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7 Forrester St, Salem MA 01970

$1,275,000

Estimated $3,212.41/month Calculator

Multi Family

Total Units: 3

Price Per Unit: $425,000

Total Rent: 84000/year

Estimated CAP Rate: 5.11%

6 Bedrooms

3 Full Baths

3,748 SqFt

Total Parking: 2

4,922 SqFt

Discover the perfect blend of historic Salem charm and modern convenience in this beautifully maintained 3-family home just steps from Salem Common. Each spacious unit offers 2 bedrooms, high 9-foot ceilings, and an abundance of natural light that highlights the home’s character—including oak and pine flooring, detailed mouldings, and two bay windows in both Units 1 and 2. The first and second floors also feature fireplaces (condition unknown), adding architectural appeal and potential for restoration. All three units have updated kitchens and baths, offering a move-in-ready experience for occupants or a low-maintenance opportunity for investors. Outside, enjoy a nice yard perfect for gardening, relaxation, or tenant use, along with off-street parking for two cars in the private driveway—an invaluable benefit in this desirable Salem neighborhood. Located close to the commuter rail & downtown. First showings at OPEN HOUSES - SAT& SUN, 11-12:30. Offer deadline is Tuesday at 12 noon.

This home has been viewed 17 times

Last Checked: December 13th, 2025 at 7:04pm (Source: MLS PIN #73461588)

Gross Income: $84,000

Gross Expenses: $18,840

Net Income Calc: $65,160

CAP Rate: 5.11%

Annual Expenses for 7 Forrester St, Salem MA 01970

Total Gross Expenses (Calculated)$18,840/year

APOD AvailableYes

Heating

Electricity$200

Water$1,500

Gas$1,500

Insurance$2,500

Sewer$1,500

Trash Removal$900

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$13,740

Annual Income & Unit Breakdown for 7 Forrester St, Salem MA 01970

Total Gross Income (Calculated)$84,000

Unit 1

Rental Income$2,500

LeaseN

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

Unit 2

Rental Income$2,500

LeaseN

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

Unit 3

Rental Income$2,000

Lease

Bedrooms2

Bathrooms1 Full

Floor3

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

General Information for 7 Forrester St, Salem MA 01970

Listing ID73461588

Property TypeMulti Family / 3 Family

Price$1,275,000 ($340.18/SqFt)

Style3 Family

CitySalem

CountyEssex

MLS AreaDowntown

Neighborhood(s)Ipswich

Approximate Living Area Total3,748 SqFt

Approximate Lot Size (Acres)0.11 acres

Total Parking2

Garage Parking

Year Built1886

Year Built SourcePublic Records

Year Renovated

Year Built DetailsApproximate

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsFrame

Lot Features

Foundation Area

Foundation DescriptionStone,Brick/Mortar

Accessible Features

Outdoor Space

ZoningR2

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront FeaturesBeach Ownership(public), 1 To 2 Mile To Beach

Energy Features

Terms

Disclosures for 7 Forrester St, Salem MA 01970

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data SourceOwner

Total Gross Expenses By Broker$5,100

Total Gross Income By Broker$84,000

Total Net Income By Broker$84,000

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation

Facilitator Compensation

Sub-Agent Compensation

Compensation Based On

Financial Information for 7 Forrester St, Salem MA 01970

Real Estate Taxes$13,740

Tax Year2025

Assessed Value$1,211,600

Financial Data SourceOwner

Total Gross Expenses By Broker$5,100

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$84,000

BostonRealEstate.com Gross Income

Total Net Income By Broker$84,000

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)5.11%

Location Information for 7 Forrester St, Salem MA 01970

Elementary School

Middle School

High School

Neighborhood(s)Ipswich

MLS AreaDowntown

Area AmenitiesWalk/jog Trails, Shopping, Bike Path, Public Transportation, T-station

Contact Information for 7 Forrester St, Salem MA 01970

Agent

Name: Armstrong Field Team

Office

Name: Aluxety

Phone: 800-806-3212

Team Members

Name: Jim Armstrong

Phone: 978-394-6736

Payment Calculator

, Interest

Property Taxes 1145

Principal & Interest 7856.14

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Aluxety

Armstrong Field Team

Agent Phone

Office Phone

(800) 806-3212

Text Agent Call Agent Call Office

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EXIT

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7 Forrester St, Salem MA 01970

$1,275,000

Annual Expenses for 7 Forrester St, Salem MA 01970

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Financial Information for 7 Forrester St, Salem MA 01970

Location Information for 7 Forrester St, Salem MA 01970

Contact Information for 7 Forrester St, Salem MA 01970

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