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15 1/2 Palmer, Salem MA 01970

$939,000

Estimated $2,194/month Calculator

Multi Family

Total Units: 3

Price Per Unit: $313,000

Total Rent: 78312/year

Estimated CAP Rate:

6 Bedrooms

Baths

3968

Total Parking: 4

4,021 (0.09)

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.

This home has been viewed 4 times

Last Checked: July 29th, 2026 at 7:33pm (Source: MLS PIN #73556225)

Gross Income: $78,312

Gross Expenses: $19,139

Net Income Calc: $59,173

Annual Expenses for 15 1/2 Palmer, Salem MA 01970

Total Gross Expenses (Calculated)$19,139/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax8054

Annual Income & Unit Breakdown for 15 1/2 Palmer, Salem MA 01970

Total Gross Income (Calculated)$78,312

Unit 1

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

Rent IncludesHeat

Unit 2

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

Rent IncludesHeat

Unit 3

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor3

Levels in Unit1

Rent IncludesHeat

General Information for 15 1/2 Palmer, Salem MA 01970

Listing ID73556225

Property TypeMulti Family / 3 Family

Price939000 ($236.64/SqFt)

Style3 Family

CitySalem

CountyEssex

Neighborhood(s)Ipswich

Approximate Living Area Total3968

Approximate Lot Size (Acres)0.09

Total Parking4

Garage Parking0

Year Built1915

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

Basement

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor SpaceCovered

ZoningR3

Water Views

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 15 1/2 Palmer, Salem MA 01970

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsTv In Family Room. Kitchen Island Bar Stools And Table Set Excluded But Sellers Will Entertain Set.

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 15 1/2 Palmer, Salem MA 01970

Real Estate Taxes8054

Tax Year2025

Assessed Value$747,100

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 15 1/2 Palmer, Salem MA 01970

Neighborhood(s)Ipswich

Area AmenitiesWalk/jog Trails

Contact Information for 15 1/2 Palmer, Salem MA 01970

Agent

Name: Francesca Little

Office

Name: Little & Co., REALTORS®

Phone: 978-745-4447

Team Members

Payment Calculator

, Interest

Property Taxes 671.17

Principal & Interest 5785.82

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] => 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.
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    [unparsed] => 15 1/2 Palmer, Salem MA 01970
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EXIT

25 More Photos

Active

15 1/2 Palmer, Salem MA 01970

$939,000

Annual Expenses for 15 1/2 Palmer, Salem MA 01970

Annual Income & Unit Breakdown for 15 1/2 Palmer, Salem MA 01970

General Information for 15 1/2 Palmer, Salem MA 01970

Disclosures for 15 1/2 Palmer, Salem MA 01970

Financial Information for 15 1/2 Palmer, Salem MA 01970

Location Information for 15 1/2 Palmer, Salem MA 01970

Contact Information for 15 1/2 Palmer, Salem MA 01970

Agent

Office

Team Members

Payment Calculator

Exclusive Listing Agent

Little & Co., REALTORS®

Francesca Little