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INVESTMENT SNAPSHOT
About this property
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.
Property details
| Units | 6 |
| Living area | 7,044 sqft |
| Lot size | 7,052 sqft |
| Year built | 1915 |
| Price / sqft | $327 |
| County | Essex |
| MLS # | 73484686 |
Listing status
| Days on market | 66 days |
| Listed on | March 10, 2026 |
Taxes & financials
| Annual property tax | $16,019 |
| Tax year | 2025 |
| Assessed value | $1,412,600 |
| Zoning | R3 |
| Gross income (actual) | $248,724/yr |
| Net operating income (actual) | $204,401/yr |
| Total actual rent | $20,223/mo |
| Insurance expense | $5,600/yr |
Building & lot
| Stories | 3 |
| Total rooms | 28 |
| Lot size | 0.16 acres |
| Garage spaces | 0 |
| Parking spaces | 6 |
| Parking | Deeded |
| Basement | Unfinished |
| Foundation | Concrete Perimeter |
| Roof | Shingle |
| Construction | Frame |
Utilities & systems
| Sewer | Public Sewer |
| Water | Public |
Location
More about investing in Salem →
Listing courtesy of Realty ONE Group Cosmopolitan — The Liu Group. 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 17-23 Palmer St, Salem MA 01970 have?
It is a 6-unit multi-family property with 7,044 sqft of living area, built in 1915.
How long has 17-23 Palmer St, Salem MA 01970 been on the market?
17-23 Palmer St, Salem MA 01970 has been listed for 66 days (since March 10, 2026).
What is the estimated cap rate on this 6-family in Salem?
Based on area median rents, the estimated cap rate is about 4.5%, with a Signal Score of 79/100. These are directional estimates, not an appraisal.
What is the price per unit?
At a list price of $2,299,900 across 6 units, that works out to roughly $383,317 per unit.
What are the property taxes on 17-23 Palmer St, Salem MA 01970?
Annual property taxes are $16,019 (2025), on an assessed value of $1,412,600.
What is the price per square foot?
At $2,299,900 for 7,044 sqft, that's about $327 per square foot.
Is there parking?
6 total parking spaces (deeded).
Where is this property located?
17-23 Palmer St, Salem MA 01970 is in Salem, Essex County, MA 01970.
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