

Lot Info

  • Zoning: R3
  • Farm Land Area Units: Square Feet
  • Lot Features: Other
  • Lot Size Acres: 0.16
  • Lot Size Sq Ft: 7052
  • Lot Size Units: Acres
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 10657

Multi Family

  • Electric Expense: 895
  • Insurance Expense: 6748
  • Net Operating Income: 88436
  • Number Of Units Total: 6
  • Operating Expense: 37590
  • Total Actual Rent: 10827
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 4: 1
  • LEVELS 3: 1
  • LEASE 4: Y
  • LEASE 3: Y
  • LEASE 2: Y
  • LEASE 1: Y
  • FLRS 3: 3

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/17/2024 05/17/24 Sold $1,900,000 -5.0% $270 / Sq Ft
04/04/2024 04/04/24 Pending -- -- --
03/21/2024 03/21/24 For Sale $2,000,000 -- $284 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Francesca Little

    Seller's Agent in 2024

    Francesca Little

    Little & Co., REALTORS®

    (978) 745-4447

    10 in this area

    31 Total Sales

    Francesca Little
    Section Image

  • A

    Buyer's Agent in 2024

    Arfaat Ali

    Fairview Partners International LLC

    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73215172

MLS Property Information Network (MLS PIN)
Massachusetts Essex County Salem 01970 The Point

17 Palmer St, Salem, MA

Not Listed for Sale

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MLS Property Information Network (MLS PIN) The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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