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1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Active

1-7 Prince St & 48-54 Harbor St, Salem MA 0197

$2,400,000

Estimated $5,245/month Calculator

Multi Family

Total Units: 8

Price Per Unit: $300,000

Total Rent: 60000/year

Estimated CAP Rate:

16 Bedrooms

Baths

6656

Total Parking: 10

9,740 (0.22)

Turnkey 8-unit investment opportunity in Salem. The Property consists of two four-family buildings deeded together, totaling eight (8) 2-bedroom units, along with 10 off-street parking spaces. Heat and hot water are included in rent. The property has been extensively updated, featuring renovated kitchens and baths with granite countertops and stainless steel appliances, updated electrical, a new roof on the Harbor Street building, and new insulation in both attics and walls. Additional highlights include basement storage and a clean, well-maintained condition, making this an ideal opportunity for investors seeking a low-maintenance, stabilized asset with upside through future rent optimization. See attached for the OM with detailed financials.

This home has been viewed 14 times

Last Checked: June 23rd, 2026 at 4:53am (Source: MLS PIN #73490150)

Gross Income: $60,000

Gross Expenses: $16,240

Net Income Calc: $43,760

Water Views

Annual Expenses for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Total Gross Expenses (Calculated)$16,240/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax16240

Annual Income & Unit Breakdown for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Total Gross Income (Calculated)$60,000

Unit 1

Rental Income$0

LeaseY

Bedrooms2

Bathrooms2 Full

Floor1

Levels in Unit1

Rent IncludesHeat

Unit 2

Rental Income$0

LeaseY

Bedrooms2

Bathrooms2 Full

Floor1

Levels in Unit1

Rent IncludesHeat

Unit 3

Rental Income$0

Lease

Bathrooms

Rent IncludesHeat

Unit 4

Rental Income$0

Lease

Bathrooms

Rent IncludesHeat

General Information for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Listing ID73490150

Property TypeMulti Family / 5+ Family

Price2400000 ($360.58/SqFt)

Style5-9 Family

CitySalem

CountyEssex

Neighborhood(s)Ipswich

Approximate Living Area Total6656

Approximate Lot Size (Acres)0.22

Total Parking10

Garage Parking0

Year Built1960

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric220 Volts

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor Space

ZoningR3

Water ViewsNo

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsSome Of The Sellers' Personal Items Are Not Included In The Sale.

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 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Real Estate Taxes16240

Tax Year2025

Assessed Value$1,432,100

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 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Neighborhood(s)Ipswich

Area AmenitiesWalk/jog Trails

Contact Information for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Agent

Name: Francesca Little

Office

Name: Little & Co., REALTORS®

Phone: 978-745-4447

Team Members

Payment Calculator

, Interest

Property Taxes 1353.33

Principal & Interest 14788.04

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Little & Co., REALTORS®

Francesca Little

Agent Phone

Office Phone

(978) 745-4447

Text Agent Call Agent Call Office

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    [description] => Turnkey 8-unit investment opportunity in Salem. The Property consists of two four-family buildings deeded together, totaling eight (8) 2-bedroom units, along with 10 off-street parking spaces. Heat and hot water are included in rent. The property has been extensively updated, featuring renovated kitchens and baths with granite countertops and stainless steel appliances, updated electrical, a new roof on the Harbor Street building, and new insulation in both attics and walls. Additional highlights include basement storage and a clean, well-maintained condition, making this an ideal opportunity for investors seeking a low-maintenance, stabilized asset with upside through future rent optimization. See attached for the OM with detailed financials.
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            [phone] => 978-745-4447
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    [price_per_unit] => 300000
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    [unparsed] => 1-7 Prince St & 48-54 Harbor St, Salem MA 0197
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EXIT

24 More Photos

Active

1-7 Prince St & 48-54 Harbor St, Salem MA 0197

$2,400,000

Annual Expenses for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Annual Income & Unit Breakdown for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

General Information for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Disclosures for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Financial Information for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Location Information for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Contact Information for 1-7 Prince St & 48-54 Harbor St, Salem MA 0197

Agent

Office

Team Members

Payment Calculator

Exclusive Listing Agent

Little & Co., REALTORS®

Francesca Little