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14 Lathrop Street, Salem MA 01970

Salem, MA 01970 • Downtown
$779,900
$729,900
Est. $4,304/month
5
Beds
2.5
Baths
1,912
Sq Ft
$382
Price/Sq Ft
0.05
Acres
1850
Year Built
3
Parking
34
Days on Market
Pending Price Drop -$50,000 Listed Nov 18, 2025 • MLS# 73455967 Copied! • Updated Dec 23, 2025

About this home

Big Price Adjustment! Priced to Sell! Just steps to Salem's burgeoning waterfront and bustling downtown, this two-family home in an ultra-desirable location is perfect for investors and home owners alike. Close to Downtown Salem, Salem State University, Collins Cove & more, this two family home offers recently updated units, complete with new kitchens and baths. Minutes to Salem's MBTA Commuter Rail Station with easy access to Boston. Property is completely turn key with stainless steel appliances, updated granite counters and cabinets and washers & dryers. Unit 1 is a 2 bedroom and 1 bath. Unit 2 is a two-level, townhouse/loft style unit with 3 bedrooms and 1.5 bath. Property to be delivered vacant but, was bringing in $6,000 a month in rent! Fully insulated through the Mass Save program. Great opportunity! Don't miss out!

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A free agent CMA factors in condition, upgrades, and the street — the things comps alone can't see.

Recently Sold Nearby

Property History

Market Insights

1
Price Changes
6.4%
Price Range

Property Timeline

Pending Sale
Dec 11, 2025
Offer accepted, sale pending
👁️
Showing Instructions Updated
Nov 30, 2025
New showing requirements
Price Reduced
Nov 29, 2025
$729,900 $50,000 (-6.41%)
From $779,900 to $729,900 (-6.4%)
🏠
Listed for Sale
Nov 18, 2025
$729,900
Original listing
Agent: Edward Deveau Office: Century 21 Mario Real Estate
🏠
Listed for Sale
Nov 18, 2025
$779,900
Original listing
Office: Century 21 Mario Real Estate

Tax History

Year Taxes Assessment
2025 $4,958 $437,200

Financial Details

Annual Property Tax
$4,958
Tax Year 2025
Assessed Value
$437,200

Facts & Features

Home Facts

Type Residential Income
Style Multi Family
Year Built 1850
Living Area 1,912 sq ft
Lot Size 0.05 acres
Bedrooms 5
Full Baths 2
Half Baths 1
Total Rooms 10

Investment Metrics

Units 2
Unit 1 Rent $2,900/mo · N
Unit 2 Rent $3,100/mo · N
Total Monthly Rent $6,000/mo
Gross Income $72,000
Net Operating Income $72,000
Cap Rate 9.86%
Heating Forced Air, Electric, Natural Gas
Cooling Window Unit(s)
Flooring Wood
Appliances Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
Fireplace None
Basement Walk-out Access, Interior Entry, Unfinished
Laundry Washer Hookup, Dryer Hookup, Electric Dryer Hookup
Features Stone/granite/solid Counters, High Speed Internet, Upgraded Cabinets, Upgraded Countertops, Walk-in Closet(s), Bathroom With Shower Stall, Open Floorplan, Smart Thermostat, Remodeled, Internet Available - Unknown, Living Room, Kitchen, Laundry Room, Loft, Office/den
Construction Frame
Architecture None
Roof Shingle
Features Rain Gutters, Garden, Stone Wall
Pool None
Spa None
Fencing Fenced
Patio/Porch Porch, Patio
Features Paved Drive, Off Street, Tandem, Driveway, Paved
Total Spaces 3
Electric Circuit Breakers
Water Public
Sewer Public Sewer
Gas None
Other For Gas Range, For Electric Dryer, Washer Hookup

Financial

Annual Tax $4,958
Assessed Value $437,200
Fee Includes None
Amenities None
Optional Fee Includes None
Seller Disclosures Property To Be Sold As-is. All Information Related To De-leading Is In Attachments. Sellers Make No Guarantees Or Warranties. There May Be An Easement Along The Driveway With Next Door Neighbor. Please Perform All Due Diligence.
Possession None
Accepted Financing None
Structure Type []
House Color Grey
Sq Ft Source Public Record
Documents None
County Essex
Total market time (incl. prior listings) 35 days

Property Overview

Property Type
Multi Family
Listing Type
For Sale
Year Built
1850
Bedrooms
5
Full Bathrooms
2
Half Bathrooms
1
Living Area
1,912 sq ft
Total Rooms
10
Stories
3
Levels
3

Room Details

Other Floor

Bathroom1
Bedroom5
Bedroom4
Bedroom3
Dining Room
Kitchen
Bathroom2
Bedroom2
Living Room
Bathroom3
Master Bedroom
Office
Family Room
Master Bathroom

Interior Features

Flooring: Wood
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
Interior Features: Stone/Granite/Solid Counters, High Speed Internet, Upgraded Cabinets, Upgraded Countertops, Walk-In Closet(s), Bathroom with Shower Stall, Open Floorplan, Smart Thermostat, Remodeled, Internet Available - Unknown, Living Room, Kitchen, Laundry Room, Loft, Office/Den
Windows: Insulated Windows
Basement: Walk-Out Access, Interior Entry, Unfinished
Laundry: Washer Hookup, Dryer Hookup, Electric Dryer Hookup
Security:

Construction & Materials

Year Built: 1850
Structure Type:
Exterior Materials: Frame
Roof: Shingle
Foundation: Stone
Stories: 3

Heating, Cooling & Utilities

Heating: Forced Air, Electric, Natural Gas
Cooling: Window Unit(s)
Hot Water: Natural Gas
Water Source: Public
Sewer: Public Sewer
Energy Features: Thermostat

Exterior & Lot

Exterior Features: Rain Gutters, Garden, Stone Wall
Patio & Porch: Porch, Patio
Fencing: Fenced
Other Structures:
Lot Features: Level
Road Surface:

Parking & Garage

Total Parking Spaces: 3
Parking Features: Paved Drive, Off Street, Tandem, Driveway, Paved
School District
Salem School District local
B-
School Safety 2024-25
3.6% Above Average
2.3% Suspensions 0.8% In-School 1.3% Emergency
1.9% below state avg
E

Elementary Schools

9 schools
The Phoenix School
1.3 mi
Grades PK-08
The Greenhouse School
2.3 mi
Grades PK-08
B-
Carlton School
0.1 mi | #468 of 824 | Score: 45.6
Dropped 47 spots from last year
-12.6 below state avg
247 students Diverse
Grades K-05
C+
Bentley Academy Innovation School
0.5 mi | #568 of 824 | Score: 42.3
Improved 143 spots from last year
-16 below state avg
286 students Moderate
Rising School
Grades PK-05
Salem Early Childhood School
0.5 mi
106 students Diverse
Diverse Student Body
Grades PK
B+
Bates School
0.9 mi | #325 of 824 | Score: 50.0
Improved 254 spots from last year
-8.2 below state avg
410 students Diverse
Rising School Diverse Student Body
Grades PK-05
B-
Saltonstall School
1.2 mi | #460 of 824 | Score: 45.8
Improved 108 spots from last year
-12.4 below state avg
412 students Diverse
Rising School
Grades K-05
B
Witchcraft Heights School
1.9 mi | #388 of 824 | Score: 48.1
Improved 162 spots from last year
-10.1 below state avg
455 students Diverse
Rising School Diverse Student Body
Grades K-05
C-
Horace Mann Laboratory School
2.0 mi | #671 of 824 | Score: 37.4
Improved 50 spots from last year
-20.8 below state avg
293 students Diverse
Rising School Diverse Student Body
Grades PK-05
M

Middle Schools

1 school
C+
Collins Middle School
1.4 mi | #219 of 352 | Score: 39.5
Improved 60 spots from last year
-18.7 below state avg
611 students Diverse
Rising School Diverse Student Body
Grades 06-08
H

High Schools

2 schools
B+
Salem Academy Charter School
1.0 mi | #139 of 346 | Score: 56.7
Improved 97 spots from last year
-1.5 below state avg
480 students Diverse
10 sports • 568 athletes
High Graduation Rate Rising School College Ready Curriculum
Grades 06-12
B
Salem High School
2.1 mi | #144 of 346 | Score: 56.1
Dropped 24 spots from last year
-2.1 below state avg
952 students Diverse
18 sports • 1,080 athletes
Early College Program Career Tech Programs College Ready Curriculum Strong Athletics
Grades 09-12
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Including down payment
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Down: $0
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Monthly Payment Breakdown

Principal & Interest $0
Property Tax $413
Homeowners Insurance $200
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

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Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Location

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Neighborhood

Downtown

14 Lathrop Street, Salem MA 01970

Salem, MA 01970

Listing Information

Listing Agent Edward Deveau
Listing Office Century 21 Mario Real Estate
Office Phone 617-569-6044
Agent MLS ID CN211734
Office MLS ID BB2945
Listing Data Updated Dec 23, 2025 3:56 PM EST
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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Steven Novak
Steven Novak
BMN Boston Real Estate
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