15 1/2 Palmer, Salem MA 01970
Salem, MA 01970
$939,000
$899,000
Est. $5,417/month
Track this home for price, status, and open-house alerts.
About this home
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.
View in the App
Save this property, schedule tours instantly, and get alerts when the price drops
Scan with phone
Public Records & Permits
Log in to view assessor & tax records, ownership history, and recent building permits for this property.
BMN Estimate
Get the number an algorithm can't give you
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
4.3%
Price Range
Property Timeline
Price Reduced
Aug 4, 2026
$899,000
$40,000
(-4.26%)
From $939,000 to $899,000 (-4.3%)
Listed for Sale
Jul 29, 2026
$939,000
Original listing
Agent: Francesca Little
Office: Little & Co., REALTORS®
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 08/04/2026 | ↓ Price Reduced | $899,000 | $40,000 | - | From $939,000 to $899,000 (-4.3%) |
| 07/29/2026 | 🏠 Listed for Sale | $939,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2025 | $8,054 | $747,100 |
Financial Details
Annual Property Tax
$8,054
Tax Year 2025
Assessed Value
$747,100
Facts & Features
Home Facts
Type
Residential Income
Style
3 Family
Year Built
1915
Living Area
3,968 sq ft
Lot Size
0.09 acres
Bedrooms
6
Full Baths
3
Total Rooms
14
Investment Metrics
Units
3
Unit 1 Rent
$2,364/mo · N
Unit 2 Rent
$2,135/mo · N
Unit 3 Rent
$2,027/mo · N
Total Monthly Rent
$6,526/mo
Gross Income
$82,476
Net Operating Income
$57,880
Operating Expenses
$20,679
Water/Sewer Expense
$1,352
Electric Expense
$758
Insurance Expense
$2,881
Cap Rate
6.44%
Interior
Heating
Natural Gas
Cooling
None
Flooring
None
Appliances
Range, Refrigerator
Fireplace
None
Basement
None
Laundry
None
Features
None
Exterior
Construction
Frame
Architecture
None
Roof
Shingle
Features
None
Pool
None
Spa
None
Fencing
Fenced
Patio/Porch
Enclosed
Parking
Features
Off Street
Total Spaces
4
Utilities
Electric
None
Water
Public
Sewer
Public Sewer
Gas
None
Other
None
Financial
Annual Tax
$8,054
Assessed Value
$747,100
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
Down Payment Resource
Eligible
MA Disclosures
Seller Disclosures
None
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Sq Ft Source
Public Record
Documents
None
County
Essex
Total market time (incl. prior listings)
11 days
Property Overview
Property Type
3 Family
Listing Type
For Sale
Year Built
1915
Bedrooms
6
Full Bathrooms
3
Living Area
3,968 sq ft
Total Rooms
14
Stories
3
Levels
3
Floor Layout
Interactive room guide
Floor Layout
Finished Area
3,968 sq ft above grade
Display Options
Outdoor Areas
Patio & porchEnclosed
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Range, Refrigerator
Interior Features:
Windows:
Basement:
Laundry:
Security:
Construction & Materials
Year Built:
1915
Structure Type:
Exterior Materials:
Frame
Roof:
Shingle
Foundation:
Concrete Perimeter
Stories:
3
Heating, Cooling & Utilities
Heating:
Natural Gas
Cooling:
Hot Water:
Natural Gas
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Enclosed
Fencing:
Fenced
Other Structures:
Lot Features:
Other
Road Surface:
Parking & Garage
Total Parking Spaces:
4
Parking Features:
Off Street
Nearby Schools
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
Elementary Schools
3 schools
B-
Saltonstall School
0.2 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
The Phoenix School
1.0 mi
Grades PK-08
C+
Bentley Academy Innovation School
1.1 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
Middle Schools
3 schools
C+
Collins Middle School
0.7 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
B+
Village School
1.5 mi
|
#253 of 824
|
Score: 52.3
Dropped 64 spots from last year
-5.9 below state avg
529 students
Moderate
Grades 04-06
A-
Marblehead Veterans Middle School
1.9 mi
|
#83 of 352
|
Score: 51.5
Dropped 30 spots from last year
-6.7 below state avg
411 students
Less Diverse
Grades 07-08
High Schools
3 schools
B+
Salem Academy Charter School
0.3 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
1.2 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
Bishop Fenwick High School
2.0 mi
17 sports
• 1,390 athletes
Strong Athletics
Grades 09-12
Learn about these ratings
Monthly Payment Calculator
Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
$0
After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%
Monthly Payment Breakdown
Principal & Interest
$0
Property Tax
$671
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
-0.5% Rate
$0/mo
Save $0/mo
Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo
Payment Over Time
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
Loading map...
Neighborhood
15 1/2 Palmer, Salem MA 01970
Salem, MA 01970
Listing Information
Listing Agent
Francesca Little
Listing Office
Little & Co., REALTORS®
Office Phone
978-745-4447
Agent MLS ID
CN234756
Office MLS ID
C67600
Listing Data Updated
Aug 8, 2026 3:05 AM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
Contact Us
Ask about this property — free, no obligation.
Similar Homes for Sale
Comparable Properties
Customize Comparable Search
Finding comparable properties...
Loading market insights for Salem.