Overview Property Details Payment Calculator Walkability

Add to favorites

Remove from favorites
Send to Friend
Watch changes on this property

Withdrawn

17-23 Palmer St, Salem MA 01970

$2,299,900

Estimated $5,064/month Calculator

Multi Family

Total Units: 6

Price Per Unit: $383,316.67

Total Rent: 169008/year

Estimated CAP Rate:

19 Bedrooms

Baths

7044

Total Parking: 6

7,052 (0.16)

CASH COW! Strong cash-flowing 6-unit multifamily investment opportunity in desirable Salem, MA. The property generates approximately $248,724 in gross annual income and a high NOI, offering an attractive cap rate of approximately 8.5%. Based on typical financing assumptions, projected Year-1 cash flow is approximately $64,000 with a healthy DSCR of about 1.46. The building includes six residential units plus additional income from laundry and storage. Conveniently located near MBTA commuter rail with easy access to Boston and Salem’s vibrant downtown, waterfront, restaurants, and retail. Excellent opportunity for investors seeking stable income with long-term upside potential.

This home has been viewed 25 times

Last Checked: June 12th, 2026 at 4:29am (Source: MLS PIN #73484686)

Gross Income: $169,008

Gross Expenses: $31,797

Net Income Calc: $137,211

Annual Expenses for 17-23 Palmer St, Salem MA 01970

Total Gross Expenses (Calculated)$31,797/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax16019

Annual Income & Unit Breakdown for 17-23 Palmer St, Salem MA 01970

Total Gross Income (Calculated)$169,008

Unit 1

Rental Income$0

LeaseY

Bedrooms4

Bathrooms1 Full

Floor1

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseY

Bedrooms4

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

Unit 3

Rental Income$0

LeaseY

Bedrooms3

Bathrooms1 Full

Floor3

Levels in Unit1

Rent Includes

Unit 4

Rental Income$0

LeaseY

Bedrooms4

Bathrooms1 Full

Rent Includes

General Information for 17-23 Palmer St, Salem MA 01970

Listing ID73484686

Property TypeMulti Family / 5+ Family

Price2299900 ($326.5/SqFt)

Style5-9 Family

CitySalem

CountyEssex

Neighborhood(s)Ipswich

Approximate Living Area Total7044

Approximate Lot Size (Acres)0.16

Total Parking6

Garage Parking0

Year Built1915

Year Built SourcePublic Records

Year Built DetailsActual

WaterPublic

SewerPublic Sewer

Electric

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor SpaceCovered

ZoningR3

Water Views

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 17-23 Palmer St, Salem MA 01970

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsDining Room Chandelier

Financial Data SourceEstimated

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Compensation Based On

Financial Information for 17-23 Palmer St, Salem MA 01970

Real Estate Taxes16019

Tax Year2025

Assessed Value$1,412,600

Financial Data SourceEstimated

Total Gross Expenses By Broker

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker

BostonRealEstate.com Gross Income

Total Net Income By Broker

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

Location Information for 17-23 Palmer St, Salem MA 01970

Neighborhood(s)Ipswich

Area Amenities

Contact Information for 17-23 Palmer St, Salem MA 01970

Agent

Name: The Liu Group

Office

Name: Realty ONE Group Cosmopolitan

Phone: 781-219-3200

Team Members

Payment Calculator

, Interest

Property Taxes 1334.92

Principal & Interest 14171.25

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Realty ONE Group Cosmopolitan

The Liu Group

Agent Phone

Office Phone

(781) 219-3200

Text Agent Call Agent Call Office

Array
(
    [acres] => Approx. 0.16 acres (7,052 SqFt)
    [add_date] => 2026-03-11 07:08:35
    [address] => Palmer St
    [agent] => Array
        (
            [address] => 
            [city] => 
            [id] => CN252197
            [name] => The Liu Group
            [national_association] => 
            [office] => AN6811
            [state] => 
            [zip] => 
        )

[apod_available] => Array
        (
            [0] => Yes
        )

[appliances] => Array
        (
        )

[approx_living_area_total] => 7044
    [approx_lot_size_acres] => 0.16
    [approx_lot_size_sqft] => 7052
    [assessed_value] => $1,412,600
    [association] => 
    [association_fee] => Array
        (
        )

[association_fee_frequency] => Array
        (
        )

[association_fee_includes] => Array
        (
        )

[association_required] => Array
        (
        )

[available_date] => 
    [available_now] => 0
    [basement] => Array
        (
            [0] => Full
        )

[bathrooms] => 
    [bedrooms] => 19
    [building_amenities] => Array
        (
        )

[building_area_source] => Array
        (
            [0] => Public Records
        )

[building_management] => Array
        (
        )

[building_debug] => 
    [building_id] => 
    [building_parent] => 0
    [building_name] => 
    [building_name_from_address] => 
    [building_url] => 
    [buyer_agent_compensation] => 
    [buyer_agent_id] => 
    [buyer_office_id] => 
    [c_style] => Array
        (
            [0] => 5+ Family
        )

[c_type] => Array
        (
            [0] => Multi Family
        )

[cap_rate] => 
    [city] => Salem
    [community_features] => Array
        (
        )

[compensation_based_on] => Array
        (
        )

[complex_complete] => Array
        (
        )

[construction_materials] => Array
        (
            [0] => Frame
        )

[construction_status] => 
    [cooling] => Array
        (
        )

[cooperating_agent_commission] => Array
        (
        )

[county] => Essex
    [cultivation_acres] => 
    [date_available_note] => 
    [deposit_amount] => Array
        (
        )

[deposit_required] => Array
        (
        )

[deqe] => 
    [description] => CASH COW! Strong cash-flowing 6-unit multifamily investment opportunity in desirable Salem, MA. The property generates approximately $248,724 in gross annual income and a high NOI, offering an attractive cap rate of approximately 8.5%. Based on typical financing assumptions, projected Year-1 cash flow is approximately $64,000 with a healthy DSCR of about 1.46. The building includes six residential units plus additional income from laundry and storage. Conveniently located near MBTA commuter rail with easy access to Boston and Salem’s vibrant downtown, waterfront, restaurants, and retail. Excellent opportunity for investors seeking stable income with long-term upside potential.
    [disclosures] => 
    [documents_available] => Array
        (
        )

[electric] => Array
        (
        )

[electric_expense] => Array
        (
        )

[elementary_school] => 
    [en_suite_bath] => Array
        (
            [0] => Yes
        )

[energy_features] => 
    [entry_level] => Array
        (
        )

[estimated_monthly_payment] => 
    [exclusions] => Array
        (
            [0] => Dining Room Chandelier
        )

[exterior_features] => Array
        (
        )

[facilitator_compensation] => 
    [fee_paid_by_tennant] => 
    [financial_data_source] => Array
        (
            [0] => Estimated
        )

[fireplaces] => Array
        (
        )

[first_month_required] => Array
        (
        )

[floor_number] => 0
    [flooring] => Array
        (
        )

[for_sale_by_owner] => 
    [foundation_area] => 
    [foundation_materials] => Array
        (
        )

[frontage_length] => 
    [full_baths] => 
    [garage_parking] => 0
    [gas] => Array
        (
        )

[gas_expense] => Array
        (
        )

[gross_income] => Array
        (
        )

[half_baths] => 
    [handicap_access] => 
    [heating] => 
    [heating_expense] => Array
        (
        )

[high_school] => 
    [horse_features] => Array
        (
        )

[horse_permitted] => 0
    [hot_water] => Array
        (
        )

[id] => 
    [insurance_expense] => Array
        (
        )

[insurance_required] => Array
        (
        )

[interior_features] => Array
        (
        )

[last_month_required] => Array
        (
        )

[last_sync_date] => 2026-06-12 04:29:35
    [laundry_features] => Array
        (
        )

[lead_paint] => Array
        (
            [0] => None
        )

[lease_term] => Array
        (
        )

[levels_in_unit] => 3
    [living_area] => 
    [living_area_disclosure] => Array
        (
        )

[living_area_includes_basement] => Array
        (
            [0] => No
        )

[lot_features] => Array
        (
            [0] => Gentle Sloping
        )

[management_expense] => Array
        (
        )

[middle_school] => 
    [miscellaneuos_expense] => Array
        (
        )

[mls_area] => 
    [mls_id] => 73484686
    [neighborhoods] => Ipswich
    [net_income_calc] => 137211
    [net_operating_income] => Array
        (
        )

[number_of_lots] => Array
        (
        )

[number_of_units] => 6
    [office] => Array
        (
            [id] => AN6811
            [name] => Realty ONE Group Cosmopolitan
            [phone] => 781-219-3200
        )

[operating_expense] => Array
        (
        )

[optional_fee_includes] => Array
        (
        )

[optional_price] => 0
    [outdoor_space_available] => Array
        (
        )

[owner_occupancy_source] => 
    [parking_features] => Array
        (
            [0] => 1
        )

[pasture_area] => 
    [patio_and_porch] => Array
        (
            [0] => Covered
        )

[perc_test] => Array
        (
        )

[perc_test_date] => 
    [pet_policy] => Array
        (
            [0] => Allowed
        )

[phone] => 
    [pool_features] => Array
        (
        )

[price] => 2299900
    [price_per_sqft] => 326.5
    [price_per_unit] => 383316.66666667
    [private_pool] => 
    [property_sub_type] => Array
        (
            [0] => 5-9 Family
        )

[real_estate_tax] => 16019
    [references_required] => Array
        (
        )

[rent_includes] => Array
        (
        )

[repair_maintenance_expense] => Array
        (
        )

[road_frontage_type] => Array
        (
        )

[roof_material] => Array
        (
            [0] => Asphalt/fiberglass Shingles
        )

[rooms] => 28
    [schools] => 
    [senior_community] => 
    [sewer] => Array
        (
            [0] => Public Sewer
        )

[sewer_expense] => Array
        (
        )

[short_sale] => Array
        (
        )

[special_listing_conditions] => Array
        (
        )

[state] => Massachusetts
    [state_code] => MA
    [status] => Array
        (
            [0] => Withdrawn
        )

[street_number] => 17-23
    [structure_type] => Array
        (
        )

[style] => Array
        (
        )

[subagent_compensation] => 
    [tag_accessible_features] => 
    [tag_air_conditioning] => 
    [tag_association_pool] => 
    [tag_beach_access] => 
    [tag_beach_front] => 
    [tag_elevator] => 
    [tag_equestrian] => 
    [tag_garage_parking] => 
    [tag_generator] => 
    [tag_green_features] => 
    [tag_laundry] => 
    [tag_lead_paint_free] => 1
    [tag_loft] => 
    [tag_pet_friendly] => 
    [tag_pre_construction] => 
    [tag_private_outdoor_space] => 
    [tag_private_pool] => 
    [tag_professional_management] => 
    [tag_recently_renovated] => 
    [tag_senior_community] => 
    [tag_townhouse] => 
    [tag_waterfront] => 
    [tag_waterview] => 
    [tax_year] => 2025
    [team] => CN252197
    [team_agents] => Array
        (
            [CN252197] => Array
                (
                    [agent_mls_id] => CN252197
                    [full_name] => Elsa Liu
                    [address] => 290 Mishawum Road Unit 3051
                    [city] => Woburn
                    [state] => MA
                    [postal_code] => 01801
                    [national_association_id] => 449628165
                    [office_mls_id] => AN6811
                )

)

[terms] => Array
        (
        )

[timber_acres] => 
    [title_5] => 
    [total_gross_expense] => 31797
    [total_gross_income] => 169008
    [total_parking] => 6
    [trash_expense] => Array
        (
        )

[travel_routes] => 
    [uffi] => Array
        (
        )

[unit_1_bathrooms] => 1 Full
    [unit_1_bedrooms] => 4
    [unit_1_floor] => 1
    [unit_1_lease] => Array
        (
            [0] => Y
        )

[unit_1_levels] => 1
    [unit_1_rent] => Array
        (
        )

[unit_2_bathrooms] => 1 Full
    [unit_2_bedrooms] => 4
    [unit_2_floor] => 2
    [unit_2_lease] => Array
        (
            [0] => Y
        )

[unit_2_levels] => 1
    [unit_2_rent] => Array
        (
        )

[unit_3_bathrooms] => 1 Full
    [unit_3_bedrooms] => 3
    [unit_3_floor] => 3
    [unit_3_lease] => Array
        (
            [0] => Y
        )

[unit_3_levels] => 1
    [unit_3_rent] => Array
        (
        )

[unit_4_bathrooms] => 1 Full
    [unit_4_bedrooms] => 4
    [unit_4_floor] => 
    [unit_4_lease] => Array
        (
            [0] => Y
        )

[unit_4_levels] => 
    [unit_4_rent] => Array
        (
        )

[unit_level] => 
    [unit_number] => 
    [units_owner_occupied] => 
    [unparsed] => 17-23 Palmer St, Salem MA 01970
    [utilities] => Array
        (
        )

[view] => Array
        (
        )

[water] => Array
        (
            [0] => Public
        )

[water_expense] => Array
        (
        )

[water_views] => Array
        (
        )

[water_views_features] => Array
        (
        )

[waterfront] => 0
    [waterfront_features] => Array
        (
        )

[raw] => 
)

EXIT

39 More Photos

Withdrawn

17-23 Palmer St, Salem MA 01970

$2,299,900

Annual Expenses for 17-23 Palmer St, Salem MA 01970

Annual Income & Unit Breakdown for 17-23 Palmer St, Salem MA 01970

General Information for 17-23 Palmer St, Salem MA 01970

Disclosures for 17-23 Palmer St, Salem MA 01970

Financial Information for 17-23 Palmer St, Salem MA 01970

Location Information for 17-23 Palmer St, Salem MA 01970

Contact Information for 17-23 Palmer St, Salem MA 01970

Agent

Office

Team Members

Payment Calculator

Exclusive Listing Agent

Realty ONE Group Cosmopolitan

The Liu Group