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Active Under Contract

61 Mason St, Salem MA 01970

$649,000

Estimated $1,506/month Calculator

Multi Family

Total Units: 2

Price Per Unit: $324,500

Total Rent: 0/year

Estimated CAP Rate:

2 Bedrooms

Baths

1874

Total Parking: 3

5,850 (0.13)

Owner occupants, investors, contractors, and developers take notice! 61 Mason Street presents a rare opportunity to own a two-family in a highly convenient Salem location with significant potential to build equity and add value. Live in one unit and offset your mortgage with rental income, while enjoying the benefits of homeownership and long-term investment potential. The existing two-family layout, along with additional space in the attic, provides flexibility for future use or improvements. Investors will also appreciate the opportunity to grow their portfolio and unlock additional value. Ideally situated just a quick walk from vibrant downtown Salem, the commuter rail, waterfront, restaurants, shopping, parks, and museums, while remaining outside the busiest tourist areas. For those looking toward the future, the property was previously approved for a five-unit development plan, offering buyers the opportunity to explore similar redevelopment potential, subject to current approvals and buyer due diligence. Whether you're looking for a home with rental income, an investment property, or a larger development opportunity, 61 Mason Street offers a unique range of possibilities.

This home has been viewed 8 times

Last Checked: October 16th, 2026 at 10:08am (Source: MLS PIN #73588049)

Gross Income: $0

Gross Expenses: $5,445

Net Income Calc: $5,445

Annual Expenses for 61 Mason St, Salem MA 01970

Total Gross Expenses (Calculated)$5,445/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax5445

Annual Income & Unit Breakdown for 61 Mason St, Salem MA 01970

Total Gross Income (Calculated)$0

Unit 1

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

General Information for 61 Mason St, Salem MA 01970

Listing ID73588049

Property TypeMulti Family

Price649000 ($346.32/SqFt)

StyleMulti Family

CitySalem

CountyEssex

Neighborhood(s)Ipswich

Approximate Living Area Total1874

Approximate Lot Size (Acres)0.13

Total Parking3

Garage Parking0

Year Built1850

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric

Hot Water

Roof Material

Basement

Construction Materials

Lot Features

Foundation Description

Accessible Features

Outdoor Space

ZoningNRCC

Water Views

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 61 Mason St, Salem MA 01970

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsBlack Light Fixture Above Storage Bench In Kitchen.

Financial Data Source

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 61 Mason St, Salem MA 01970

Real Estate Taxes5445

Tax Year2026

Assessed Value$505,100

Financial Data Source

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 61 Mason St, Salem MA 01970

Neighborhood(s)Ipswich

Area Amenities

Contact Information for 61 Mason St, Salem MA 01970

Agent

Name: Alex Rice

Office

Name: North Shore Realty Advisors

Phone: 617-548-7737

Team Members

Payment Calculator

, Interest

Property Taxes 453.75

Principal & Interest 3998.93

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

North Shore Realty Advisors

Alex Rice

Agent Phone

Office Phone

(617) 548-7737

Text Agent Call Agent Call Office

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EXIT

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