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INVESTMENT SNAPSHOT
About this property
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.
Property details
| Units | 3 |
| Living area | 3,968 sqft |
| Lot size | 4,021 sqft |
| Year built | 1915 |
| Price / sqft | $237 |
| County | Essex |
| MLS # | 73556225 |
Listing status
| Days on market | 5 days |
| Listed on | July 28, 2026 |
Taxes & financials
| Annual property tax | $8,054 |
| Tax year | 2025 |
| Assessed value | $747,100 |
| Zoning | R3 |
| Gross income (actual) | $82,476/yr |
| Net operating income (actual) | $57,880/yr |
| Total actual rent | $6,528/mo |
| Electric expense | $758/yr |
| Insurance expense | $2,881/yr |
Building & lot
| Stories | 3 |
| Total rooms | 14 |
| Lot size | 0.09 acres |
| Garage spaces | 0 |
| Parking spaces | 4 |
| Parking | Off Street |
| Foundation | Concrete Perimeter |
| Roof | Shingle |
| Construction | Frame |
Utilities & systems
| Heating | Natural Gas |
| Sewer | Public Sewer |
| Water | Public |
| Appliances | Range, Refrigerator |
Location
More about investing in Salem →
Listing courtesy of a MLS PIN member office. Listing data © MLS PIN.
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Questions & answers
Auto-generated from the listing data — richer AI answers coming with the live site.
How many units does 15 1/2 Palmer, Salem MA 01970 have?
It is a 3-unit multi-family property with 3,968 sqft of living area, built in 1915.
How long has 15 1/2 Palmer, Salem MA 01970 been on the market?
15 1/2 Palmer, Salem MA 01970 has been listed for 5 days (since July 28, 2026).
What is the price per unit?
At a list price of $939,000 across 3 units, that works out to roughly $313,000 per unit.
What are the property taxes on 15 1/2 Palmer, Salem MA 01970?
Annual property taxes are $8,054 (2025), on an assessed value of $747,100.
What is the price per square foot?
At $939,000 for 3,968 sqft, that's about $237 per square foot.
Is there parking?
4 total parking spaces (off street).
Where is this property located?
15 1/2 Palmer, Salem MA 01970 is in Salem, Essex County, MA 01970.
